- MyGate holds two reserves back, namely:
- A 10% RD Reserve: This covers the risk of an RD that may occur. Due to the nature of the service RDs can occur after the funds have been paid out to the client.
- The RD reserves will be paid out 25 working days after the action date.
A 10% Bank reserve:
- MyGate holds a bank reserve as a guarantee against the debit order facility issued to the client.
- This is paid out 60 working days after cancellation.