Quick answer

A Payment Clearing House (PCH) is a forum, plus a set of rules and technical arrangements, within which banks exchange payment messages of a specific type. South Africa operates separate PCHs for each major payment stream, mostly operated by BankservAfrica. Net obligations from each PCH settle in SAMOS at scheduled windows.

What a PCH is

A Payment Clearing House is a coordinated arrangement between banks for clearing a particular payment instrument. It includes the participants, the operator, the rule book, the messaging standards, and the settlement schedule. PASA manages PCH governance for most streams.

South African PCHs at a glance

  • EFT Credit PCH — bulk credit payments.
  • EFT Debit PCH — non-authenticated debit orders.
  • DebiCheck PCH — authenticated debit orders.
  • RTC PCH — Real-Time Clearing for lower-value urgent credits.
  • PayShap PCH — instant-payment scheme.
  • Card PCH — domestic card switching.
  • ATM PCH — interbank ATM transactions.

Rules and governance

Each PCH has its own rule book setting message formats, cut-off times, dispute resolution, and exception handling. PASA chairs the working groups that maintain these rules, with SARB oversight on systemically important changes.

How PCH outputs reach SAMOS

At each settlement window, the PCH operator (typically BankservAfrica) submits the net obligation per participant to SAMOS. SAMOS settles the obligations across SARB settlement accounts. The PCH itself does not hold funds — it only computes obligations.

TL;DR

  • A PCH is a coordinated forum for clearing a specific payment type.
  • South Africa runs separate PCHs for EFT, DebiCheck, RTC, PayShap, card, ATM.
  • Each PCH has its own rule book under PASA oversight.
  • Net obligations land in SAMOS for final settlement.

Frequently asked questions

Is a PCH a separate company?

Usually not — it is a coordinated arrangement. The operator (typically BankservAfrica) is a company; the PCH itself is the rule-based forum.

Who decides PCH rules?

PCH working groups under PASA, with SARB oversight on systemically important changes.

Does the PCH hold any funds?

No. Clearing is purely the matching and netting of messages; settlement of funds happens in SAMOS.

How often do PCH outputs settle?

Depends on the stream — EFT runs at scheduled daily windows, PayShap settles much more frequently to support near-real-time customer experience.

See also from our Comparison silo: SAMOS vs PayShap: How Are They Different? and PayShap vs RTC vs EFT: Choosing the Right Payment Method. For the foundations, return to the SAMOS homepage or browse the full Knowledge Hub.