Why is Standard Bank debiting accounts before the usual due date in December?
During the holiday period, some clients struggle to make debit order payments as most customers are paid earlier than usual. Debit orders do not automatically adjust to detect a salary payment, meaning some customers may fall behind on payments. Where clients have given the bank a flexible debit mandate on their loan account, the bank will adjust the debit orders dates to their expected salary dates in December.
How has Standard Bank communicated to customers about this change?
Customers will receive an SMS either on the day or 1 day before their debit order date.
Which customers are excluded from early debits?
Weekly and bi-monthly paying customers on AccessLoan and RCP
Customers who do not have flexible mandates
Will the early debit orders deduct from my overdraft facility?
Yes, if there are funds available.
Will I get charged an unpaid fee before the debit order due date?
In the event that you do not have any money in the account, the debit order will continue to be tracked and funds collected as they become available. It is important to note that NO unpaid debit order fee will apply for non-payments before the usual debit order due date, therefore if we do not receive an earlier payment, you will not be penalised.
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The festive season brings with it many changes to our regular routines. To accommodate the holiday season, many employers choose to pay their employees earlier than usual, while others are also pay bonuses at this time of the year, impacting regular monthly budgets. During this time, it’s easy for one to get caught up in the spirit of the season, causing us to overspend and risking our regular debit order payments later in the month. In order to make it easier and more convenient for you over this period, we may adjust debit orders to run earlier than usual, on select loan accounts this December. This will impact some customers who have given the bank authority for a flexible debit mandate, which means your monthly debit order date or amount may change. This service is particularly, useful when you receive your salary on irregular dates and want to avoid failed debits and the associated penalties.
This service applies to select loan accounts including;
Revolving Credit Plan (RCP)
Vehicle and Asset Finance
Home Loan and
Card debit orders
In the event that you do not have any money in the account on the new date (i.e. your salary has not yet been deposited), your debit order will continue to be processed as per the usual debit order date and the normal debit order processes will apply.
Provided the debit order is successfully paid on the usual date, NO unpaid debit order fee will apply for non-payments. January debit orders will resume as per the normal debit order date.
Should you have any queries, please see our FAQs here or call us on 0860 123 001
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I understand your frustration, Debit Order fraud is a distressing experience, especially as it affects clients from all banks. To deal with this, local banks have jointly launched the DebiCheck service.
Standard Bank will assist you to Reverse, Stop or Investigate any account Debit Orders. Should you pick up any irregularities, you can let us know by calling 0860 123 000 (as we need to ensure we are assisting the right person) or by visiting any branch for help with this.
To monitor your account, you can either use Online Banking or the Mobile Banking App (now with DebiCheck integration ) and also enable MyUpdates, to receive real-time alerts for transactions on your account.
Please also see this blog that explains your options in more detail. Should you need additional assistance please call us or send an email to [email protected] .
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After returning from abroad, I find my old app will not work and on upgrading at the AppStore I have a whole new App that does not have my prepaid electricity history or meter and when I reload the meter number it says the municipality and meter number cannot be accessed. What kind of upgrade is this that functionality I had relied upon for years no longer works? Was user acceptance testing even contemplated? Poor show as I am out of the country again and my household does not have electricity. Your institution is a risk to me... @Moshele wrote: Why do I receive the SMS with my reference number very late, or not at all, after I’ve paid? It could be due to slow network response. If you transact on the app or on online banking you can find a record of your most recent purchase with the reference number. Can I get a refund if I buy the wrong amount of electricity or enter the wrong meter number? We can’t reverse any payments you make to the municipality or electricity supplier, so it’s best to double-check your details before you pay. Can I get a refund if I repeat an incorrect purchase? We can’t reverse any payments you make to the municipality or electricity supplier, so it’s best to double-check your details before you pay. Why doesn’t my token load? There may be something wrong with your meter. Your municipality will be able to help you. Why does the bank include charges and debt when I buy prepaid electricity? The debt and arrears reflecting on your SMS, emailer or purchase history are determined by your municipality or electricity supplier. What is the ‘debt’? If you’re in arrears on any of your municipal accounts, your municipality may allocate part or all of the prepaid purchase towards those arrears. Check your municipality’s prepaid requirements. What are the charges? Your municipality or electricity supplier may allocate your purchase towards charges, fees or levies. Refer to your municipal tariff handbook for help. What are the bank charges when I purchase electricity? R2.02 will be charged when purchasing electricity. I’m having trouble making a prepaid electricity purchase Please call our customer care line so we can see how we can assist. What happens when the meter number is blocked by the municipality? You will be notified and must refer their query to the municipality as we are unable to provide details on why the meter has been blocked. Is the meter validation going to happen every time the purchase is made? It should be once on the particular device.
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We do value your feedback and do understand your frustrations on this. We have shared your feedback with our developers for future development on the App.
We can feedback as soon as we have more details on these developments.
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The Immediate Payments feature has now been added to our Mobile Banking App. Please refer to our App Release Notes or the dedicated post explaining how this service works for more information.
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Do I have to pay for the courier delivery service when I select the option of “Delivered to you”?
There is no cost associated with the courier delivery service.
When will I receive a paid up letter for the vehicle which has been settled?
The paid up letter will be included in the document pack together with your original NaTIS letter, which you will either collect from Standard Bank or receive via delivery to your specified delivery address.
When will my VAF account balance reflect as zero?
This can take up to 5 working days.
Once I have settled my VAF account, what other VAF functionality will I still have on the SBG mobile app?
The vehicle finance calculator as well as the opportunity to apply for pre-approval of a vehicle finance loan.
Will I still be required to call the CCC to check if the quote is accurate?
No, the correct settlement amount will appear on the app at the time of settling the VAF account.
Does the quote/settlement reflect the vehicle details or deal number? If it reflects the deal number, when will it be changed to the vehicle details for those customers with multiple vehicles?
Yes, the settlement quote shows the full account number/deal number as well as vehicle details. This is a standard feature for any settlement letter.
Will I be able to retrieve the payment confirmation at a later stage?
Yes, the payment will reflect as with any other payment transaction as seen currently on your cheque/savings account.
After settling my VAF account, will I be required to phone the contact centre in order for my VAF account to be closed?
No, the account will settle the exact amount which is not editable and trigger your NATIS request. Through all of this the account is closed off automatically as the NATIS team will not release the NATIS document unless the account has been fully settled.
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Does Give/Cancel Notice apply to business accounts as well?
Does Give/Cancel Notice apply to foreign nationals as well?
Can I do an early repayment on the App? If not, when?
No, early redemptions aren’t available yet. However, this feature may become available in future releases.
Are error duplications to give notice possible?
Duplications are unlikely. However, if you do make a duplication notice, you will also be able to cancel the notice on the app.
Is there a charge to cancel notice? If so, what is the fee?
There is no charge
Does the amount placed on notice also accumulate interest?
Yes, it does. The interest is calculated daily and paid out monthly.
Will I be able to give notice on my accounts, regardless of the platform that I used to open them? (For example, I opened an account in the branch but did not link my account to the card.)
If you can access online banking, then you can place, view, and cancel notices and your account need not be linked to your card. If you are however a standalone customer (i.e. you don’t have a transactional / card based product with the bank), then the notice will have to be placed in branch or via the CCC.
Why can I not give notice for the total amount in the account on the App? I am able to do this in the branch.
Unfortunately account closure cannot happen on the app. A minimum balance of R250 needs to remain on the account in order to continue to earn interest. If you redeem the full amount in branch, the account automatically closes.
IBR does not allow customers with preferential rates to give notice, will the app allow this or not?
By preferential you’re referring to online rates of 0.15%. Customers, regardless of the rate, can give notice.
Are business customers also able to give notice on their accounts?
Will I be able to give notice for odd amounts, e.g. R433.30?
Yes, they will, just as long as a minimum of R250 is left in your account at all times.
Once paid out, will I get a notification that the funds are now available?
Funds are paid automatically into the designated account. No notification of payout is sent.
Does the pay-out happen on the last day, e.g. Day 32 for 32 day notice account or on the next business day? The next business day
When you give notice on a Sunday, will it reflect on Monday or Tuesday?
The notice placed will only reflect on Monday, while the payment will only be effected on the next business day.
Can I cancel a pending notice 1 day before maturity?
A notice placed can be cancelled anytime, even a day before maturity.
Once the notice is cancelled, can I make an early repayment on the same day with the same amount at the branch/voice?
Early repayment can be done on the same day with the same amount, subject to penalties.
What does the error “Something went wrong. Please try again later” mean?
This appears in the event that an error occurred. Errors happen for many reasons whether retrieving information from SAP, your internet connection drops and many others. We advise you to logout and log back in.
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The latest version of the Mobile Banking App has following features;
Give / Cancel Notice
Validate your meter number (while purchasing electricity)
Settle your car loan and have your registration (NaTIS) documents delivered
Please visit links provided for FAQs on how to conduct these transactions.
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From 5 November 2018, clients no longer have the option to use the 'old' Internet Banking login screen (below).
Previous Online Banking login screen
You will now be directed to the new Online Banking site where you can continue to experience convenient, affordable and secure digital banking. As part of ongoing efforts to improve on safety and security features, we have introduced a new two-step Sign in process.
New two-step Online Banking login screen
Frequently Asked Questions
How does the move to the new Online Banking site impact me, if I’m still using the old Online Banking site?
Standard Bank has successfully moved over the majority of clients onto our new Online Banking site. Customers that had not moved over to the new Online Banking site, and do not have a Digital ID (i.e. currently using the Mobile Banking App), will need to register on the new Online Banking site. If you are already using the Mobile App, you can use those login detail to access our new Online Banking Site.
Is the two-step sign in feature also applicable on our Mobile App?
No, the two-step sign in feature is only applicable to the Online Banking site
Does the new sign in feature require customers to change their Login credentials when logging into our new Online Banking site?
No, you should continue using your existing Online Banking credentials to sign in.
When was this change communicated?
Clients have been notified via SMS and Email communication thorough October 2018.
Why are we changing the log in feature?
The change is part of our ongoing efforts to improve safety and security on our Digital Banking Platforms.
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New and improved features;
Auto Share Invest
Tax-Free Investment Account
Link your car loan and insurance policies to the app (no transactional account needed)
Advanced Transaction Filtering (Android only)
International Payment Pay Again (Android only)
Navigation and user interface enhancements;
New background of login screen
View forex rates and access the forex calculator without
having to sign in (iOS)
Account Details Confirmation enhancement
Redesigned UCount screen
DebiCheck moved from home screen prompt to under “More”
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@Moshele wrote: If you’re using our old Internet Banking, next time you log in to your online profile, you may be prompted to switch to our new Online Banking. As part of creating an enhanced digital banking experience, our new Online Banking is smarter, simpler and easier to use with a wide range of additional features and benefits striving to take your online banking experience to the next level, at no extra cost to you. And the best part? It’ll only take five minutes to make the move. All you need to do is enter your email address and create a new password. In return, we’ll send you an OTP which once you’ve entered, you’ll be registered and signed in to your new Online Banking profile ready to start banking. It’s that easy! Why do you need to move to new Online Banking? We’ll soon be disabling our old Internet Banking site, so you’ll no longer be able to access it. Everyone using our old Internet Banking will need to move to our new Online Banking. What’s new on new Online Banking? While your Online Banking profile will remain the same, as will your beneficiaries, new Online Banking comes with an array of added features to promote self-service banking, allowing you to bank on your terms. The improved account summary page gives you quicker access to your account information: Manage your beneficiaries and payments with ease Make payments or send money, hassle-free Purchase prepaid airtime as and when you need Transfer money between your accounts with no delays The transact dashboard lets you easily navigate and access all functionalities, old and new. New features include the following: Make international payments quickly and simply anywhere in the world Manage monthly payment limits: change your monthly payment limits as you wish Access, view, print and download statements as well as stop debit orders and cheques Pay MyBills: pay third-party service providers such as SARS Send instant money anytime, anywhere What are the benefits of using new Online Banking? Single login details: You can access all your accounts in one place through any device using your email address and password. You can also access your Online Banking profile both online and on the Standard Bank app and link up to 30 cards while managing them all on one profile. Bank on your terms: You can access all your features and benefits quickly and easily with less interaction with your bank: open a new savings or investment account in seconds, make international payments and even change monthly payment limits yourself. Simple international payments: Make international payments at any time to anyone in the world. Access Personal and Business Banking: Transact on your Personal and Business Banking profiles separately without logging out of your profile. Manage your business more efficiently: As a business account holder, you can delegate another person to capture payments on your behalf while you approve payments on the go.
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Q: What do all these different terms mean?
A: Explanations of different terms used in this document are included in Annexure A of this document.
Q: What is DebiCheck?
A: DebiCheck is the name for a specific type of debit order. A DebiCheck debit order is one that you confirm, electronically on a once-off basis (at the start of your contract). Its purpose is for you to confirm the details of the debit order with your bank before it is processed to your bank account.
Q: Who made this decision and why?
A: During the last couple of years debit order abuse has increased. On the one hand, there has been an increase in the number of debit orders being processed to consumers’ bank accounts without their consent. On the other hand, consumers have increasingly been disputing debit orders which they actually have agreed to, mostly to manage their cash flow. For these reasons, the South African Reserve Bank (SARB) decided to review the debit order landscape and during 2013 instructed the Payments Association (PASA) and the banks to address these issues. DebiCheck aims to address both of these issues by introducing electronic consumer confirmation for all DebiCheck debit orders.
Q: What is the difference between DebiCheck debit orders and other debit orders?
A: DebiCheck debit orders are debit orders that you will confirm, electronically and on a once off basis. Its purpose is for you to confirm the details of the debit order with your bank before it is processed to your account. Other debit orders are not confirmed electronically, although you still need to have a valid mandate in place.
Q: What does ‘electronically confirm’ mean?
A: To electronically confirm your debit order means that you confirm the details of your debit order on an electronic device such as your cellphone, your bank app, your personal computer or perhaps an ATM. Your bank will let you know which options are available for you to use.
Q: Why the need to electronically confirm debit orders?
A: It ensures that you are in control of and aware of debit orders being processed to your bank account. Additionally, it provides the company that you are dealing with, with the comfort of knowing that you have acknowledged and are aware of these debits orders. It also allows your bank to record the debit order information and to check the information before they process the debit order to your account.
Q: Why is this important for me as a consumer?
A: DebiCheck puts you in control of the debit orders that you are able to confirm. You will have the comfort of knowing that DebiCheck debit orders must be processed within the agreed conditions that you have confirmed.
Q: How is DebiCheck different from what we have now?
A: DebiCheck allows you to confirm the debit order information with your bank, at the start of the contract. This means that your bank will now have a record of all DebiCheck debit orders and will be able to verify the information before the debit order is processed to your account. Currently, banks do not have record of your debit orders and therefore cannot verify that the debit order information is correct before they process your debit order.
Q: How will this new system and its related processes affect me?
A: DebiCheck will require an additional action from you – electronically confirming the debit order information with your bank. In many instances, your cellphone will be used for this confirmation, in which case you will need to make sure that your bank has your correct cellphone number. This is very important!
Q: How often will I need to confirm my DebiCheck debit order?
A: You will only need to confirm your debit order information at the start of the contract. However, if the debit order information that you confirmed changes, your bank will ask you to confirm the new information.
Q: What do I need to do as a consumer?
A: For existing debit orders – nothing. For new DebiCheck debit orders, you will need to check and confirm the new debit order information in the manner requested by your bank. This could either be in person (face-to-face), using online banking or your banking app or remotely by call centre or a request sent via your mobile phone.
Q: What education will I receive as a consumer to ensure I understand the process?
A: Your bank will have information handy to assist you with any questions you may have. You can also find more information on www.debicheck.co.za .
Q: Will all my debit orders have mandates?
A: All debit orders processed against your bank account must have mandates, but may not necessarily be subject to DebiCheck confirmation. No debit orders can be processed to your bank account without a mandate.
Q: How can I ensure all my debit orders are mandated?
A: It is important to remember that all debit orders must have mandates. Check your bank statement regularly to ensure you are aware of all debit orders that are being processed to your account. Also make sure that you have given a mandate for each of those debit orders. For DebiCheck debit orders, your bank will now also have an electronic confirmation of you agreeing with the debit order information of each mandate.
Q: Can I choose which debit orders must be electronically confirmed using DebiCheck?
A: As a consumer, unfortunately not. Companies who use the debit order system choose whether they want to use DebiCheck, or not. If they choose to use DebiCheck, you will receive an electronic request to confirm the debit order information. If not, you just need to ensure you have a signed paper or telephonically approved (voice) recorded mandate.
Q: Why can’t I use DebiCheck for ALL debit orders?
A: This is definitely a long term goal for the South African Reserve Bank and the Payment Association of South Africa. Unfortunately, due to the number of debit orders and entities involved in these processes, this will have to be done in a phased approach.
Q: How do I know that the company that is debiting my bank account is part of the new system?
A: Debit orders requiring electronic confirmation with your bank are called DebiCheck debit orders. You can enquire from the company that your debit order is with, whether or not they are part of the DebiCheck system. If you are not required to electronically confirm the debit order information with your bank, at the start of your contract, the company that you are dealing with is not using DebiCheck for this debit order.
Q: What bank fees are associated with DebiCheck debit orders?
A: For more information on bank fees, please contact your bank directly.
Q: What are the telecommunication / cellphone costs associated with DebiCheck?
A: Telecommunication / cellphone costs will depend on a number of factors, for example whether you use the USSD option or your banking app to confirm the DebiCheck. It will also depend on your mobile network costs.
Q: Will my bank send me a link to confirm DebiCheck debit order or ask me to send my bank details, card PIN or password?
A: No, your bank will never send you a link or ask that you provide your card PIN, password or personal details. You must always keep these safe. A request like this may be a form of phishing. If you are worried, please check with your bank.
Q: Is DebiCheck safe to use?
The Debicheck system was designed by banks and according to the prescribed industry standards. The system is therefore secure. Your bank will communicate how you can securely and electronically confirm your debit orders. You will therefore need to ensure that your bank has your updated cellphone number and that all your contact details with the bank are up to date.
Q: Will DebiCheck allow me to cancel my debit order?
A: You will be able to suspend your DebiCheck debit order with your bank, which means the debit order will not be processed to your account in future. You should still contact your service provider to confirm that you are cancelling the debit order though. Suspending the debit order with your bank does not cancel the contract that you have. This is something that would have to be done directly with the company.
Q: Is it a new type of debit order?
A: Yes, DebiCheck is a new type of debit order. It is a debit order which you have electronically confirmed the debit order information, with your bank.
Q: Will it require extra effort and time?
A: Yes. It will require you to check the message that your bank sends you to ensure the debit order information is correct and then to confirm the information in the way your bank requires. It may be as simple as pressing confirm on your banking app, typing in a ‘1’ on a USSD string or typing in a code on your cellphone. The way in which you can confirm your DebiCheck debit order will be communicated to you by your bank. It is therefore important that your contact details, especially your cellphone number, is up to date with your bank.
Q: Why is it important for the bank to have my correct cellphone number?
A: Although not the only way, one of the primary means of contacting you to perform a DebiCheck confirmation will likely be through your cellphone. Remember, DebiCheck is all about putting you in control and allowing you to confirm your DebiCheck debit orders directly with your bank. For this to happen, your bank has to know which number to contact you on.
Q: Will I have to go into the bank branch to do a DebiCheck confirmation?
A: Not necessarily. You will be able to go to your branch, but you won’t HAVE to. Your bank will make a number of options available for you to electronically confirm your DebiCheck debit order, for example on your cellphone or internet banking.
Q: How will it work?
A: For DebiCheck debit orders, you will receive a request from your bank to electronically confirm the debit order information relating to the new contract you have signed with a company. Once you confirm that the information is correct, you bank will load the information on a mandate register. Your bank can then verify the information every time before the debit order is processed to your account. If the information matches, the debit order is processed. If not, the debit order is rejected.
Q: How much is it going to disturb me during work?
A: DebiCheck only requires your confirmation once off, at the start of the contract or when the confirmed information changes afterwards. You won’t need to confirm the details every month. Therefore, it really won’t be a disturbance at all.
Q: Do I have to confirm my DebiCheck every month?
A: No, only at the start of your contract. Or, if any of the information you confirmed originally, changes.
Q: Why do I need to confirm my debit order again if I have already signed a contract with the service provider?
A: DebiCheck allows you to confirm the details of your debit order with your bank, which in turn allows your bank to know what you have confirmed. Your bank will therefore be able to verify the debit order information before the debit order is processed to your account.
Q: Does it mean that if the company does not participate in DebiCheck, I will not be protected?
A: No, as a consumer, you are always protected. Irrespective of the type of debit order, there always has to be a mandate in place that you have agreed to.
Q: Where can I find more information about DebiCheck?
You can contact your bank or go to www.debicheck.co.za for more information.
Q: Is this another service provided by the bank?
A: DebiCheck is a type of debit order and is a bank product, used by companies and consumers.
Q: Is there a mobile application for DebiCheck?
A: No, there is no separate mobile application for DebiCheck.
Q: Is it similar to RICA and FICA?
A: No, this is not similar to RICA or FICA. Although, if your bank does not have your correct cellphone number, it may cause some difficultly. Therefore, please ensure that your details are up to date with your bank. It is in your best interest and will ensure that it is easy to confirm a new DebiCheck debit order.
Q: Is DebiCheck a third party between me and the bank?
A: No DebiCheck is not a separate company / third party. DebiCheck is the name of a new type of debit order that was developed by the South African banks.
Q: Why is DebiCheck being introduced?
A: Over the last few years, there has been an increase of debit orders being processed to bank accounts without permission (a mandate) from consumers. On the other hand, consumers who dispute debit orders that do have valid mandates, has also increased, which has become a huge concern for banks and companies. As a result, the South African Reserve Bank (SARB) asked the Payments Association of South Africa (PASA), which includes the South African Banks, to find a solution. That is why, in 2017, the industry will be launching DebiCheck. Implementation will be carried out over a period of more than 2 years, which means that participating companies will start using DebiCheck over this period. Not all companies will start using DebiCheck at the same time; it will be phased in over a period of time to ensure that the system remains stable.
Q: What are the benefits to me, the User?
A: If you are a User wanting to collect money in the Early Processing Window, you will be required to participate in the new system. Being a DebiCheck User means that you will have the benefit of receiving confirmation that mandates, already authorised by your customer, are being stored by his / her bank. This will result in less disputes with “no authority to debit” and provide you with improved protection against consumers abusing the system for cash management purposes. The new system will also provide the opportunity to introduce a non-face-to-face facility for authentication and thus improve flexibility as compared to the current Authenticated Early Debit Orders (AEDO) option.
Q: What do I have to do from a technology perspective? What actions are required to implement DebiCheck?
A: Any User who wants to make use of the DebiCheck system as a collection method will have to engage with their sponsoring bank to obtain the User specifications. These specifications must be used to develop the processes and connectivity to be able to utilise some or all of the available authentication methods, submit payment files for processing, receive response files and effect amendments to the mandated details stored at the consumer’s bank. There are also System Operators who can assist to make the transition painless – please check with your bank. Depending on your type of business, authentication technologies and processes are available for face-to-face and / or remote interaction, and batch or real-time processing.
Q: How much will this cost me?
A: There will be internal development cost to implement the new system and processes, which you will have to calculate and manage based on the specifications supplied by your sponsoring bank. For costing between your company and your bank and / or System Operator (if applicable), you will have to consult with the relevant entity.
Q: Is it mandatory to participate?
A: If you want to collect in the Early Processing Window, you will have to participate as a DebiCheck User. Alternatively, you may choose to do your collections in the normal EFT debit order run.
Q: How do I register to become part of DebiCheck?
A: Contact your sponsoring bank to register for the DebiCheck service. If you currently process Authenticated Early Debit Orders (AEDO) or Non-Authenticated Early Debit Orders (NAEDO) transactions, do not assume that you will automatically have access to the DebiCheck system. The banks may apply different criteria. Check with your corporate banker.
Q: Will I receive technical support?
A: Different Users will require different levels of technical support. Your bank will supply the specifications, but if your IT department needs help, there are a number of System Operators who are geared to assist at your required skill level. Your bank will have a list of preferred System Operators and Third Party Payment Providers, or you may reference the Payment Association of South PASA website (www.pasa.org.za) for a list of authorised System Operators.
Q: How will we be relaying the messages publically to support consumer education?
A: The industry has created a DebiCheck Toolkit. The toolkit includes standard messages that both banks and Users should use when communicating to consumers. There is also pre-designed (yet customisable) material, such as posters, flyers, e-mailers and brochures, available. Banks will create internal marketing and educational material for the benefit of their customers. Using the scripts and pre-designed artefacts, you may also create your own material, within the boundaries of the industry toolkit. You can contact your User association or your sponsoring bank for the material.
Q: What support and rights do I have?
A: As a User, you have the support of your sponsoring bank and System Operator, if applicable. If you have any additional questions that you cannot find answers to in the available correspondence, your first point of contact should be your sponsoring bank. You have the right to participate in the new DebiCheck system if you implement the changes and meet the requirements and rules for participation.
Q: As a User, how do I manage education and value to my customers?
A: Discuss your marketing ideas with your bank and get approval for the message you want to communicate – especially in the initial stages where there may be uncertainty and conflicting information. All communication must consider the industry DebiCheck communication guidelines.
Q: Is there a platform that I can capture or integrate with? Or do I need to develop my own?
A: Your Bank will provide the specifications and description of the process, but generally you will have to incorporate the changes into your own systems. Users who currently make use of systems supplied by System Operators or Third Party Payment Providers will receive updates from these entities in due course.
Q: Is there a way of simplifying this process while still being compliant?
A: Right now, unfortunately not. The industry needs to implement and run the system for a few months to see what works well and where improvement is required. Once there is a better understanding, there may be changes introduced to simplify the process, if needed.
Q: What will happen to Authenticated Early Debit Orders (AEDO) and Non-Authenticated Early Debit Orders (NAEDO) once DebiCheck is introduced?
A: AEDO and NAEDO will continue to run, but will be phased out over time. No new AEDO or NAEDO mandates will be allowed after 31 January 2019 and from 1 November 2019, only DebiCheck debit orders will be allowed for processing in the early processing window. For more information regarding the project approach and timelines, speak to your sponsoring bank or your User association.
Q: What happens if my company is not ready to move across onto the new system? Can my company continue to use Non-Authenticated Early Debit Orders (NAEDO) for collections?
A: Yes, but only for a limited time. Users will be on-boarded over a period of two and a half years, starting with the pilot phase in July 2017. For more specific information regarding timelines for your company, please contact your sponsoring bank.
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One other consideration is whether the investing activity is taxed as capital or income. Putting your portfolio in a company ring-fences any trader/income status to that portfolio so any other capital gains in your own name say regarding your own business or some long term interest like property or shares in a family company are taxed as capital and not tainted by active trading in the company. The downside is that losses in the company cannot be offset against gains in your own name and vice versa. I moved my portfolio into a company but as Simon says there are both advantages and disadvantages of having done so
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I would really appreciate if someone from Standard Bank could contact me as i would like to discuss my complaint in person to somone who is in charge of the lounges.
I await on a response.
Note from Moshele
Hi Wayne. Please email us on [email protected] with your contact details and some information regarding your compliant, so that the relevant team can assist.
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Please be advised that when you link your initial card to the app, a default dashboard is created of which other accounts that you may have, may be linked to the card linked to the Mobile Banking App. Please note that while it is possible to delete other dashboards, it is currently not possible to delete your default dashboard as this would be equivalent to you deleting your Mobile Banking App. Alternatively, if you wish to delete an added dashboard, you may follow the below steps:
- Swipe from left to right to open the navigational drawer (or click on the settings icon on the top left corner of the screen).
- Simply go to settings, then select the dashboard that you want to delete. Scroll down to the bottom of the screen and select delete dashboard.
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This app is a complete waste of time , data & energy. It’s forever on unexpected errors & is extremely frustrating & annoying... what happened to “Simpler Better & Faster” ?? C’mon StandardBank !! This is very disappointing !!! Pity we are unable to rate a ZERO star !
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Step 1; Enter the email address used to sign in > Enter the password for the new online banking site > Click on the ‘Sign In’ button
Step 1 Add Dashboard
Step 2; Click on drop-down arrow > Select profiles and settings
Step 2 Add Dashboard
Step 3; Enter your card number > Enter your ATM PIN for the card > Enter the cell phone number or email address that you have provided to the bank > Click on the ‘Next’ button
Step 3 Add Dashboard
Step 4; Enter the One Time Pin sent to your cell phone or email address > Click on the ‘Submit’ button
Step 4 Add Dashboard
Step 5; Enter a name for the new dashboard > Click on the ‘Save’ button
Step 5 Add Dashboard
Step 6; Your n ew Dashboard has been added Step 6 Add Dashboard
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What products do I have access to as a Temporary Resident?
With Standard Bank you have access to a variety of products.
What type of permits do you accept for Personal Banking?
All Permits are accepted for personal banking, as long as they are valid.
What documents do I need to open an account? And how often do I need to update my information? How?
You are required to produce a valid permit and passport (If you’re a Refugee, a Refugee ID is required and if you're an Asylum Seeker, an Asylum Seeker certificate is required) 3 months’ bank statement and Proof of Residence. If anything changes with your personal information, you have to go to your nearest branch to update your information with the staff.
What restrictions do I have as a Temporary Resident?
Do I have access to Standard Banks online banking services?
Yes, you do have access online banking with Standard Bank
Can I send money abroad? And How?
Yes, you are able to. Standard Bank has Forex services as well as Money Gram. You can also now make international payments using new Online Banking and the Mobile Banking App.
Do you have Foreign Exchange services? And how can I access them as a temporary Resident?
Yes, Standard Bank has Forex services. You are more than welcome to look at our offerings here and as a temporary resident you do have access to these services.
As a Non-Resident, can I open up an account for Foreign Currency?
Yes, you can, The Non Resident center can assist you with that
How do I update my information once I have a Non- Resident account?
You will have to email the Non Resident Centre with certified copies of your updated information.
How secure is my money if I plan on investing in South Africa?
Your money is very secure, we have a variety of investment and saving options for non- resident account holders. Please contact the Non Resident center for assistance.
As a Non-Resident account holder, Do I have access to electronic banking?
Yes you have access to view your accounts on new Online Banking and the Mobile Banking App
Are there Saving and Investment options as a Non-Resident account holder?
Yes, there are Saving and investment options as a Non Resident Account holder. This will enable you to gain high interest while saving with Standard Bank.
I plan on moving to South Africa. How do I apply for temporary Residency and do I have access to switching my account when I get to South Africa?
You may visit your nearest Standard Bank branch and yes, you have the option of switching your account to a South African based financial solution.
As a Non- Resident once I get to South Africa for visiting, do I have access to a Debit Card, and is there a limit to how much money I have access to in South Africa?
Yes, you have access to a debit card once you land in South Africa, to support your financial needs once in South Africa
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Standard Bank understands that there are unique banking needs and challenges for foreign nationals, whether they are Temporary Residents or Non-Residents. Temporary Residents are individuals who are either; Diplomats, Asylum Seekers, Refugees or Common Monetary Area (Namibia, Swaziland and Lesotho) Residents, while Non Residents are those individuals who are either South Africans who have emigrated from South Africa or Foreign Nationals who reside outside of South Africa but have a banking needs within South Africa.
Temporary Residents have access to all the products and services that Standard Bank provides to South Africans, online or in our branches, while Non Residents have access to a Non Resident Centre which can assist with can assist with the service and maintenance of all accounts, the Non Resident Centre can be reached on +27 11 631 6543 or [email protected] If you’re considering emigrating, we will assist to make sure that all your financial affairs are in order as well.
Requirements to open an account;
The law requires that before we open any account, that we request the necessary documentation from our clients, as such the required documents to open an account are;
Temporary Residents & Diplomats
Visa or Permit
Proof of Residence
Foreign National Declaration Form (Provided in branch when you go to open an account.)
UNCTD (Travel Document)
Proof of Residence
Foreign National Declaration Form
Passport or Asylum Seeker certificate
Proof of Residence
Foreign National Declaration Form
Proof of residence (CMA or SA)
Non Resident & SA Emigrant
A valid Proof of Identity
Details of your primary residential address
Current; 3 months’ bank statement from previous countries bank, showing account activity
A signed certificate of introduction from previous countries bank, showing your personal details, with their name and contact number on the letter.
For credit accounts, additional documentation will be required as per the National Credit Act, this includes; Proof of Income, 3 months’ pay slip or statements and an employment contract.
For information on permits, you can contact South African Home Affairs.
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If you are currently not registered for old Internet Banking or the Mobile Banking App and want to register for new Online Banking, you will need to follow these steps;
Step 1; Access our Online Banking login page and select ‘Register for Online Banking’.
Step 1 Registering for new Online Banking
Step 2; Create your new sign-in details in the fields under ‘Getting Started’. This will need your email address and for you to create a new password.
Step 2 Registering for new Online Banking
Step 3; Verify that your information is correct. Accept Ts & Cs and then select ‘Register Now’.
Step 3 Registering for new Online Banking
Step 4; Your profile has now been successfully created as a new user. You will now need to either link your card, copy your profile (if you had old IB) or open a new account (if you are not a Standard bank customer).
Step 4 Registering for new Online Banking
Step 5; If you are linking your card, you will need to complete your card details (including your card number, ATM PIN and contact number for this card).
Step 5 Registering for new Online Banking
Step 6; Enter the One Time Password (OTP), to confirm that you are completing the linkage. Once complete, you are now registered and linked and will be able to start using new Online Banking.
Step 6 Registering for new Online Banking
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I can imagine that this development may be frustrating, your feedback will be shared with our App Development team for consideration. In the meantime please do consider using the above alternatives to continue enjoying the features & benefits of Digital Banking.
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Could I unknowingly have made a purchase if I walk past the terminal?
No. Your card has to be within 4cm of the contactless terminal and held for more than half
a second and the merchant must have first entered the amount for you to approve.
Is there any chance that payments may be taken twice from my account?
Contactless terminals are designed to accept one card per transaction at any time
How do I know that my transaction information is secure?
The contactless technology platforms are based on secure EMV chip technology, which
provides both data protection and transaction security via the use of keys and the latest
encryption technology. Transactions are processed through the same payment network
as EMV chip transactions.
Why aren't signatures or PINs required?
To ensure that using contactless technology is as simple and convenient as
cash, merchants that accept contactless payments do not require you to sign or enter
your PIN for small purchases of under R500. Some Merchants may request a signature
Is this technology as secure as my current card?
Yes. The MasterCard ® or Visa security systems will continue to offer you protection from
unauthorised transactions. In addition, with contactless technology, you retain control of
your card during the transaction, which reduces the risk of fraud.
What do I do if my contactless card has been lost or stolen?
As with any other card, if you have lost your card or suspect unauthorised activity on your
account, stop using your card and contact the Customer Contact Centre on 0800 020
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What is a contactless card?
Contactless technology is a fast new contactless way to pay. No signature or PIN is required for purchases under R500.
All you have to do is wave or tap your contactless card against any of the secure contactless readers and your payment will be processed.
Contactless cards have an embedded antenna within the plastic so that when it is used at a contactless terminal it securely transmits information to and from the contactless terminal.
This is a card that can be used to perform everyday purchases without having to swipe or dip at merchant checkout points.
All contactless cards can be clearly identified by the PayPass or PayWave logo on the face of the card.
How does it work?
Look out for the paypass, paywave or contactless logos below at the merchant’s checkout points.
Wave or tap your contactless card against the contactless readers when payment is requested. For payments below R500, no PIN will be required during the transaction.
The terminal will display a green light and beep to confirm that your payment has been accepted.
In the event that your contactless transaction cannot be completed, you can still swipe or dip your card to complete the transaction.
Tap & Go is the next evolutionary step in the development of cardsFirst there was 'zip zap', then there was the magstripe, then there was the chip and now there is 'Tap to Pay'
First there was 'zip zap', then there was the magstripe, then there was the chip and now there is 'Tap to Pay'
How do I use my contactless card?
Check that your card has the MasterCard PayPass or Visa PayWave logo.
Where you see the MasterCard paypass logo or the Visa payWave logo in combination with the contactless symbol, let the merchant know you'd like to pay using your contactless card and if you'd like a receipt for the transaction.
When the transaction amount is shown on the contactless terminal, hold your card against the contactless symbol.
The terminal will indicate once your transaction is approved. Collect your receipt if you asked for one, and you're done!
What are the benefits of contactless technology?
Speed – paying at merchant checkout points is faster and easier. There will be no need to enter your PIN for transactions of R500 and below.
Convenience – you don’t have to carry cash all the time, making this ideal for small everyday purchases.
Safety and security – you are always in control of your card as your card never leaves your hand and has to be extremely close to the reader for the contactless payment to occur. Standard Bank will also offer protection against unauthorised contactless transactions performed on your card if you have reported the card stolen or lost
The card is a dual interface card and can still be dipped or swiped to make payments, if a merchant does not have a contactless terminal.
How does contactless technology benefit me?
You don't always have to carry cash or worry about looking for exact change when
making small value everyday purchases at participating merchants
You can save time due to quicker transactions, which can mean shorter queues
You are in control because your card never has to leave your hand when making a
payment at the terminal
You don't have to sign anything or enter a PIN for purchases under R500
You will have a record of all your everyday purchases on your account statement
What do I need to be able to use contactless technology?
All you need is a dual interface card with the paypass ™ or payWave feature. To find out if
your card has contactless technology, check that it has the paypass or payWave logo on
How do I recognise a contactless card?
The MasterCard paypass logo or Visa payWave logo will be displayed on the front of the
Do I need to select the credit, savings, or cheque buttons when I make a contactless transaction?
No, there's no need to press any buttons on the contactless terminal. With contactless
technology the transaction is automatically processed to the transaction account or credit
account linked to the credit button.
Can I get cash out using contactless technology?
You can't get cash out from a contactless transaction i.e. by only holding your card
against the terminal. You will need to insert your card and PIN into terminal.
How close does the card need to be to the terminal?
You should hold your contactless card within 4cm of the contactless terminal.
Will I receive a receipt for transactions I make?
A contactless payment is designed to let you make low value transactions quickly and
conveniently. If you'd like a receipt to confirm the contactless transaction, just ask the
merchant before you pay. For purchases R500 and over, a receipt will be provided after
you swipe or insert your card and sign or enter your PIN.
How will purchases with a contactless card appear on my account statement?
Purchases made with your contactless card will be displayed on your statement in the
same way any other purchase you make with your card is displayed. This means you can
now track all those small, everyday transactions on your statement.
Is there a limit on the value of goods or services I can purchase with contactless technology?
What happens if I try to purchase goods over R500 ?
For purchases over R500 you can still use your contactless card by swiping or inserting
the card in the terminal and providing your signature or PIN.
Can I use my card at merchants that do not have contactless terminals?
The card has a chip and magnetic stripe that also allows the card to be used in the same
way a card without contactless technology is used* (when you sign or enter a PIN to
complete a transaction).
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On June 29, we hosted the final round of the Seedstars World South Africa start-up competition – the world’s largest start-up competition in emerging markets. The winner was Essential Medical Guidance (EMG) Tech, an innovative Cape-based company that supplies a comprehensive medical database to medical professionals. Born in Switzerland, Seedstars allows community-focused start-ups the opportunity to network with other entrepreneurs, while also exposing them to the broader international business community, whose members may wish to invest in a start-up, or help introduce their services in other parts of the world. The competition attracts more than 5 000 entrants, and, on the day of the finals, about 200 people attended with a record of over R2 billion in investment capital represented.
What made this event truly noteworthy was the wide scope of entrepreneurial ventures being developed by tech-savvy South Africans. The start-ups were also widely representative, with four being female founded or co-founded and five with black founders. Ten of the best early-stage start-ups were invited to pitch to a panel of judges and potential investors in the audience. On the panel sat Jayshree Naidoo, Head of the Standard Bank Incubator, a space designed to continuously assist SMEs through a series of customised workshops that run throughout the year. EMG Tech won the opportunity to attend the Seedstars regional summit in Mozambique and represent South Africa against other emerging-country start-ups at the Seedstars Summit in Lausanne, Switzerland next year, where the global winner will be awarded up to USD 500 000 in equity investment. EMG Tech’s major market offering is EMGUIDANCE, a product that, among other services, details pharmaceutical offerings, their uses, prescription information, and care coordination information to medical professionals free-of-charge through their personal mobile devices.
The first and second runners-up are Zlto and Empty Trips Pty Ltd, respectively. Zlto is a digital rewards platform that incentivizes its users for positive behaviours, promoting the doing of good. Empty Trips is Africa’s first online smart transport marketplace connecting transporters, brokers and shippers. The other startups invited to pitch were GreenFingers Mobile, mbora, CommuScore, Muzi, Invoiceworx, Lenoma Legal, and Home Farm. Our partnership with Seedstars and its local ambassador, Vuyisa Qabaka, is a natural extension of our involvement in the development of the SME sector at all levels. According to Mrs. Naidoo, one can confidently say that innovation and entrepreneurship are alive and thriving in South Africa, with more than 600 companies in South Africa presenting their ideas to Seedstars this year as proof.
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