Grade 11 InternetBanking Task Task 1,7 By RicardoCosta-Tré To whom it may concern: Internet Banking In this document, you will find information regarding the procedures,safety measures, the advantages and disadvantages, and the charges regardingInternet Banking.
I trust this information will be useful to you and yourbusiness. 1. Procedures – This section will be focusedon the step-by-step procedure that is required to start your journey throughthe world of Internet Banking. The process is extremely easy and user friendlyto follow. I. Toregister follow the link: https://onlinebanking.standardbank.
co.za/#/login whereyou will meet a sign in page. Select ‘Register for online banking’. II.
Next, you will be taken to a page where youwill have to enter in your email, password and preferred name. After filling themin, click on ‘You accept the terms and conditions’, followed by the ‘REGISTERNOW’ button. III. Next, you will receive a selection of what youcan do. You can either link your old online banking account, link your card oreven open an entire new bank account. If you choose ‘Open anaccount’.
Follow the on-screen prompts to which they will ask your details suchas nationality, country of citizenship, gender, date of bir4th, ID number, etc.However, if you already have acard with Standard Bank, you can click on ‘Link your card’, where you willenter your card number, ATM PIN, and cell-phone number or email address. Congratulations!You have successfully registered for Online Banking! 2. Saftey Measures – This section provides a basicoverview of the safety measures taken when crating and using an Online Bankingaccount. Standard Bank is regularlymaking security updates to help keep all your personal information, as well asyour money, safe and sound.
Standard Bank also helpssecure your money as well, by requesting a OTP (One Time PIN) whenever theaccount is logged in on another platform, device, web browser or differentlocation. This helps keep your money safe from hackers who may have managed toobtain your password.Whenever this happens you willreceive an email or SMS, containing a OTP which will be required to be enteredbefore you are able to precede and access your account. OTP will also be usedfor certain transactions. Not only does Standard Bankhelp protect your money and information with a OTP, but also with the requiredpassword system. Although many see this as a problem and disadvantage (aspeople constantly must acquire a OTP), it happens to be one of the best ways toprotect your account.
Standard Bank will require you to use a variety ofdifferent characters to make it difficult for hackers to break. 3. Advantages and Disadvantages – In this section, a tableregarding the advantages and disadvantages regarding Online Banking will beprovided. Advantages Disadvantages Quickly make once-off payments, beneficiary payments Set up future and repeat payments Simple international payments Make inter-account transfers Apply for a current account Open savings & investment accounts View and print statements Buy prepaid products and services Pay your traffic fines and municipal bills online Overdraft limit increase · Can bank outside of banking hours · Don’t have to stand in queues at the bank · Unable to pay when Standard Bank servers are down · Not accessible to those who don’t have the technology Another advantage that is not listed is the fact thatStandard Bank has an app available in the AppStore on both iOS as well asAndroid, that allows you to access our account on the go.
It is completely freeand uses no data, so you don’t have to worry about bills coming in from yourservice provider for banking. All you need is signal, and you are ready to go! 4. The Charges – This section covers the basiccharges of Internet Banking. Internet Banking with Standard Bank is prices on thefollowing methods of charges:· Pay asyou transact – payment made per transaction.· Fixedmonthly fee – monthly fee to pay that covers charges of anumber of transactions.
· Rebateoption – certain fees will be repaid back into your account if youkeep a balance of R10 000 or more for a full calendar month.This document was compiled by: Ricardo Costa-TréStudent at School of Merit References Rantai, S., 2018. Prestige Banking Consultant Interview 2018. Standard Bank, 2018. New Internet Banking.
Online Available at: http://www.standardbank.co.za/standardbank/Personal/Self-service-banking/New-Internet-banking?cid=WPS_9bd51312=AL!119!3!183193010128!b!!g!!%2Bstandard%20%2Bbank%20%2Bonline%20%2Bbanking=WjACXAAAAHZtX3NG:20180127171527:s