Your guide to online business banking

Overview

Online Banking is a powerful Internet-enabled tool that allows business clients to make cross-currency payments and transfers in accordance with internal rules and controls.

Understanding user rights

• Users need to be assigned either of the following rights to be able to use Online Banking:
  • View Only
  • View & Input
  • View and Authorise
  • View, Input and Authorise
• Users need to be assigned either of the following rights to authorise a transaction:
  • View and Authorise
  • View, Input and Authorise
• Where applicable, they will also need the appropriate “A” or “B” signatory level
• They must also have an activated Security Token

Terminology

The following terminology is used in relation to payments and transfers:

• From Customer – the customer from whose account the transaction will be made
• From Account – the account belonging to the From Customer from which the transaction will be debited
• To Customer – the customer to whose account the transaction will be made
• To Account – the account belonging to the To Customer to which the transaction will be credited.

All transactions consist of an Instruction, Confirmation, and Receipt.

Confirmation and receipt

Once a transaction has been set up, it will need the necessary authorisation before being processed.

• On the Confirmation page, you will see the details of your instructions for the transaction
• You can amend the transaction at this stage by selecting the ‘Back’ button at the bottom of the page
• Users with View, Input and Authorise rights will be able to authorise the transfer once submitted for processing
• The security code from the Security Token will be required to complete this final step to authorise the transaction
• You can choose to cancel the instruction altogether by selecting the Cancel button. This will return you to the Customer list view.

Once your instruction has been processed

• A receipt will be displayed that shows the transfer details, reference number and the name of the User who entered and/or authorised the instruction
• You can print the receipt at this stage, if required

Transaction Parameters

All transactions you perform on Online Banking – whether making payments or transfers – have common requirements and specifications that you should bear in mind.

• Payments to accounts held at other banks should be requested using the Payments function.
• Transfers to accounts held with Standard Bank, but outside your Group, should also be requested using the Payments function
• The full available balance in an account may be transferred to an account of the same currency
• Cross-currency transfers are possible in the following currencies: GBP, USD, EUR, CHF, ZAR, AUD, CAD, JPY, NZD, AED, DKK, NOK, SEK, RUB, HKD and SGD
• All cross-currency transfers are subject to Standard Bank's foreign exchange limits
• Should the available balance be less than the foreign exchange limit, you will only be able to transfer up to the available balance. Foreign exchange charges (where applicable) should be taken into account when making cross currency transfers
• Pre-dated inter-account transfers of up to 5 working days are possible
• Fully authorised inter-account transfers will appear immediately on the transaction history
• Any cross-currency inter-account transfer that has not been fully authorised before the day’s cut-off times, will automatically be deleted
• Same-currency transactions may remain in the Pending Transaction List for up to 3 working days, including the input day
• Transactions that have not been fully authorised at the close of business on day 3 will be deleted
• The originating user will be alerted by email of the reference numbers of all deleted transactions
• Transfers between accounts of different customers held with Standard Bank under the same Group number should be requested using Inter customer transfers.

Should you experience any problems when requesting an inter-account transfer, please contact your Client Relationship Manager.

Authorisations

Payment and transfer authorisations are linked to registered users’ rights.

To authorise transactions individually:

• Click on the Authorise button to display the transaction details
• Enter the security code displayed on the Security Token, then click on the Confirm button

Batch authorisation allows multiple inter-account and inter-customer transfers, payments and stored payments to be performed at once:

• Click on the Batch Authorisation tab under the Pending transactions menu
• All transactions available to the user will be displayed
• Select the required transactions by ticking the check boxes and click Batch Authorise
• The selected transactions will be displayed
• Enter the security code displayed on the Security Token, then click on the Confirm button
• A message “Batch Authorisation complete” will be displayed together with the result
• This will be either Successful or Transaction failed, if unsuccessful
• You can print the receipt at this stage, if required