You need to register with your bank as a telephone banking client in order to bank by telephone. You can register by telephone or by going into a branch.
For example, if you phone First National Bank to register for telephone banking, you will be prompt-ed to choose a telephone banking personal identification number (PIN), and a consultant will guide you through the registration process. Within 48 hours, you will receive a call to confirm that you have been registered for telephone banking, and you will be given a 10-digit access number.
There are two ways to bank by telephone: the first involves talking to a consultant and the second is by using an interactive voice response (IVR) line.
If you use an IVR line, a computer-generated voice will ask you to respond to pre-recorded instructions by pressing buttons or numbers on your telephone keypad. For example, you may be told to press 1 if you want a statement of your account balance. You will then be asked to key in your account number. A computer-generated voice will then read out your balance.
The advantage of IVR is that it is available 24 hours a day, seven days a week and every day of the year, regardless of public holidays.
Although you can also bank outside traditional business hours if you interact with a consultant, the times are limited on Sundays and public holidays.
If you speak to a telephone banking consultant, you can make balance inquiries; transfer funds between your accounts; make monthly payments; set up, change and cancel stop orders; order cheque books; request to have a statement faxed to you; and access information about new products.
You cannot change your PIN if you speak to a consultant, because that would involve revealing your PIN to a bank employee. The bank would never ask you to do this, because it exposes you to fraud.
If you use IVR, you can transfer funds between accounts, pay your accounts, request faxed statements, make balance inquiries and change your PIN. IVR does not give you the option of setting up or changing a stop order, ordering cheque books or making monthly payments.
Each time you bank by telephone, you will be given a reference number for the call. Make a note of this reference number, because you will need it if you later want to verify or dispute transactions on your account. You must keep this reference number, because your monthly statement will record only specific transactions but will not reflect telephone calls where no transactions were carried out.
Cellphone banking
The advantages of cellphone banking include making free balance inquiries, free mini-statements and being able to top up your prepaid cellphone airtime for free.
The mobility of cellphone banking means it is convenient and, best of all, you won't have to stand in bank queues.
Cellphone banking is safe because you log on using your ATM card number and a customer-selected PIN (CSP). This PIN is not the same as your ATM PIN.
Your banking details are also not stored on your phone, so if you lose your phone or it is stolen, your banking details are safe, Charles Street, the head of Standard Bank's Mobile Channel, says.
Street says there are three ways Standard Bank customers can register for cellphone banking:
- From your cellphone, using your phone's internet browser if you have a WAP 2.0-enabled cellphone. WAP stands for wireless application protocol, which is a technology that enables your cellphone to connect to the internet.
Go to www.standardbank.mobi using your cellphone's browser (look for a button with an icon of the world on it). Select "cellphone banking", then click on "register" and follow the prompts.
If you have not already created one, you will be asked to create a CSP, which can be used on any of Standard's self-service banking channels, including the internet.
In order to register for cellphone banking, you will need an ATM card number, your current or cheque account number, your identity number and your ATM PIN or CSP.
- Via internet banking. You will need to log on to Standard Bank's internet banking site through your cellphone browser, click on "profile" and select "profile details".
A one-time password valid for each banking session will be sent to your cellphone via SMS or email.
You enter the one-time password and select "continue". Scroll down to "channels" and select "cellphone banking", then select "continue" and "confirm". You can then go to standardbank.mobi to transact via your cellphone.
- Phone Standard Bank's call centre and ask one of the consultants to guide you through the registration process.
Each bank's registration process for cellphone banking is unique. You should contact your bank's helpline or customer care number to find out how you can register for cellphone banking.
You access cellphone banking through the mobile internet to transact on your cellphone. This is done through either WAP or GPRS (general packet radio service), through which the internet sends and receives data on your phone.
Your cellphone's instruction manual will tell you if your cellphone has WAP or GPRS. Most cellphones today are WAP-enabled.
What will it cost you?
Some banks charge you a monthly subscription fee, which could be as much as R19, to bank by telephone or cellphone.
Other banks do not charge you a monthly subscription fee, but charge you a transaction fee based on the type of transactions you perform. For example, Absa charges you R3 to transfer money between your accounts if you use your cellphone.
The charges for using telephone banking vary depending on whether you use an interactive voice response (IVR) line or interact with a telephone banking consultant. For example, if you bank with Absa, you are not charged for balance inquiries if you use IVR, but you pay R2.45 if you use a consultant.
In addition to bank fees, you may have to pay your cellphone service provider network charges. These charges are levied based on the amount of information sent to and from your cellphone. This is basically your GPRS costs and these charges are usually very low. For example, making a payment to a beneficiary could cost you as little as four cents.
Setting up your cellphone for GPRS
If you use Vodacom:
- Enter *111# and press the "dial" key;
- Select option 3 - phone settings;
- Select option 2 - Vodacom will identify your phone for you; and
- Vodacom will send you the GPRS settings.
You can also dial 111 from your handset if you want an operator to talk you through the set-up process.
If you use MTN:
- Enter *123# and press the "dial" key;
- Select option for phone settings;
- MTN will identify your phone for you; and
- MTN will send you the settings.
You can also dial 173 from your handset if you want an operator to talk you through the set-up process.
If you use Cell C:
- Go to SMS messages;
- Create a new message containing the word "smartdata";
- Send the SMS to 084 155 9911; and
- Cell C will send you the settings.
You can dial 140 from your handset if you require further assistance.
If you use Virgin Mobile:
- Go to the "Virgin Mobile" menu, which you will find on either the main menu or the applications menu of your cellphone;
- Select "Virgin Mobile";
- Select "Virgin settings"; and
- Reply "yes" when asked if you want to download the settings.
You can also dial 123 from your handset if you want an operator to talk you through the set-up process.