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Financial planning

Overview


Benefits

to reading your bank statement every month

  • Going through your bank statement will help you track the debit and/or stop orders that are going off on your account and can help you track any fraudulent activity on your account such as unauthorised debit orders. You can also notice if debit orders are still going off for accounts hat have long been paid up or closed
  • Going through your bank statement will help you understand the bank fees you are paying. This can help you adjust in future and avoid high-fee transactions such as drawing money at a bank teller.


Tips

to use your debit card safely

  • Hide your PIN when entering it into the machine.
  • Store your debit and your credit card safely; treat your cards like cash.
  • When you have more than one debit or credit card, only keep the one you are likely to use in your wallet. Leave the others in a safe place at home.
  • Notify the bank immediately should you lose your card; and if the bank is closed, telephone the calll centre number to report a lost or stolen card.


Tips

to use your debit card safely

  • View balances;
  • Buy prepaid airtime, SMSs and data bundles;
  • Buy prepaid electricity;
  • Send money;
  • Pay your accounts;
  • Apply for loans;
  • Make payments (incl. once-off payments);
  • Transfer money between accounts;
  • Place notice on your savings accounts;
  • Send money;
  • Use your phone to scan and pay


Safety tips

when using mobile and online banking

  • Always set passwords for your devices and do not leave your phone unlocked
  • Memorise your PIN, never write it down or share it with anyone.
  • If you receive a phone call requesting personal information do not respond and end the call.
  • Choose an unusual PIN that is hard to guess and change it often.
  • Remember, for your own security you are required to re-enter your PIN before each transaction.
  • If you think your PIN has been compromised, or you've been a victim of fraud, contact our fraud centre immediately and change your PIN.
  • Avoid responding to competition SMSs or MMSs.
  • Don't allow websites or phone apps to start without requiring a username or password from you
  • Don't select links you don't or trust
  • Don't open attachments from people you don't know
  • Only install apps you trust on your phone

Transacting


I don't understand banking fees...

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Bank statements


The bank keeps a record of all your transactions throughout the month and provides it to you in your monthly bank statement.

Benefits


Distinguish between your

  • It will help you track what is coming in and what is going out of your bank account
  • It will help you track what you are spending money on: are you spending a lot on takeaways and eating out? Are you spending a lot on movies and entertainment?

Banking made easy

Tips


to use your debit card safely

  • When buying something make sure that the card you are given back is your own card.
  • Do not let your card get out of your sight. Rather go to the card machine with the shop assistant helping you or ask them to bring it to you.

Cellphone banking and online banking


Cellphone banking, also called mobile banking, as well as online banking are all methods of banking in which transactions are conducted electronically.

Safety tips


when using mobile and online banking

  • Launch your banking app in secure Wi-Fi networks, don't use free Wi-Fi when doing banking
  • Try not to use public devices like shared computers when doing your banking
  • Make sure that your device has software to protect it against viruses