Internet Banking and Electronic Transfers

What is Internet Banking?

This is banking you do over the internet, also referred to as online banking. More and more people are choosing online banking because it saves time and hassle. For example you can make payments online, you can pay your electricity, pay your clothing accounts and most of your bills without ever having to stand in a queue! And anytime you want to know the balance in your account or want to check on transactions going through your account, you simply log on with your secure login and password.

Does Postbank have an Internet Banking facility?

Yes, Postbank currently offers internet banking facility to individual internal staff (no groups) and will be available in future to external customers. You will be able to perform a host of functions from the comfort of your computer, including transfers, account payments and account statements.

How do I sign up for Internet Banking?

To sign up for Online Banking you need to have a card based account which can be opened at any Post Office branch. Registration as an Internet Banking user can only be done online.

What is an electronic transfer?

An electronic transfer is an exchange of money that is done electronically, in other words, from one bank account to another without having to physically move or carry cash around.

This is a very quick and safe way of paying your various accounts or for having money deposited into your account.

How do I make an electronic transfer?

There are various options. You can arrange to do this from any of your Postbank card account by application at a Post Office retail branch. If you are an existing client, you have the option to complete our online credit order instruction form. You can also arrange this directly with, for example, your insurance company or your cell phone provider depending on what regular expenses you have.

How do you transfer funds from an international bank to a Postbank account?

The bank from which the transfer is done must use the swift code of Standard Bank in South Africa from where they will arrange the transfer. The correct swift code has to be used, as it is used to convert foreign currency. As there are costs involved when converting foreign currency the customer will be responsible for the charges. The Standard Bank swift code is: “SBZAZAJJ”.

The Standard Bank account number is 010547843, Branch Code 010045. The Bank concerned must send a message or reference together with the transfer telling Standard Bank that the money must be transferred to Postbank account with the customer’s Postbank account number and the branch code: 460005.