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** interface all your banking-related data with leading accounting software packages ** transfer high volumes of data (statements, bulk payments and collections) on an automated, two-way basis using straight-through processing ** process receipts against your debtors’ accounts ** pay creditors, employees and third parties (such as medical aid societies, pension funds and garnishee orders) in a single batch We hope that this solution will assist your company in simplifying your cross-border transactions and we look forward to continuing a prosperous relationship with you.ĭomestic Banking is a Windows-driven system, delivered through Business Online, that uses internet technology to provide a range of business banking services and financial information through its account management, funds transfer and messaging modules. ** Cash and liquidity management will be greatly improved ** All rand transactions will be processed speedily With reference to this and in terms of balance of payments reporting, the South African Reserve Bank requires all authorised dealers and banks to report incoming funds within 48 hours of an account being credited.ĭue to this statutory requirement please do note that we will contact your office within 48 hours of any rand transaction being processed on your behalf. In an effort to speed up the processing and reduce the risk of all cross-border rand transactions, we have developed an automated straight through processing (STP) solution, which has already been used by retail banking customers over the past three months to great success.įrom 1 October 2010, you too can benefit from this technology, as we roll this solution out to all of our corporate customers. Regular reports will be provided detailing information on all verified or unverified accounts. ** Determine whether the account accepts debits or credits. ** Confirm how long the account has been open.
BUSINESS ONLINE STANDARD BANK CONTACT VERIFICATION
Account Verification ServiceĪre you 100% certain that your payments are going into genuine bank accounts? Our Account Verification Service (AVS) validates the details of your selected payees to ensure that the correct parties receive the funds you release.ĪVS will verify the following information before allowing any transactions to take place: Getting to the Business Online application via a bookmark or desktop icon will mean that you will not get the latest updates which may result in you experiencing problems when logging onto Business Online. This will ensure that system updates that we periodically implement occur automatically and will not require any additional action on your side. It is recommended that you always access the Business Online application from the website or (then select Business Online from the drop down menu on the right of the page). Related / Similar Service : Standard Bank BOL SA Mobile App Standard Bank South Africa Business Online Service