• What is a beneficiary? | back to top
A beneficiary is any person, company or account whom you wish to pay from your WebTransact profile. Before you can make a payment to such person, company or account, you first need to create the beneficiary on your profile.
A beneficiary may have an account with another bank or with Integer. You may also create a beneficiary record for another one of your own accounts. The following three scenarios are therefore possible:
- The beneficiary has an account with another external bank.
- The beneficiary has an account with Integer. Although a payment to such a person is done through a beneficiary payment, the transaction is in actual fact an internal transfer.
- You can set up one of your own accounts as a beneficiary e.g. your Home Loan Account. This will enable you to create a recurring payment from e.g. your Transact Account to your Home Loan Account on a regular basis. Although such an automated payment instruction will be done through a recurring payment, the transaction is in actual fact an internal transfer, and is still free – refer to the relevant FAQ's regarding Recurring payments. Once-off internal transfers between your own accounts should be done through an Interaccount transfer – refer to the relevant FAQ's regarding Interaccount transfers.
Once you've added a person, company or account as a beneficiary on your profile, future payments can also be made to the beneficiary without having to add all the details of the beneficiary again.
• How do I pay a beneficiary? | back to top
To pay a beneficiary, follow these easy steps:
- Select the "Payments" menu and the "Pay beneficiary" sub-menu.
- First select your Transact Account in the "From account" from the drop down list. This is the account from which you would like to make your payment.
- Select the specific beneficiary whom you would like to pay from your list of beneficiaries that were previously set up.
- Enter the amount that you would like to pay.
- The available daily limit on this beneficiary is displayed. This is therefore the amount that you are allowed to pay to the beneficiary today.
- Click on "Next" and then on "Confirm".
- You will receive a Random Verification Number (RVN) notification via email, fax or SMS, depending on the setup of your profile. For more information regarding the RVN notification or to set up your profile, please refer to the FAQ "What is RVN Notification?".
- Enter the RVN when prompted to do so, click on "Next" and "Confirm".
- The detail of the beneficiary is displayed and you are allowed to make changes to the following fields:
Own defined:
- Beneficiary's reference – the reference that should appear on your beneficiary’s statement.
- Your reference - the reference that should appear on your statement.
- Amount – the amount that you would like to pay.
- Send proof of payment - you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment.
- Proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you have selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s mobile - if you have selected that the beneficiary should be notified through an SMS, you need to provide the mobile number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you have selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
- Additional message for proof of payment – any additional information which you would like to add to the proof of payment can be added here.
- Send proof of payment to me – you need to indicate if you require a proof of payment to be sent to yourself when you’ve made a successful payment.
- Proof of payment - you need to indicate the method through which you should be notified of the payment that you made. The options are:
Pre-defined:
- Beneficiary’s reference – the reference that should appear on your beneficiary’s bank statement.
- Your reference - the reference that should appear on your bank statement.
- Amount – the amount that you would like to pay.
- Send proof of payment - you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment.
- Proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you’ve selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s cellphone - if you’ve selected that the beneficiary should be notified through an sms, you need to provide the cellphone number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you’ve selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
- Additional message for proof of payment – any additional information which you would like to add to the proof of payment can be added here.
- Send proof of payment to me – you need to indicate if you require a proof of payment to be sent to yourself when you’ve made a successful payment.
- Proof of payment - you need to indicate the method through which you should be notified of the payment that you made. The options are:
- Click on "Pay" and then on "Confirm".
- A message will be displayed that the payment was successful.
• When will the beneficiary receive the payment? | back to top
We need to distinguish between beneficiaries whose accounts are with external banks and beneficiaries who have accounts with Integer.
- When a beneficiary payment is done from your Transact Account to another Integer Transact Account, the funds will be transferred immediately.
- Beneficiary payments from your Transact Account to an external bank account are referred to as outgoing EFT (Electronic Fund Transfer) transactions. The following principles apply to the processing of these transactions:
- payments made on weekdays before 14.00 will be credited to the receiving account by midnight of the same day.
- payments made on weekdays after 14.00 will be credited to the receiving account by midnight the following day.
- payments made on Saturdays before 10.00 will be credited to the receiving account by midnight of the same day.
- payments made on Saturdays after 10.00 will be credited to the receiving account by midnight of the first following business day.
- payments made on Sundays or Public Holidays will be credited to the receiving account by midnight of the first following business day.
• How do I view the history of payments made to my beneficiaries? | back to top
- Select the "Payments" menu and the "Payment history" sub-menu. All your beneficiaries will be listed in a drop-down list.
- Select the specific beneficiary of whom you require a payment history from the drop down list. To obtain the payment history of all beneficiaries, select "All".
- Complete the "Date from" and "Date to" for which you require the payment history by making use of the calendar link provided.
- Click on "Refresh".
- The following information will be displayed as part of the payment history:
- Payment date – the date on which you paid the beneficiary.
- Beneficiary name – the name of the beneficiary as it is set up on your profile.
- Beneficiary reference – the reference that appears on the statement of the beneficiary.
- Statement reference – the reference that appears on your statement.
- Amount – the amount of the payment that was made
- Rejection code – if the payment to the beneficiary was rejected, a rejection code will appear. The contact centre will be able to assist you with the descriptions of the rejection codes e.g. "Account closed" if the beneficiary’s account was closed.
• Can I set up a single future-dated payment to a beneficiary? | back to top
Yes. This can typically be of use when you will not be able to physically make a payment or transfer on a specific date (e.g. you will be on holiday) and wishes to set up a future dated payment. This single future-dated payment can be set up for a beneficiary at an external bank, a beneficiary with an Integer account or another of your own accounts which was added as a beneficiary on your profile.
You will simply make use of the "Recurring payment" functionality on WebTransact but with the important differences set out below. Please refer to the FAQ "How do I add a recurring payment?".
- Frequency – the frequency that you should select is "Once".
- Pay day – enter the specific day of the month when the payment should be made e.g. 25th.
- Start date – enter the specific date on which the automated payment should be done. This should correspond to the Pay day entered above. E.g. if you’ve indicated that the payment should be made on the 25th, the start date should also be the 25th of the specific month in which you require the payment. (Start date should not be “today”)
- End date – as a result that the start date and end date cannot be the same date, enter the day following the start date. E.g. if you've entered the start date as the 25th, the end date should be the 26th.
• Where are the transaction limits set up that apply to the beneficiary payments? | back to top
Two types of limits exist and are set up under the menu "Account Portfolio" and the sub-menu "Customer Limits" or "Account Limits":
Customer Limits
A transaction limit may be specified on customer level, which provides a limit for the total amount of all WebTransact transactions that are allowed per day. The total amount of all beneficiary payments and internal transfers done on a specific day, could therefore not exceed the customer’s daily transaction limit.
Account Limits
Transaction limits for each account of the customer may be set up for the following transactions:
- Internal transfers
- Beneficiary payments
- Once off payments
The transaction limit is the maximum daily limit for these transactions that may be processed on your WebTransact profile. Keep in mind that the total amount of all WebTransact transactions should be equal or less than the transaction limit on Customer level.
If no limit is specified for the above transactions, you will not be able to perform such transactions. As a result of the limit being 0.00, the message being displayed to you will be "You have exceeded your set limits". For more information, please refer to the FAQ "What is an account limit?"
• How do I add a beneficiary to my profile? | back to top
These are payments to third parties that could be on the Integer WebTransact beneficiary master (Pre-defined) or payments going to beneficiaries where you have the bank account number, branch code and account type (Own defined).
To add a new beneficiary to your WebTransact profile, follow these easy steps:
- Select the "Payments" menu and the "Beneficiaries" sub-menu.
- Click on "Add new".
- You will receive a Random Verification Number (RVN) notification via email, fax or SMS, depending on the setup of your profile. For more information regarding the RVN notification or to set up your profile, please refer to the FAQ "What is RVN Notification?".
- Enter the RVN when prompted to do so, click on "Next" and then on "Confirm".
- Enter the required information regarding your beneficiary:
Own defined:
- Beneficiary name – the name of your beneficiary as it will appear on your WebTransact profile.
- Beneficiary’s reference – the reference that should appear on your beneficiary’s statement.
- Your reference - the reference that should appear on your statement.
- Beneficiary account number – the account number of the beneficiary where the funds should be paid into. This can be an account number at an external bank or with Integer.
- Beneficiary branch code – the branch code where the account of the beneficiary is held.
- Beneficiary bank – The bank where the account of the beneficiary is held. This can be another bank or with Integer.
- Beneficiary account type – the type of account of the beneficiary.
- Note that the system will perform a CDV (Check Digit Verification) check on account information. This means that the system will not accept the beneficiary details if either one of the account number, branch code, bank or account type is incorrect.
- Send proof of payment – you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment. The selection that you make here will be the default, but you will be able to change this whilst in the process of making a payment to the beneficiary.
- Pay from this account – you need to indicate from which account you would normally make payments to the beneficiary. This is only applicable where you have more than one Transact Account. The selection that you make here will be the default, but you will be able to change this whilst in the process of making a payment to the beneficiary.
- Preferred proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you have selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s mobile - if you have selected that the beneficiary should be notified through an SMS, you need to provide the mobile number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you have selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
Pre-defined:
- Beneficiary name – the name of your Beneficiary as it will appear on your Internet profile.
- Beneficiary – select the beneficiary from the drop down list.
- Beneficiary’s reference – the reference that should appear on your beneficiary’s bank statement.
- Your reference - the reference that should appear on your bank statement.
- Beneficiary account number – the account number of the beneficiary where the funds should be paid into. This would typically be an account number or credit card number.
- Usually send proof of payment – you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment. The selection that you make here will be the default, but you will be able to change this whilst in the process of making a payment to the beneficiary.
- Pay usually from this account – you need to indicate from which account you would normally make payments to the beneficiary. This is only applicable where you have more than one account. The selection that you make here will be the default, but you will be able to change this whilst in the process of making a payment to the beneficiary.
- Preferred proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you’ve selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s cellphone - if you’ve selected that the beneficiary should be notified through an sms, you need to provide the cellphone number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you’ve selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
- Click on "Save" and then on "Confirm".
- A message will be displayed that the beneficiary was added successfully.
• How do I change beneficiary details? | back to top
- Select the "Payments" menu and the "Beneficiaries" sub-menu. All the beneficiaries that were previously added will be available in a drop-down list.
- Select the specific beneficiary who you would like to change from the drop down list on your profile.
- Click on "Edit".
- You will receive a Random Verification Number (RVN) notification via email, fax or SMS, depending on the setup of your profile. For more information regarding the RVN notification or to set up your profile, please refer to the FAQ "What is RVN Notification?".
- Enter the RVN when prompted to do so, click on "Next" and "Confirm".
- Make the changes that you require.
- Click on "Save" and then on "Confirm".
- A message will be displayed that the update was done successfully.
• How do I delete a beneficiary from my portfolio? | back to top
A beneficiary can be deleted in two ways:
- Directly from the list of beneficiaries without viewing the details of the beneficiary.
- By first viewing the details of the beneficiary through the "Edit" function and then deleting it. This method can be used if you are unsure of the beneficiary that should be deleted and viewing the details of the beneficiary will assist you to identify that you are deleting the correct one.
- Delete directly from list of beneficiaries
- Select the "Payments" menu and the "Beneficiaries" sub-menu. All the beneficiaries that were previously added will be available in a drop-down list.
- Select the specific beneficiary who you would like to delete from the drop down list on your profile.
- Click on "Delete".
- Confirm that you want to delete the beneficiary when prompted to do so.
- A message will be displayed that the update was done successfully.
- Delete by first viewing beneficiary details.
- Select the "Payments" menu and the "Beneficiaries" sub-menu. All the beneficiaries that were previously added will be available in a drop-down list.
- Select the specific beneficiary who you would like to delete from the drop down list on your profile.
- Click on "Edit".
- You will receive a Random Verification Number (RVN) notification via email, fax or SMS, depending on the setup of your profile. For more information regarding the RVN notification or to set up your profile, please refer to the FAQ "What is RVN Notification?".
- Enter the RVN when prompted to do so, click on "Next" and "Confirm".
- Click on "Delete".
- Confirm that you want to delete the beneficiary when prompted to do so.
- A message will be displayed that the update was done successfully.
• What is a Once-off payment? | back to top
A "Once-off payment" is used when you would like to make a payment to a beneficiary, without creating the beneficiary on your profile. Examples of such payments would be a Once-off payment for car rental.
• How do I make a Once-off payment? | back to top
To make a Once-off payment, follow these easy steps:
- Select the "Payments" menu and the "Once-off payments" sub-menu.
- First select the "From account" from the drop down list. This is the account from which you would like to make your payment. This is only relevant when you have more than one account.
- Enter the amount that you would like to pay.
- The available daily limit for Once-off payments is displayed. This is therefore the amount that you are allowed to pay to the beneficiary today.
- Click on "Next" and thereafter on "Confirm".
- You will receive a Random Verification Number (RVN) notification via email, fax or sms, depending on the setup of your profile.
- Enter the RVN when prompted to do so, click on "Next" and "Confirm".
- Depending on whether the payment is made to an Own defined or Pre defined (Third party) beneficiary, the following fields must be completed make the Once-off payment:
Own defined:
- Beneficiary name – the name you would like to give the beneficiary.
- Beneficiary Bank – the bank where the account of the beneficiary is held. This can be another Bank or the same Bank where your account is held.
- Beneficiary Branch code – the branch code where the account of the beneficiary is held.
- Beneficiary account number – the account number of the beneficiary where the funds should be paid into. This can be an account number at another Bank or at the same Bank where your account is held.
- Beneficiary account type – the type of account of the beneficiary e.g. bond account, current account, etc.
• Note that the system will perform a CDV check on the bank account information. This means that the system will not accept the beneficiary details if either one of the account number, branch code, bank or account type is incorrect.
- Beneficiary’s reference – the reference that should appear on your beneficiary’s bank statement.
- Your reference - the reference that should appear on your bank statement. Amount – the amount that you would like to pay.
- Send proof of payment - you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment.
- Proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you’ve selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s cellphone - if you’ve selected that the beneficiary should be notified through an sms, you need to provide the cellphone number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you’ve selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
- Additional message for proof of payment – any additional information which you would like to add to the proof of payment can be added here.
- Send proof of payment to me – you need to indicate if you require a proof of payment to be sent to yourself when you’ve made a successful payment.
- Proof of payment - you need to indicate the method through which you should be notified of the payment that you made. The options are:
Pre defined:
- Beneficiary name – the name you would like to give the beneficiary.
- Pre defined beneficiary – select the beneficiary from the drop down list.
- Beneficiary account number – the account number of the beneficiary where the funds should be paid into. This would typically be an account number or credit card number.
- Note that the system will perform a CDV check on the bank account information. This means that the system will not accept the beneficiary details if either one of the account number, branch code, bank or account type is incorrect.
- Beneficiary’s reference – the reference that should appear on your beneficiary’s bank statement.
- Your reference - the reference that should appear on your bank statement.
- Amount – the amount that you would like to pay.
- Send proof of payment - you need to indicate if you require a proof of payment to be sent to the beneficiary when you’ve made a successful payment.
- Proof of payment – you need to indicate the method through which the beneficiary should be notified of the payment that you made. The options are:
- Beneficiary’s email – if you’ve selected that the beneficiary should be notified through an email message, you need to provide the email address of the beneficiary.
- Beneficiary’s cellphone - if you’ve selected that the beneficiary should be notified through an sms, you need to provide the cellphone number of the beneficiary.
- Beneficiary’s fax dial code and fax number - if you’ve selected that the beneficiary should be notified through a fax, you need to provide the fax number of the beneficiary.
- Additional message for proof of payment – any additional information which you would like to add to the proof of payment can be added here.
- Send proof of payment to me – you need to indicate if you require a proof of payment to be sent to yourself when you’ve made a successful payment.
- Proof of payment - you need to indicate the method through which you should be notified of the payment that you made. The options are:
- Click on "Pay" and thereafter on "Confirm".
- 10. A message will be displayed that the payment was successful.
• How do I view my history of Once-off payments? | back to top
- Select the "Enquiries" menu and the "Once-off history" sub-menu.
- Complete the "Date from" and "Date to" for which you require the payment history by making use of the calendar link provided.
- Click on "Refresh".
- The following information will be displayed as part of the payment history:
- Payment date – the date on which you paid the beneficiary.
- Beneficiary name – the name of the beneficiary as it is set up on your profile.
- Beneficiary reference – the reference that appears on the bank statement of the beneficiary.
- Statement reference – the reference that appears on your bank statement.
- Amount – the amount of the payment that was made
- Rejection code – if the payment to the beneficiary was rejected, a rejection code will appear. The call centre will be able to assist you with the descriptions of the rejection codes e.g. "account closed" if the beneficiary’s account was closed.
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