Swaziland Building Society (SBS) is invested in ensuring convenience for its customers by facilitating seamless transacting on the 24/7, always on, Digital Channels this festive season.
SBS Manager Digital Services Sandile Langa, mentioned that it does not end there, but customers can easily process payments to local banks, Instacash, Unayo, Eswatini MTN MoMo and Eswatini Mobile e-Mali within seconds.
This is made possible by the Eswatini Payment Switch (EPS) Fast Payments which allows payments to flow with ease even during weekends and public holidays. The EPS allows for near real-time, anytime transfers involving both bank accounts and virtual wallets. This facilitates interoperability and enhances financial inclusion.
Key features
Real-time transactions: Payments are processed in seconds, a significant improvement from the previous system which could take hours or days.
Interoperability: The system enables seamless transfers between various financial service providers, including different banks and mobile money services (e.g., sending money from a bank account to a MoMo account).
Accessibility: Transactions can be done using existing digital channels like USSD Mobile Banking (cellphone banking), Banking App and online banking platforms.
Transaction limits: Daily limits are currently set at a maximum of E50 000 for bank account transfers and E10 000 for mobile wallets.
Langa went on to highlight the following SBS digital channels conveniences:
- Make beneficiary payments on the SBS Banking App
- Send or receive money with SBS ePocket
- Pay in-store with SBS ePocket Pay
- Purchase electricity, airtime and bundles on USSD Mobile Banking (*800#)
- Deposit cash at an SBS Automatic Deposit Machine (ADT)
- Pay water bill
Download statements and proof of payments on your Online Banking.
It is important to ensure safety and security during the festive season.
Langa advised customers to:
- Keep your PINs, OTPs and debit card details secret
- Always be vigilant and never accept unsolicited assistance from strangers
- When in doubt, contact the SBS Fraud Hotline 8006010.
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