Nedbank To Stop Manual RTGS Payments, Joins Other Banks

Nedbank has just announced that as from the 11th of May they will no longer process manual RTGS payments. Nedbank’s drive to do paperless banking coincides with a number of banks that went paperless.

Formerly named MBCA, Nedbank is urging its customers to shift manual RTGS processing to online banking through its Nedbank Access platform. Current customers who want to do process their RTGS have to register on Nedbank’s internet banking platform. Here is how to register;

• Visit any Nedbank Branch and complete an internet profile application form
• Once your form has been processed you will be allocated a profile number and a temporary/default password, which will enable you to access the internet banking site at https://www.internetbanking.nedbank.co.zw
• After your first login with your new profile number and default password, the system will prompt you to change the default password to your own password.

After that, you can do your RTGS.

Nice move but are they ready for Internet Banking?

It’s hardly disputable that internet banking offers convenience to customers and banks as compared to a brick and mortar bank. Customers can access banking services 24/7 and banks incur low overheads in providing banking services.

But as we have seen in the migration of some banks to online banking, the transition hasn’t been smooth as some customers faced many frustrating problems. The following is a list of the common problems faced by customers when banks introduce paperless banking;

• Failing to sign up or register
• Some phones failing to do banking on the Apps
• Slow adoption to reach critical mass quickly on the online platform
• Apps or websites that consume a lot of data etc.

Above all, banks will continue to face the challenge of making the rural areas adopt paperless banking. In Zimbabwe’s most rural areas, electricity remains a mirage hence these areas still lag in accessing the internet to do paperless banking.