You may add any beneficiary to your profile provided that you have activated the SMS Authorisation facility on your profile.
The following beneficiaries may be added to your profile:
Beneficiaries with other South African bank accounts
Approved Beneficiaries. An "approved beneficiary" is a company or institution with which Nedbank has a special payment agreement for your convenience (e.g. Telkom). When paying an ’approved beneficiary’, you don’t need the beneficiary’s banking details; just select the beneficiary from the list provided.
Credit Card accounts
How do I get connected to NetBank?
If you’re not already a Nedbank client you will need to first apply for an account, either online or via a Nedbank branch. To bank online, you will need a profile number, a PIN and a password.
Complete the Digital Banking Application form available online or at your nearest branch. Once your profile has been created, you will be provided with a profile number and a temporary PIN.
You will be required to visit the branch to authenticate yourself so remember to take along your ID when you visit the branch. You will be required to change your temporary PIN to a permanent PIN within six days of receiving it. You can use any electronic facility to create your permanent PIN.
NetBank will prompt you to create your password when you first logon.
What is NetBank’s Website address?
NetBank can be accessed via the `Internet Banking’ link on the Nedbank site or directly via www.netbank.co.za.
How do I ensure that my login page is secure?
There are a few checks that tell you whether your page is secure:
Make sure that the padlock on the bottom of the screen is closed.
add up to 99 accounts and up to 99 beneficiaries to your profile;
order cheque books;
make once-off payments;
view cheque and deposit slip images;
change your profile PIN and password;
and find out the latest foreign exchange rates.
What is my daily payment/transfer limit?
For security reasons you are allocated a daily maximum limit for transfers and payments. This limit is usually arranged with your branch at the same time as your profile. NetBank displays the daily limit and the limit available on most screens.
Has payment gone through the account?
When you pay a third-party beneficiary, your payment may not go through immediately. Always allow for a delay, especially when making payments to accounts at banks other than Nedbank or Old Mutual Bank. Payments between banks are sent to the Automated Clearing Bureau (ACB) once a day. They are then sorted and distributed to the destination bank the following business day, a process that is affected by weekends and public holidays. As a guide: when you make a payment to another bank on Monday morning, the funds will be available on Wednesday.
How do I get my PIN?
To get your PIN Once your profile has been created, your branch will give you a temporary PIN (you will need to present your ID). You must change this to a permanent PIN within six days of receipt - use the SST, Internet or Telephone banking facilities to do this.
To get your password After you have created your permanent PIN, NetBank will prompt you to create your password. This must consist of six to 10 characters and contain at least one letter and one number.
My PIN has been compromised: What do I do?
If you suspect that your PIN has been compromised, visit your nearest Nedbank branch as soon as possible and get a new temporary PIN (take your ID with you).
What if I forget my PIN?
Your PIN does not expire but you can change it on any `Self service banking channel’ whenever you wish. We recommend that you change your PIN regularly. If you cannot remember your PIN, please visit your branch in order to obtain a new temporary PIN (take your ID with you).
What must I do if I forget my password?
If you forget your password, or invalidated it by entering it incorrectly three times, and your PIN is still valid, call the Nedbank Contact Centre on 0860 115 060 where you will be assisted.
What is SMS authorisation?
SMS serves as an additional security measure when performing certain functions on internet banking, such as:
When adding beneficiaries to your profile.
How long will it take to receive my SMS reference number?
The reference number should take a few seconds to reach your cellphone.
However, if it does happen to take longer than a few seconds (due to network traffic) you may continue with other banking transactions while awaiting your reference number.
Please note, reference numbers will never include the alpha character `O’ but could include a zero.
When is additional authentication required?
Additional authentication is required whenever you add beneficiaries with other South African bank accounts to your profile or make once-off payments, above your daily once-off payment limit, to these accounts. You will then need to be additionally authenticated by means of a reference number sent via SMS to your cellphone.
How do I transfer funds using NetBank?
To make a transfer:
Select "transfers" from the main menu
Select the "from" account
Select the "to" account
Enter the amount
Click "make transfer"
Click "confirm transfer"
The transfer is completed. To print the transfer confirmation, click "print proof of transfer".
What is the difference between a transfer and a payment?
A transfer is a movement of funds between your own linked Nedbank accounts.
A payment is a movement of funds to a third-party account e.g. Edgars, the municipality, etc.
How can I apply for SMS functionality?
The SMS authorisation facility initially requires you to personally visit a branch, register your details and provide your cellphone number.
Have your ID at hand when visiting the branch.
Allow 24 hours for the facility to be activated.
What do I need to know about SMS authorisation and the reference number?
Reference numbers will never include the alpha character `O’ but could include a zero.
SMS authorisation applies when doing once-off payments and adding beneficiaries online
You will only receive a reference number via SMS while in the process of transacting when additional authorisation is required.
Only one SMS reference number will be generated and required per online banking session, irrespective of the number of once-off payments made or beneficiaries added.
SMS reference numbers are unique, so the same reference number will never be used more than once.
There are no charges for SMS reference numbers.
SMS authorisation does not apply to inter account transfers or payments to beneficiaries already loaded on the profile.
I do not have a cellphone. Will I still be able to do my banking?
Yes. SMS authorisation is only required for certain NetBank functionality. It will be required if you want to make once-off payments or when adding beneficiaries to your profile.
How do I add a beneficiary and make payments on NetBank?
Adding a beneficiary:
’Add beneficiaries’ - allows you to add beneficiaries to your profile. You can add:
other Nedbank or Old Mutual Bank current, savings, home loan or investment accounts;
a credit card;
an account with another bank (e.g. Standard Bank, Absa etc); and
a bank-approved beneficiary (Edgars, Telkom, etc).
Example of how to add a beneficiary
To add a Nedbank or Old Mutual Bank account:
Select ’beneficiaries’ from the main menu.
Select ’add new beneficiary’ from the dropdown menu.
Select the account type (the ’reference number capture’ screen will be displayed).
Enter the reference number (sent to your cellphone via SMS).
Enter the account number.
Enter ’my statement description (DR)’ - this description will be reflected on your statement.
Enter ’beneficiary statement description (CR)’ - this description will be reflected on the statement of the beneficiary.
Click ’add beneficiary’.
The beneficiary addition is completed.
(NB: Please refer to the NetBank User Guide, available on the logon page, for assistance with adding beneficiaries).
Making a payment:
Payments can be made from selected accounts linked to your profile to:
beneficiaries on your list (e.g. your doctor); and
Once-off payments can be made from selected accounts on your profile to:
other Nedbank or Old Mutual Bank accounts;
a credit card; and
an account with another bank.
Example of how to make a payment:
To make a payment to a linked beneficiary:
Select ’payments’ from the main menu.
Select the account to pay from.
Select ’my beneficiary list’.
Select the beneficiary.
Enter the amount.
Click ’make payment’.
Click ’confirm payment’.
The payment is completed. To print the payment confirmation, click ’print proof of payment’.
(NB: Please refer to the NetBank User Guide, available on the logon page, for assistance with payments).
What is the Security Notice
The Security Notice provides detailed information about various online frauds, e.g Phishing, Keylogging and Cheque and Deposit slip scams.
Why must I ’Accept’ that I have read the Security Notice
It is a requirement from the Banking Ombudsman, that the bank inform clients about online frauds. Hence you are required to acknowledge having read the information, so that bank may keep a record in accordance with the Ombudsman’s requirements.
Will I have to read and accept this Security Notice everytime I logon to internet Banking?
No, once you have acknowledged that you have read the information, by selecting the tick box and then clicking on the ’Accept’ button, the Security Notice will be displayed the next you logon.
When will the the Security Notice be displayed
You will only be required to read and accept the security notice again, if any information has been changed or updated.
What is the reason for the Disclaimer?
The aim for the Disclaimer is to alert and educate our clients about various online scams. Over the past few months there has been an increase in online scams across the entire banking industry. The Disclaimer provides clients with some precautionary measures to take when banking online.
What is the difference between the Disclaimer and the Security Notice?
The Disclaimer only provides high-level information about online scams and precautionary measure that clients must take when banking online.
The Security Notice provides detailed information about each type of online scam and also gives clients with allot more tips/preventative measures, in order for clients to protect their personal and account information, as well as the funds.
Is it necessary to display this every time I want to logon to do my banking?
Due to the increase of these online scams and the extend to which fraudsters will go to gain client information and access to their accounts, it is important for the Bank to alert and educate the client as regularly as possible and to keep this topic of security top of mind.
We have compiled a list of quick links to
help you find your way quicker.