Formed by a group of South African businessmen in October 1862 as Standard Bank of British South Africa, the bank has changed its name thrice. From its original name to Standard Bank PLC and then to Standard Chartered Bank Africa PLC in 1985. Now, it is named Standard Chartered Africa Ltd.
Standard Bank has evolved and gained a remarkable presence on the African continent and in other parts of the world. Besides providing reliable financial services for over a century and a half, Standard Bank has penetrated 20 countries in Africa, with over 49,000 staff, and has been on the Johannesburg Stock Exchange (JSE) list for over fifty years. Standard Bank is undeniably one of the oldest and trusted financial institutions in SA and indeed across Africa and the world.
Like many other new generation banks, Standard Bank keeps innovating new ways and developing technologies to make life easier for their ways. One of the ways they do this is by developing technologies that make it easy for customers to transfer money within the bank and other banks. So if you are a Standard Bank customer and have been wondering how easier it can get transferring money to other banks, this article is your best bet. It explains and guides you on how to transfer money from your Standard Bank account to Capitec and other banks.
Transferring Money From Standard Bank to Capitec
Transferring money from Standard Bank to Capitec can be done through three methods:
- Use of a mobile app
- Via USSD code
- A visit to the bank
The Mobile App Method
To use this method, you must have downloaded and registered the app on your mobile phone. Once you have done this, you follow these steps:
- Launch the app on your phone
- Click the “sign-in” button and enter your app code. If you choose the biometric authentication method as a way of identification then you will use your fingerprint sensor as your own code
- When you are signed into the app, click on the transfer button on the left side of the screen. Once you have done that, click on the other bank’s option to select from the list of banks displayed on the screen. Then scroll down to select Capitec.
- Having selected Capitec as the bank you wish to make a transfer to, click on the “account number” field and enter the account number you wish to make the transfer to then click on the “their reference” field. Note that whatever you type here will appear on the beneficiary’s bank statement, showing them who made the payment.
- Then click the “my Reference” field. Whatever you enter here will be printed on your own bank statement. Having correctly entered all the required information, click on “next” on the top right-hand corner of the screen.
- Next, will be to enter the payment details. On the “payment details” page, you need to choose which account you will be paying from. Then click on “the blue rand field” and enter the amount you want to pay.
- Then click on the “review” button on the top right-hand corner of the screen to confirm that every detail you have supplied is correct. If you want to change anything, click the “back” button on the top left-hand corner of the screen. Otherwise, click “confirm”.
- A One-Time Password (OTP) will be sent to you. Once the OTP arrives, enter it in the space provided, and click “Submit”. Once the transfer has been successfully processed, a green “Transfer Successful” notification will appear at the bottom of the screen. This takes about a minute but can be longer when there is poor network or a transaction error.
The USSD Code Method
For this method, all you will be needing is the beneficiary’s account number, your selected pin, and the USSD code (*120*2345#). Once you have these ready, follow the steps below:
- Dial *120*2345# on your phone and follow the prompts. A range of options will pop up, including paying bills and municipal accounts, making transfers, buying prepaid airtime, data, and electricity, pin resetting, and all.
- Choose the “making transfers” option by entering the numeral that corresponds to it.
You will be asked to select the preferred account you wish to make payment from if you have multiple Standard Bank accounts. - Enter the amount you wish to transfer and the beneficiary’s Capitec account number.
The next page will display all the previously inputted details for you to confirm that they are correct. - You will then be asked to key in your selected pin and the next prompt will show you whether the transaction is successful or not. This takes about a minute but can be longer when there is poor network or a transaction error.
Visiting The Banking Hall
Despite the emergence of technology and the innovation of internet/mobile banking, so many people will still opt for the option of making their transfers over the counter in a branch of the bank. If you fall into this category, we have got you covered. Below is what you should expect on your visit to the bank.
In the bank, you will be given a slip to fill in which contains details like your name, account number, the name, bank, and account details of the recipient, as well as the amount you want to transfer. After filling out these details, you will hand the slip over to a cashier who will acknowledge, stamp, and debit your account while crediting the beneficiary’s account with the specified amount.
A duplicate copy of the slip will be handed over to you as evidence of the transaction while the bank will retain the original copy.
Transferring Money From Standard Bank To FNB
Transferring money from Standard Bank to FNB follows the same procedures as transferring to Capitec. It can be done via the use of a mobile app, USSD code, or via a visit to the bank.
Via Mobile App
To use this method, you must have downloaded and registered the app on your mobile phone. Once you have done this, you follow these steps:
- Launch the app on your phone
- Click the “sign-in” button and enter your app code. If you choose the biometric authentication method as a way of identification then you will use your fingerprint sensor as your own code
- When you are signed into the app, click on the transfer button on the left side of the screen. Once you have done that, click on the other bank’s option to select from the list of banks displayed on the screen. Then scroll down to select FNB
- Having selected FNB as the bank you wish to make a transfer to, click on the “account number” field and enter the account number you wish to make the transfer to then click on the “their reference” field. Note that whatever you type here will appear on the beneficiary’s bank statement, showing them who made the payment.
- Then click the “my Reference” field. Whatever you enter here will be printed on your own bank statement. Having correctly entered all the required information, click on the “next” on the top right-hand corner of the screen.
- Next will be to enter the payment details. On the “payment details” page, you need to choose which account you will be paying from. Then click on “the blue rand field” and enter the amount you want to pay.
- Then click on the “review” button on the top right-hand corner of the screen to confirm that every detail you have supplied is correct. If you want to change anything, click the “back” button on the top left-hand corner of the screen. Otherwise, click “confirm”.
- A One-Time Password (OTP) will be sent to you. Once the OTP arrives, enter it in the space provided, and click “Submit”. Once the transfer has been successfully processed, a green “Transfer Successful” notification will appear at the bottom of the screen.
- This takes about a minute and maybe a longer time when there is a poor network or error in transactions.
Via USSD Code
For this method, all you will be needing is the beneficiary’s account number, your selected pin and the USSD code (*120*2345#) Once you have these ready, follow the steps below:
- Dial *120*2345# on your phone and follow the prompts. A range of options will pop up including paying bills and municipal accounts, making transfers, buying prepaid airtime, data, and electricity, pin resetting, and all
- Choose the “making transfers” option by entering the numeral that corresponds to it.
You will be asked to select the preferred account you wish to make payment from if you have multiple Standard Bank accounts. - Enter the amount you wish to transfer and the beneficiary’s FNB account number
The next page will display all the previously inputted details for you to confirm that they are correct. - You will then be asked to key in your selected pin and the next prompt will show you whether the transaction is successful or not. This takes about a minute and maybe a longer time when there is a poor network or error in transactions.
Visiting The Banking Hall
Despite the emergence of technology and the innovation of internet/mobile banking, so many people will still opt for the option of making their transfers over the counter in a branch of the bank. If you fall into this category, we have got you covered. Below is what you should expect on your visit to the bank.
In the bank, you will be given a slip to fill in which contains details like your name, account number, the name, bank, and account details of the recipient, as well as the amount you want to transfer. After filling out these details, you will hand the slip over to a cashier who will acknowledge, stamp, and debit your account while crediting the beneficiary’s account with the specified amount.
A duplicate copy of the slip will be handed over to you as evidence of the transaction while the bank will retain the original copy.
Transferring Money from Standard Bank to Nedbank
MakingTransfer from Standard Bank to Nedbank can be done via the use of a mobile app, USSD code, or via a visit to the bank.
Mobile App
To use this method, you must have downloaded and registered the app on your mobile phone. Once you have done this, you follow these steps:
- Launch the app on your phone
- Click the “sign-in” button and enter your app code. If you choose the biometric authentication method as a way of identification then you will use your fingerprint sensor as your own code
- When you are signed into the app, click on the transfer button on the lift side of the screen. Once you have done that, click on the “other banks” option to select from the list of banks displayed on the screen. Then scroll down to select Nedbank as your beneficiary account.
- Having selected Capitec as the bank you wish to make a transfer to, click on the “account number” field and enter the account number you wish to make the transfer to then click on the “their reference” field. Note that whatever you type here will appear on the beneficiary’s bank statement, showing them who made the payment.
- Then click the “my Reference” field. Whatever you enter here will be printed on your own bank statement. Having correctly entered all the required information, click on the “next” on the top right-hand corner of the screen.
- Next will be to enter the payment details. On the “payment details” page, you need to choose which account you will be paying from. Then click on “the blue rand field” and enter the amount you want to pay.
- Then click on the “review” button on the top right-hand corner of the screen to confirm that every detail you have supplied is correct. If you want to change anything, click the “back” button on the top left-hand corner of the screen. Otherwise, click “confirm”.
- A One-Time Password (OTP) will be sent to you. Once the OTP arrives, enter it in the space provided, and click “Submit”. Once the transfer has been successfully processed, a green “Transfer Successful” notification will appear at the bottom of the screen.
- This takes about a minute and maybe a longer time when there is a poor network or error in transaction.
USSD Code
For this method, all you will be needing is the beneficiary’s account number, your selected pin and the USSD code (*120*2345#) Once you have these ready, follow the steps below:
- Dial *120*2345# n your phone and follow the prompts.
A range of options will pop up including paying bills and municipal accounts, making transfers, buying prepaid airtime, data, and electricity, pin resetting, and all - Choose the “making transfers” option by entering the numeral that corresponds to it.
You will be asked to select the preferred account you wish to make payment from if you have multiple Standard Bank accounts. - Enter the amount you wish to transfer and the beneficiary’s Nedbank account number
The next page will display all the previously inputted details for you to confirm that they are correct. - You will then be asked to key in your selected pin and the next prompt will show you whether the transaction is successful or not. This takes about a minute and maybe a longer time when there is a poor network or error in transactions.
Visiting The Banking Hall
Despite the emergence of technology and the innovation of internet/mobile banking, so many people will still opt for the option of making their transfers over the counter in a branch of the bank. If you fall into this category, we have got you covered. Below is what you should expect on your visit to the bank.
In the bank, you will be given a slip to fill in which contains details like your name, account number, the name, bank, and account details of the recipient, as well as the amount you want to transfer. After filling out these details, you will hand the slip over to a cashier who will acknowledge, stamp, and debit your account while crediting the beneficiary’s account with the specified amount.
A duplicate copy of the slip will be handed over to you as evidence of the transaction while the bank will retain the original copy.
Which Options Above Is The Fastest Way To Transfer Money From Standard Bank?
The fastest way to transfer money from Standard Bank to other banks is undoubtedly through the mobile app and USSD codes. These methods do not require you to go to that banking hall as you can carry out the transactions from the comfort of your home or office but they are still people who prefer the old method of visiting the banking halls and we have to respect their choices.
