December 2024
Things to know before you head off for the holidays
Helpful pre-holiday tips
From expanding your fraud awareness, to maximising the potential of your virtual card to accessing international airport lounges, discover how to make your banking experience more seamless and rewarding over the holiday period.
Card fraud
As the holiday season approaches, fraudsters are using increasingly shrewd strategies to exploit sensitive financial information. While both physical and virtual cards are inherently safe - due to numerous built-in controls - they can still be vulnerable if card details are unknowingly shared with fraudsters, warns Ettienne Fourie, Head of Fraud Risk Management.
For example, a common scam involves fake SMS messages pretending to be from a legitimate courier company - which is common this time of year - requesting you to reschedule your delivery, prompting you to click on a link that takes you to a seemingly legitimate website. You are then requested to make a low value payment as part of the rescheduling process. Fraudsters do this to obtain your sensitive information such as your card or online banking login credentials. Fourie advises clients to look at the URL used and to rather confirm any deliveries directly with the courier company.
Another scheme involves fraudsters sending fake inContact messages and calling you pretending to be from RMB Private Bank's fraud department. They might even convince you to create a new virtual card and trick you into sharing this information and the OTP that the bank sends you, thereby gaining access to your card. To stay safe, Fourie advises clients to:
- Always know who you are dealing with even if someone is claiming to be from RMB Private Bank's fraud department.
- Visit the Security Centre on the RMB Private Bank App for fraud related functionality and educational material.
- Adjust limits via the RMB Private Bank App for added security.
- Avoid storing passwords on cellular devices, including internet browsers or in the cloud.
- Create virtual cards for secondary users
- Report lost or stolen phones to the bank immediately.
Create virtual cards for secondary users
Virtual cards offer a safe and convenient way to spoil loved ones this holiday season. What's more, the RMB Private Bank App now supports enhanced functionality for secondary cardholders, empowering them with greater control and convenience.
As the primary cardholder, you can either create a virtual card for the secondary user from your app or update permissions so that they can create their own virtual cards from their own app.
To create a virtual card for your secondary cardholder:
- Go to the 'Cards' page in the RMB Private Bank App
- Select 'Add a new card' and choose 'Create a virtual card'
- Under 'Cardholders' select the secondary cardholder you wish to create a virtual card for and follow the prompts
- If the cardholder does not appear on the list, a permission will need to first be assigned to them via the permissions process.
Upon successful creation, your secondary user will receive a notification on the RMB Private Bank App to complete their virtual card setup. If they do not already have the app, they will have to download and verify their banking app to finalise their virtual card setup.
To empower secondary users to create and maintain their own virtual cards:
- Log in to the RMB Private Bank App
- Go to 'My Profile'
- Tap 'Settings'
- Tap 'Permissions'
- Tap 'Credit Card Holders' / 'Users'
- Select the cardholder name and tap 'enable'
Secondary cardholders can easily block or unblock a card, maintain their PIN, and register for a digital wallet. Those with full permissions can also create a secondary virtual card and manage it with the same features as their primary card.
Visa Airport Companion App
Wherever in the world you're holidaying, we're here to ensure you travel in style. The Visa Airport Companion App powered by DragonPass offers exclusive access to over 1 200 international airport lounges. To gain access, you'll need to register on the Visa Airport Companion App using your Global Debit Card. Follow these easy steps:
To register:
- Download the Visa Airport Companion App from your app store and install it on your device
- Select 'Sign Up' and provide the information requested
- Verify your profile with a six-digit code that will be sent to your mobile number or email address
After successful verification, you'll be asked to create a password and be directed to the app home screen where you can access and use your lounge benefit.
At the airport, log into the Visa Airport Companion App, search for the lounges in the airport and generate a QR code. Present the QR code to the lounge staff and enjoy the indulgence before taking to the skies.
International payment standards
Seamless, secure, and efficient cross-border payments are vital during the busy travel season. For individuals and businesses navigating international transactions, access to innovative, globally competitive solutions is essential allowing money to move effortlessly across borders for everyday and seasonal needs.
'We've built a value proposition that competes on both depth and accessibility,' says Ebert Strydom, Product Head of Cross Border Payments. With payment solutions such as PayPal, MoneyGram, and SWIFT, the offering addresses diverse client needs in cross-border payments.
Strydom highlights advancements driven by partnerships: 'Through MasterCard, we're enabling new payment pathways, including mobile wallets, bank accounts, cashout options, and pay-to-card solutions. These ensure beneficiaries worldwide can access funds with ease.'
A seamless platform integrating domestic and international payment capabilities remains a priority, simplifying transactions while aligning with global benchmarks for innovation and efficiency.
Real-time payments are another critical focus area. 'Our partnership with BankservAfrica has introduced a real-time, 24/7 financial rail for instant payments across Common Monetary Areas (CMAs),' says Strydom. 'This market-first collaboration is shaping the future of payments.'
As Tshegofatso Modisakeng, Forex Product Manager and Strategist, notes, the demand for fast, reliable solutions continues to grow, and RMB Private Bank remains committed to continuous optimisation.
This holiday season, you can rely on cutting-edge cross-border payment solutions to meet your global financial needs efficiently and securely.
