Slight but uninspiring increase for the BETI in January it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.
SA banks are âforcedâ to charge more for instant payments â but their prices vary wildly May 10, 2021, 06:20 AM
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South Africa s five biggest banks
Immediate online payments cost significantly more than traditional EFTs, and they re growing increasingly popular in South Africa.
Banks argue that because these payments come at an increased risk, and can t be batch processed, they must cost more.
But quite how much more differs greatly between banks - in some cases by as much as 147%.
Here s how online real-time clearing fees differ between SA s largest banks.
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This article has been updated below.
South African banks say they have little choice but to charge extra for processing immediate electronic payments between clients of different banks. In a single year, banks process more than 49 million of these premium-rate transactions - but quite how much banks believe this extra computing power and risk
Mar 10, 2021
The lifting of lockdown restrictions in February 2021 gave the South African economy a much-needed boost after the dismal performance in January 2021, according to the latest BankservAfrica Economic Transaction Index (BETI).
“Economic transactions in February increased by 2.2% from January. This is the highest monthly increase since 2014 and 2012,” says Shergeran Naidoo, BankservAfrica’s head of stakeholder engagements. “This is a clear indication that the economy has performed better than expected when the restrictions were eased. It is also consistent with the BETI view that when this happens, there is greater certainty, more confidence and a growth in spending.”
The stronger month also showed improvements on an annual and quarterly basis.
During the post-trade time interval (“T+
x”) while the instructed trade is executed, cleared and settled, those market participants involved are subject to interim risk (both market and counter-party credit risk). Those interim risks are greater during periods of market stress and high volatility. To protect against those risks, participants in the process require their downstream counter-parties to post cash deposits (“margin”).
DTCC’s subsidiary, National Securities Clearing Corp. (“NSCC”) is an SEC-regulated entity that provides
“clearing, settlement, risk management, central counterparty services and a guarantee of completion for certain transactions for virtually all broker-to-broker trades involving equities, corporate and municipal debt, American depositary receipts, exchange-traded funds, and unit investment trusts.