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IOLProperty - South African Property For Sale
Friday Nov 09, 2012

AA45 ... two letters, two figures that could save Joburg a fortune

AA45 - this is the crucial number that City of Joburg customers paying their accounts must remember in future.

The council has switched banks from Absa to Standard Bank, which has resulted in some confusion for customers - but they have three months to get used to it.

The City of Joburg's account details have been "masked" by this new number, called the customer identify number (CIN), to prevent fraud, according to council revenue spokesman Stan Maphologela.

In future, when making a payment, the beneficiary must be listed as AA45 and the customer must use their account number as the reference number.

Customers who choose to go into the bank to make their deposit directly into the council's Standard Bank account will see the CIN number AA45 as the beneficiary.

In the case of ATM payment and phone banking, customers will have to make arrangements with their bank to link the City of Joburg as a pre-approved beneficiary.

This will enable them to have access to their ATM and phone banking services.

The beneficiary reference will be AA45 and again your account number will be required as your reference number.

Customers making electronic payments will have to delete any current beneficiary details they have linked on internet banking for the council.

Only the preloaded City of Joburg company beneficiary details supplied by the customer's internet banking system should be used.

Again the beneficiary reference will be AA45 for the bill being paid.

Customers have been given time to make this change and get used to the new payment method.

AFor the next three months, until the end of January, payments made in error to Absa will automatically be transferred to Standard Bank. There will be no charges for this. Customers who continue to pay into the Absa account after February 1 will risk having their services cut because their payments will be diverted into a suspense account and not reflected as a deposit on their City of Joburg invoice.

These changes come after Standard Bank's nomination as the council's new banker.

The bank beat four others to win the contract, in line with the Municipal Finance Management Act.

The council used the services of one of the big four audit and consultancy firms to ensure that the tender process was transparent and fair to all participants. "This signifies the beginning of a new partnership with Standard Bank," said city manager Trevor Fowler.

"We believe the partnership with Standard Bank will support the City of Joburg as it rolls out the GDS 2040 Strategy through commitments undertaken during the bidding presentation on numerous aspects which are in line with socio-economic transformation and the strategic objectives of the organisation."

The bank would also partner with the council on various socioeconomic transformation initiatives, which could only auger well for the city as a whole, he said.

Head of Standard Bank's global transactional products and services Neil Surgey said Standard Bank had been an integral part of Joburg for 126 years.

"Our head office is in downtown Johannesburg where we employ about 10 500 permanent staff. In addition, we make a major contribution to Johannesburg's fiscus in terms of revenue and taxes.

"Johannesburg is an exciting, vibrant and dynamic city and we are proud to be part of it," he said.

The Star

 
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