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SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Handle rejected money transfers in a banking environment 
SAQA US ID UNIT STANDARD TITLE
114746  Handle rejected money transfers in a banking environment 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 3  NQF Level 03 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
7109  Handle rejected money transfers in a banking environment  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is intended for people entrusted with the task of handling rejected money transfers.

Persons credited with this Unit Standard will be able to:
  • Establish the nature of the rejected money transfers
  • Establish the reason for rejected money transfers
  • Expunge the rejected transfer entries. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners accessing this Unit Standard will be competent in Communications at NQF Level 2. 

    UNIT STANDARD RANGE 
  • Money transfers may be inbound or outbound.
  • Other reasons for rejected money transfers are invalid destination identification, invalid, closed or unopened account number, generalised deposit account, domestic account, no account number, out of range account number, pay on application and ID message, urgent agent bank money transfer messages.
  • Original documentation is annotated according to reason for rejection, action to rectify the matter. 

  • Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Establish the nature of the rejected money transfers appearing on the report(s). 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The relevant daily report(s) is/are scrutinised to establish the occurrence of any rejected money transfers in the manner required by the bank. 

    ASSESSMENT CRITERION 2 
    The nature of the rejected money transfer is identified according to the bank's guidelines. 

    SPECIFIC OUTCOME 2 
    Establish the reason for the rejection. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The prime voucher is obtained and matched with the account numbers on the report to identify possible capture errors. 

    ASSESSMENT CRITERION 2 
    Other reasons for the rejected money transfers are established should the rejection not be due to capture errors. 

    ASSESSMENT CRITERION 3 
    Fraudulent transactions are referred to the relevant department as required by the bank. 

    SPECIFIC OUTCOME 3 
    Expunge the rejected transfer entries. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    Rejected transfer entries are expunged according to the bank's procedures. 

    ASSESSMENT CRITERION 2 
    The original documentation is annotated according to the bank's procedures. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
    1. Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    2. Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA, or with an ETQA that has a Memorandum of Understanding with the relevant ETQA.

    3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

    Therefore anyone wishing to be assessed against this Unit Standard may apply to be assessed by any assessment agency, assessor or provider institution, which is accredited by the relevant ETQA or by an ETQA that has a Memorandum of Understanding with the relevant ETQA. 

    UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • All relevant banking policies and procedures.
  • Workflow.
  • Operating and computer systems to locate the necessary information and complete the task.
  • Operational risk.
  • Relevant security precautions. 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    Identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when the nature of the rejected money transfer is identified according to the bank's guidelines. 

    UNIT STANDARD CCFO ORGANISING 
    Organise and manage oneself and one's activities responsibly and effectively when rejected transfer entries are expunged according to the bank's procedures. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information when, should there not be capture errors, other reasons for the rejected money transfers are established. 

    UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    As from date of registration of this unit standard, it replaces unit standard 7109 which was "Handle rejected money transfers in a banking environment", 3 credits, NQF Level 3.

    Legal Requirements:
    All procedures must meet recognised codes of practice as well as obligations required under current legislation within South Africa and within the normal parameters of the defined job/task.

    Terminology:
    ID - legal identity document 

    QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20184   National Certificate: Banking  Level 3  NQF Level 03  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    NONE 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.