SAQA 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.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD THAT HAS PASSED THE END DATE: 

Handle rejected money transfers in a banking environment 
SAQA US ID UNIT STANDARD TITLE
7109  Handle rejected money transfers in a banking environment 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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
Passed the End Date -
Status was "Reregistered" 
2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
114746  Handle rejected money transfers in a banking environment  Level 3  NQF Level 03  Complete 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard will be able to establish the nature of
and reason for rejected money transfers and then to expunge the rejected transfer entries. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Open 

UNIT STANDARD RANGE 
Inward or outward money transfers. 

UNIT STANDARD OUTCOME HEADER 
Establish nature of the rejected money transfer 

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

ASSESSMENT CRITERION 2 
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. 
OUTCOME NOTES 
2.1 The prime voucher is obtained and matched with the account numbers on the report to identify
possible capture errors.

2.2 Should there not be capture errors, other reasons for the rejected money transfers are established.

2.3 Where fraudulent transactions are identified, they are referred to the relevant department as
required by the bank. 
OUTCOME RANGE 
Unit Standard Title: inward or outward money transfers.

Assessment Criteria 2.2: Including but not limited to 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.

Assessment Criteria 3.2: Including but not limited to reason for rejection, action to rectify the matter. 

ASSESSMENT CRITERIA
 

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

ASSESSMENT CRITERION 2 
2. Should there not be capture errors, other reasons for the rejected money transfers are established. 
ASSESSMENT CRITERION RANGE 
Including but not limited to 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.
 

ASSESSMENT CRITERION 3 
3. Where fraudulent transactions are identified, they are referred to the relevant department as required by the bank. 

SPECIFIC OUTCOME 3 
Expunge the rejected transfer entries. 

ASSESSMENT CRITERIA
 

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

ASSESSMENT CRITERION 2 
2. The original documentation is annotated according to the bank's procedures. 
ASSESSMENT CRITERION RANGE 
Including but not limited to reason for rejection, action to rectify the matter.
 


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.

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.

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. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • an understanding of all relevant banking policies and procedures.
  • an understanding of the workflow.
  • operating and computer systems knowledge sufficient to locate
  • the necessary information and complete the task.
  • an understanding of operational risk.
  • relevant security precautions. 


  • Critical Cross-field Outcomes (CCFO): 

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

    UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 114746, which is "Handle rejected money transfers in a banking environment", 3 credits, NQF Level 3, as from 11 Aug 2004.

    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.