GIVING INFO | Charis Ministries

EFT: Electronic Funds Transfer

What is electronic funds transfer?

An electronic funds transfer moves money from one account to another electronically over a computerized network. EFTs require both the sender and recipient to have bank accounts. The accounts do not have to be at the same financial institution to transfer funds. Both individuals and businesses can make EFT payments over the computer, using card readers, or over phones.

EFTs debit (increase) one person’s account and credit (decrease) the other person’s account.

EFT transactions are also known as electronic banking. Everything is paperless, so there isn’t a need for cash or paper checks.

The Electronic Fund Transfer Act (EFTA) regulates electronic funds transfers. The EFTA is a federal law that protects individuals who make EFT payments. For example, the EFTA requires financial institutions to provide consumers with a summary of rights and notifications of unauthorized transactions.

Charis Ministries Banking Details

Bank: First National Bank

Account Holder: Charis Ministries

Account #: 62624717685

Branch Name: Belfast

Branch Code: 250655

EFT Point

Mobile Giving

CashSend/E-Wallet

There are plenty of ways to send money to someone without a bank account, each with different levels of speed, security and convenience. Here are some of the best options:

FNB Users

Dial *120*321#
Select 'Send Money'
Select 'eWallet'
Select the account you want to send money from
Key in the cellphone number you want to send to
Enter the amount you want to send
Select 'Yes' to send an SMS with an ATM PIN to the recipient for easy withdrawal
Confirm the amount and cellphone number

To send money using FNB Cellphone Banking you need to be registered for Cellphone Banking.

To register for Cellphone Banking
Dial *120*321# , visit any FNB branch or ATM or call the Cellphone Banking helpline on 087 575 9405

This service excludes Windows 7.5 - 8 operated phones.

Capitec Users

Tap Transact
Tap Send cash and enter your Remote PIN
Tap the button to send cash
Choose "From" account
Enter the amount you want to send
Create a 4-digit secret code (this will be used to collect the cash )
Tap Next
Read the terms and conditions, tick the boxes and tap Accept
Tap Yes to confirm the transaction
You'll receive an SMS with the reference number – send it to the recipient
Send the secret code to the recipient in a separate message
Note: You will need to have access to Capitec banking App in order to send cash

How to send cash using USSD

Dial *120*3279# and reply 9
Accept the terms and conditions
Reply 1
Choose "From" account
Enter the amount you want to send
Create a 4-digit secret code (this will be used to collect the cash)
Enter your Mobile Banking PIN

Note: You will need to be registered for Mobile Banking in order to send cash.

Absa Users

Dial *120*2272#, and enter your 5-digit PIN
Select 5 to proceed
Tap Send
Select 2 to send to a new beneficiary
Tap Send
Enter the recipient’s cellphone number
Tap Send
Enter the recipient’s name
Tap Send
Select the account you wish to debit
Tap Send
Enter the amount you wish to send
Tap Send
Enter the 6-digit code that the recipient will use to get the fund from an Absa ATM
Tap Send
Confirm the transaction by selecting 1
Tap Send
Send the access code and amount of money sent to the recipient

Cashsend/E-Wallet Point

Whatsapp Giving

WhatsApp Pay was in beta testing for a long time. Finally, the Facebook-owned messaging app, WhatsApp, has added new icons on the app for its users. WhatsApp Pay button lets users send and receive money on the messaging app. Now, you will not have to download a separate app to send money if you have already added your card details on WhatsApp.

As per WABetaInfo, “WhatsApp is introducing a new shortcut to quickly send payments. Previously you had to open the chat action sheet in order to send payments, WhatsApp is now placing a dedicated button on the chat bar.”

According to the reports, the feature is currently available only for Indian users. However, it is still under development for iOS and will be made available for these users later.

Interestingly, the payments button is located right next to the attachments button in the text box in chats.

Steps to register for WhatsApp Pay

Step 1: Open WhatsApp on your device. Then, click on the three vertical dots menu given at the top-right corner of the screen.

Step 2: Click on the option ‘Payments’.

Step 3: Click on the ‘Add payment method’ option.

Step 4: Now, select the bank in which you’re registered or where you’ve your account. After this, WhatsApp will verify your phone number. It will also display your selected bank account.

Step 5: Next, tap on your bank account. Then, click on ‘Done’.

After completing the process, you’ll be able to see your UPI ID, your payment history and linked bank accounts.

Point to note: If you are an Android beta tester, you must download and install the latest version of WhatsApp beta for Android 2.21.17 to get the feature on your device.

Here’s how you can send money via WhatsApp Pay?

Step 1: Open WhatsApp on your device. Then, open the chat of the contact to whom you wish to send money.

Step 2: Click on the attachment button located near the chatbox.

Step 3: Now, click on the ‘Payments’ option.

Step 4: Next, enter the required amount you wish to send. You can also add a note for the amount entered.

Step 5: Now, click on the ‘Send’ button.

Step 6: Lastly, enter your UPI PIN to approve and confirm the payment. You’ll see a tick on your screen once the payment is successful.

Points to note:

You can send money only to those contacts that have registered for WhatsApp Payments.
If you try to send money to a contact that has not enabled the service, you will receive an option to notify the user to enable payments to receive money.

Whatsapp Giving Point

Dynamic QR code:

Dynamic QR code offers a better payment experience. It is editable and comes with extra features like password protection, scan analysis, etc.

A merchant can find out various details like how many people scanned the code or what type of devices were used for scanning, etc. dynamic QR code conveys the purchase amount and merchant information.

In this case, the customer just has to accept the transaction through the QR code application.

How does QR code payments works?

As mentioned before, QR codes are proving to be one of the best online payment acceptance solutions for merchants. Customers just have to scan the code using a smartphone camera. These codes can be scanned from the display screen or from paper.

QR code payments can be done in the following ways:

Using a smartphone for scanning the code displayed at church, website, etc. and make online payment.

You can just scan the QR Code, provided by the merchant, using your smartphone (your phone must have a camera). Usually you would be using an app which allows you to scan the QR code and proceed with the payment.

In the case of POS– the fixed amount is displayed on the retailer’s POS system at checkout.
Both customers and merchants use apps for online transactions. Merchant generates QR code via a mobile app. The customer scans the code via his/her app and on confirming the amount proceeds to the transaction.

The merchant generates both the invoice of a particular amount and the QR code. He then displays the QR code on the screen of the smartphone.

Benefits of using QR code payments On the spot payments:

Not only QR codes facilitate instant payment, but online payment can also be extremely quick compared to other methods. A customer just has to open the QR code application to scan the code and pay.

After confirming the payment processing, payment is done within a few seconds.

Secured online payment:

Using QR codes for online payment is very secure. As QR code is nothing but just a tool that is used to exchange information, data that is transferred via QR codes is encrypted. QR code payment solutions minimize data loss and security breaches.

Easy to set up:

Setting up QR code payments is extremely easy. There is no need for any additional overhead cost or infrastructure to set up a QR code. QR code can be simply printed on the paper and can be used for scanning and payment.

You don’t need much of an infrastructure.

Extremely reliable solution:

QR code payments are a foolproof payment method as it eliminates the probability of any kind of error. The pattern of black boxes consists of unique data which enhances the reliability of the QR code payments.

Dynamic QR code

QR Code Point