How your bank protects you

Your savings are below threat from hackers.
  It sounds dramatic, but each and every day criminals from around the world are attempting to steal cash from bank clients. They develop new and sophisticated techniques to net up to a single billion dollars. It’s a race that our banks devote several millions of dollars to hold up with.

Internet Safety: Are you cyber-sensible?

What do our banks do to shield us?

• Banks spend millions on pc security.  It’s a required expense for them because they’re required to refund consumers who have been defrauded through no fault of their personal. According to the Australian Federal Police, if you have been a victim of identity crime and your card is nevertheless in your possession, you shouldn’t have to pay for anything purchased on it without having your permission (topic to the terms and circumstances of your account). If your card has been reported lost or stolen, you will normally not have to spend, unless it can be shown that you have acted fraudulently or without having affordable care (for example by maintaining your PIN quantity written down with your card). The identical applies to any income lost by means of fraudulent bank transactions.

• Banks use Safe Socket Layer (SSL) encryption, which provides an added layer of protection when you sign into online services or do anything else in which your private info could be intercepted.

• Password safety: Banks will frequently insist that passwords have a minimum length, use both reduce and uppercase letters and have a quantity in them.

• Your data is encrypted.  That signifies all information leaving your laptop and going to the bank is scrambled.  Encrypted bank sites have some type of closed lock symbol on them at one particular corner.  The internet address will also commence with https://.  The “s” stands for secured. It’s a very good notion to check for this “s” this every single time you log on since “man in the browser” attacks can redirect users unknowingly to a fake website beginning with http://.

• You are locked out of on the internet banking if you get your password incorrect a lot more than a handful of occasions. You will also be subject to timed logoff if you walk away from your personal computer without logging off from on the web banking you’ll be logged out following a certain quantity of inactivity.

• Banks use firewalls so that only authorised customers can get in.

• Some banks use 2-issue identification. As properly as possessing to input your user name and password you have to answer concerns that only you need to know the answer to. Some banks require you to use a digipass, which is a little device that generates a exclusive code every time you log in. Without the digipass you can not get in.

• The bank can recognise your device. The bank’s systems know exactly where you are logging in from. If your account is logged into from an unusual location this can send alarm bells ringing at the bank.

Passwords: put more work into it

Financial institutions can not constantly maintain ahead of the fraudsters and if you have been sensible about looking right after passwords and banking safety in basic you’ll possibly be reimbursed. You can complain to the Banking Ombudsman if you are not reimbursed and your case will be heard by an independent adjudicator.

Lastly, Internet banking is a wonderful tool.  Just take care when you’re utilizing it.

Related Articles:

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How your bank protects you

Standard Bank People’s Wheels Awards Winner Announcement

The People Have Spoken

The Future Group, in association with Standard Bank Vehicle and Asset Finance, research house TNS Global and media partner Sunday Times, this morning proudly presented the 4th annual Standard Bank People’s Wheels Awards at the Montecasino Ballroom in 4ways.

The resounding voice of more than 60 000 votes determined which vehicles in 22 categories were considered to be the best by South Africa’s motoring public. Also revealed was an overall winner – the model which recorded the most votes of all to earn the title, People’s Choice – plus the country’s preferred fuel and replacement tyre brands.

Additionally, a nationwide survey of vehicle owners – which drew its biggest ever response – determined which automotive brands were deemed to deliver the highest levels of satisfaction. The results were announced by the master of ceremonies – comedian Nik Rabinowitz – to an audience of automotive leaders, associated service providers and car enthusiasts.

“Thank you to everyone that participated in the 4th series of the Standard Bank People’s Wheels Awards. This is an event in which all motorists can be heard and where every vote counts,” said Nicholas Nkosi, Head of Vehicle and Asset Finance, Personal Markets, at Standard Bank.

He said voters could choose to be pragmatic and decide their choice on the basis of economic factors that had impacted the industry, selecting vehicles they believed helped to reduce operating and maintenance costs. “Alternatively, they may decide that their vehicles of choice should be aspirational cars with names no-one can pronounce,” he added.

“The competition gives car enthusiasts and those looking to decide on what car to purchase a broad overview of our dynamic market. As sponsors of this competition we will continue to share our passion for the industry with all our corporate and individual customers. Moreover, we we will always be on hand to finance vehicles and to help people’s motoring dreams come true,” he adds.

The People’s Choice – the vehicle which obtained the most votes of all in the People’s Wheels poll – was Ford’s Ranger Double-Cab. The leisure-styled bakkie – no stranger to accolades at the awards having taken victory last year in its category – made history this time around by becoming the first light commercial vehicle to win overall honours.

In terms of the greatest volume of wins, German manufacturer Mercedes-Benz dominated the top step of the podium by winning 8 categories – one more than last year. Volkswagen twice topped the category rankings, while BMW and Porsche scored one win each, bringing Germany’s tally of gold medals to 12. Land Rover, Toyota and Ford took 2 wins apiece, followed by Lamborghini, Aston Martin, Jaguar and Kia with one each.

Germany scored another category victory when tyre-maker Continental again topped the motoring public’s list of preferred tyre replacement brands while, in the preferred fuel brand category, reigning champion Engen took first prize.

Another winner was motorist David Millard of Cape Town, who was delighted to receive a cheque for R25 000 following a lucky draw involving all those who took part in the People’s Wheels vote or in the ownership survey.

As far as the latter project was concerned, a record number of responses saw Korean brand Kia – which last year finished third in the rankings – emerge victorious, supplanting Mercedes-Benz at the top of the honours list with Audi filling the final step on the podium.

The results of the survey present crucial insight for marketers and offer relevant and useful information to consumers regarding ownership perceptions of vehicle brands, as well as reliability, durability and loyalty factors.

Richard Rice, Director of Business Development at TNS Global said: “For motorists, the highest rated attributes were reliability, driving experience, looks and styling and build quality. Noise and vibration, ownership costs, cargo capacity and after sales service received the poorest scores – similar to previous years.

“After sales service, noise and vibration and standard features were singled out as factors performing well below where they should be given their relative positioning in terms of importance.”

He added: “The importance of age as a key influence in vehicle purchasing and maintenance behaviour cannot be emphasised enough. Also, again, the large role that others play in the purchase decision was highlighted, not only in terms of getting input from a friend, partner or spouse, but also people who drive a brand and advocate its merits.”

Full details of the People’s Wheels Awards are contained in the 2015 edition of the Auto Annual, which was launched at the event. The 288-page coffee-table book not only offers extensive reports on all aspects of the People’s Wheels project, but also presents an authoritative overview of South Africa’s automotive industry.

Further, the publication includes depreciation values of more than 1 600 vehicles which were sold new in South Africa in 2012, as well as a comprehensive buyers’ guide that encompasses all passenger and light commercial vehicles currently in showrooms.

Editor Wynter Murdoch said the aim of the Auto Annual was to highlight some of the rewards, issues and challenges that had influenced South Africa’s automotive industry over the year, putting into focus manufacturing, marketing and consumer related information of relevance to the passenger car and commercial vehicle segments.

WINNERS

CATEGORY 1 Budget Buys VOLKSWAGEN Polo Vivo KIA Picanto FORD Figo	CATEGORY 2 Compact Commuters KIA Rio AUDI A1/A1 Sportback VOLKSWAGEN Polo	CATEGORY 3 Compact Executive Cars MERCEDES-BENZ A-Class /CLA AUDI A3/Sedan/Sportback BMW 1-Series
CATEGORY 4 Family Friendly Cars MERCEDES-BENZ C-Class BMW 3-Series AUDI A4	CATEGORY 5 Mid-Sized Executive Cars MERCEDES-BENZ E-Class JAGUAR XF BMW 5-Series	CATEGORY 6 Premium Luxury Cars MERCEDES-BENZ S-Class JAGUAR XJ PORSCHE Panamera
CATEGORY 7 Super Luxury Cars ASTON MARTIN Rapide FERRARI F12 Berlinetta ROLLS ROYCE Ghost	CATEGORY 8 Sporty Drop Tops JAGUAR F-Type MERCEDES-BENZ SLK PORSCHE Boxster	CATEGORY 9 Super Sports Cars LAMBORGHINI Aventador AUDI R8 NISSAN GT-R
CATEGORY 10 Sport Coupés: 2-Door Hard Tops BMW 2-Series AUDI TT Coupé KIA Cerato Koup	CATEGORY 11 Premium Class Coupés PORSCHE Cayman AUDI A5 Coupe BMW 6-Series	CATEGORY 12 Hot Hatches/Sedans/Coupés MERCEDES-BENZ A45/CLA 45 AMG VOLKSWAGEN Golf GTI AUDI S3
CATEGORY 13 Compact Mpvs & People Carriers VOLKSWAGEN Touran MERCEDES-BENZ B-Class TOYOTA Verso ;	CATEGORY 14 Large MPVs & People Carriers MERCEDES-BENZ Viano VOLKSWAGEN Kombi HYUNDAI H-1	CATEGORY 15 Small SUVs & Crossovers FORD Ecosport NISSAN Qashqai JEEP Compass ;
CATEGORY 16 Compact SUVs & Crossovers TOYOTA Fortuner KIA Sportage MERCEDES-BENZ GLA	CATEGORY 17 Premium Class SUVs & Crossovers LAND ROVER Range Rover Evoque AUDI Q5 PORSCHE Macan	CATEGORY 18 Luxury SUVs & Crossovers LAND ROVER Range Rover Sport PORSCHE Cayenne BMW X6
CATEGORY 19 Hybrids/Electrics 1. MERCEDES-BENZ E-Class Hybrid 2. PORSCHE Cayenne Hybrid 3. PORSCHE Panamera Hybrid	CATEGORY 20 Light Delivery Vehicles 1. MERCEDES-BENZ Vito Panel Van 2. HYUNDAI H-1 Panel Van 3. VOLKSWAGEN Caddy Panel Van	CATEGORY 21 Single Cab Bakkies 1. TOYOTA Hilux 2. FORD Ranger 3. NISSAN Navara
CATEGORY 22 Double Cab Bakkies 1. FORD Ranger 2. VOLKSWAGEN Amarok 3. TOYOTA Hilux	OWNERSHIP SURVEY KIA MERCEDES-BENZ AUDI	OVERALL WINNER: PEOPLE’S CHOICE FORD Ranger Double Cab

Standard Bank People’s Wheels Awards Winner Announcement

How usually need to you assessment your bank accounts?

This was a recent question on my News Corp Gen Y column: how frequently must you review your bank accounts? The answer is that you ought to review them each year, to take advantage of offers on provide.

That may possibly look fairly typically, especially if we’re speaking about transaction accounts, but the fact is that in spite of our at the moment-low interest price, bank accounts are surprisingly competitive. Economic institutions know that your transaction and savings accounts are 2 of the easiest financial items to switch – surely a lot less complicated than switching your residence or private loans, or insurances. Some institutions go all out to win your “easy” enterprise in the hope that you will then turn into a client for life.

Prior to you go out and get a new account although, it is essential to comprehend how you use your current one. Do you want branch access? Do you frequently use ATM machines? Is every little thing accomplished on the internet? How significantly do you preserve in your account at any a single time, and how a lot of transactions do you make each and every month? When you have worked all that out, you’ll know what you need to have from an account.

Some things to appear for consist of:

• No/low monthly costs. There are plenty of charge-cost-free banks accounts out there – presently on our database there are 16 transaction accounts on its database that have no monthly account-keeping charges or charges for electronic transactions.


• Access to a lot of free of charge ATMs. Naturally the ‘Big 4’ banks have ATMs galore, but so do several of the smaller sized institutions by means of agreements with other banks as well as third-celebration ATM providers. ATM costs can be far more than $ 2 a pop, so free access is essential.


• A very good interest rate. Interest isn’t critical on a transaction account, but it undoubtedly is on a savings account and despite our currently-low official money price, there’s far more than a a single % difference in between the highest and lowest interest rates on supply across most term deposits and at-call savings accounts.


• Other bonuses. There are often discounts and rewards points on supply as nicely. As an example,  the Bankwest Rewards Transaction account offers rewards points on both the balance held and on spending, and the ING DIRECT Orange Every day account gives 2% cash back on Visa payWave purchases under $ 25 in Australia (each subject to situations).

Make it a yearly habit to assessment your accounts – you could shocked by how a lot you could save.

How usually need to you assessment your bank accounts?

Comments on NAAMSA New Vehicle Sales Report – July 2014 – Standard Bank

 “The National Union of Metalworkers of South Africa (Numsa) strikehas had little effect on vehicle sales for July, this is because most of the manufacturers would have factored it in. However, it will still impact on the stock reserves going forward. The manufacturers would still have to catch up on lost production to make up for both the local and the export market. The good news is that the strike was not prolonged. Therefore the has been little impact on the July vehicle sales figures.”

 

General Comments on July 2014 NAAMSA sales:

• The month of July 2014 experienced a 9.2% increase in sales compared to June 2014.


• Month on Month only Passenger (12.9%) and Light Commercial Vehicles (3.69%) experienced positive growth.


• Year on Year monthly comparison shows a decrease of -1.5% in July 2014 compared to July 2013. The average sales per day in July 2014 were less than July 2013 (2,136 vs 2,169 with the same number of business days (27) in both months).


• Year to date (January – July 2014) comparisons shows that vehicle sales are down by -4.7% in the first 7 months of the year when compared to last year.


• Month on month Exports decreased in July (-3.1%) with Passenger vehicles declining by -8.0% and Light Commercial Vehicles growing by 4.9%.


• Year on year monthly comparison shows a decline in exports of -16.1% in July 2014 compared to July 2013.


• AMH & AAD saw an increase in July 2014, 40.2% month on month.

General Comments on July 2014 Standard Bank VAF Personal Applications:

• In July 2014 applications for new vehicles experienced negative month on month growth of -10.2% while applications for used vehicles had positive month on month growth of 3.6%.


• Year on year monthly comparison on applications shows a decline in both new (-28.9%) and used (-6.9%) vehicle market applications in July 2014 compared to July 2013.


• Approval rate in the new vehicle market increased by 0.3% month on month while approval rate in the used market decreased by -5.1% month on month.


• Applications in both Passenger Vehicles (-0.9%) and Light Commercial Vehicles (-13.2%) in the Personal market had negative month on month growth in July 2014.


•  Year on year monthly comparison shows negative growth for both Passenger Vehicles (-15.8%) and Light Commercial Vehicles (-22.2%) in July 2014.


• The proportion of applications with RV’s increased to 18.7% in July 2014 from 17.0% in June 2014 (1.7% month on month increase).


• The proportion of applications with deposits decreased to 34.1% in July 2014 from 35.8% in June 2014 (-1.7% month on month increase).


• The Average Contract Term on applications increased from 66.6 months to 67.5 months (July 2013 to July 2014).


• The average application size increased from R188 284 in July 2013 to R207 064 in July 2014, a 10.0% year on year increase.

General Comments on July 2014 Standard Bank VAF Personal New Business:

• In July 2014 Personal new business experienced positive month on month growth in both new (5.4%) and used (14.9) vehicle markets.


• Personal new business year on year comparisons shows a decline in both new (-46.9%) and used (-48.5%) vehicle markets in July 2014 compared to July 2013.


• Passenger vehicles had positive month on month growth of 11.9% while Light Commercial had negative growth of -8.4%.


•  Personal new business year on year monthly comparison shows a decline for both Passenger Vehicles (-46.5%) and Light Commercial Vehicles (-48.0%) in July 2014 compared to July 2013.


• The proportion of new business deals with deposits increased to 43.3% in July 2014 from 42.7% in June 2014 (0.6% month on month increase and 1.8% year on year increase).


• The proportion of new business deals with RV’s increased to 23.9% in July 2014 from 22.8% in June 2014 (1.2% month on month increase and 9.0% year on year increase).


• The Average Contract Term stayed the same at 65.8 months (July 2013 to July 2014).


• The average deal size increased from R241 116 in July 2013 to R289 423 in July 2014, a 14.9% year on year increase.

General Comments on Standard Bank Personal VAF Book:

• Personal Market book shows new vehicle market increased from 55.7% in July 2013 to 57.3% in July 2014, while used vehicle market decreased from 44% in July 2013 to 43% in July 2014.


• Passenger Vehicles stayed the same at 89% between July 2013 and July 2014 while Light Commercial Vehicles declined from 11% in July 2013 to 10% in July 2014.

General Macro and Industry Comments:

• The country’s Q1:14 Gross Domestic Product slowed to 1.6%  y/y from 2.0% in Q4:13 and from 3.8% q/q in Q4:13 to 0.6% q/q in Q1:14. Standard Bank Research has revised its GDP forecast for 2014 to 2.0% down from 2.1%.


• Q2:14 Unemployment rises to 25.2%, Standard Bank research expect unemployment to rise over the next 18 months as capacity remains under-utilised, interest rates rise and strikes persist.


• The MPC hiked the repo rate by 25 bps in their July Statement. Standard Bank research predicted this outcome, arguing that the SARB would take rates up by 25 bps premised largely on concerns that Bank might have regarding their perceived credibility and effectiveness at anchoring inflation expectations.


• Headline annual inflation rate (CPI) in June 2014 was 6,6%.  This rate was the same as the corresponding annual rate of 6,6% in May 2014.  On average, prices increased by 0.3% between May 2014 and June 2014. Transport index decreased by 0.1% between May 2014 and June 2014, this was mainly due to a 22c per litre decrease in petrol price. The annual rate decreased to 8.6% in June 2014 from 8,9% in May 2014, According to Standard Bank Research inflation forecast, we expect that inflation has already peaked in Q2 at 6.5% y/y.


• Fuel prices have risen by 5.4% in petrol (inland) and risen by 0.2% in Diesel (inland) since Jan 2012 to July 2014. Fuel prices have risen by 83.6% in petrol (inland) and risen by 87.1% in diesel (inland) since Jan 2010 to July 2014. Further, the price of fuel in the country has gone up by 289% in petrol and up by 413.3% in diesel since Jan 2001. Petrol price will increased by 29c per litre and diesel increased by 14c per litre on 2nd July.


• All of these factors are expected to hinder vehicle sales growth.

Fuel Types

• In the month of June 2014, both Petrol (7.5%) and Diesel (5.3%) vehicle sales had positive month on month growth.


• Year on Year June 2014 versus June 2013 Petrol vehicles declined by -7.1% and Diesel vehicles grew by 7.5%.


• Year on Year YTD comparison for 2014 shows that Petrol vehicle sales declined by -7.7% while Diesel vehicle sales declined by -0.6%.

NAAMSA Seasonality and Average Selling Days:

• The average number of sales for July since 2010 has been 50,670 and the average number of sales for July since 2012 has been 57,034.


• On average July has ranked the 2nd best performing month in the year.


• July 2014 had 27 selling days, with an average of 2,136 sales per day.


• July 2013 had 27 selling days as well, with an average of 2,169 sales per day and was ranked the best performing month last year.


• July 2014 has ranked 9th best performing out of the 91 months since January 2007.

Also view:

Vehicle Finance, Car Insurance and Road Safety

Buying and Selling a Vehicle – Informed decisions and the Vehicle Retailer

 

Comments on NAAMSA New Vehicle Sales Report – July 2014 – Standard Bank