Absa is now allowing customers to transact with it through online social media platform, Twitter. Through ChatBanking, you can conduct your day-to-day banking from your Twitter account, without interrupting your session on the social media website.
Absa, which claims that ChatBanking is the first initiative of its kind in Africa, said this is a secure, private and convenient service launched on Twitter and will eventually be rolled out to other social media platforms.
Absa said it made the changes because ‘customer behaviour require that banking has to be available anytime, anywhere, and accessible through multiple channels’. Here we ask Absa a few questions about Chatbanking:
Why has Absa chosen Twitter out of all the social media platforms. Will it consider Facebook or others next?
Twitter is the first of many Social Media platforms on which ChatBanking will be released. It was chosen due to the nature of the platform and wide range of people that engage with the service in South Africa.
A recent study by global research firm Nielsen showed that Twitter, most often accessed “on the move” and “in the moment”, is an everyday activity for most South Africans.
The study found that 61% of local users visit Twitter at least two to five times daily, with the average time spent on social media channels at around two hours and 43 minutes per day.
What are the charges associated with each of the transactions listed below? Are they cheaper or more expensive than transacting directly over the counter? Also are they cheaper than transacting with the use of an ATM?
There are no subscription charges for the service, and the charges are the same as all other digital channels. As with all digital channels it is both easier, more convenient and cheaper for customers to complete their transactions digitally.
Balance enquiries and mini-statements are free, and for accounts such as our MegaU Youth account, airtime and data purchases also do not incur any additional fees.
Is this available for all Absa accounts?
Currently this service is open to all transactional and transactional savings accounts, additional account types will be added in the near future.
What has Absa done to ensure that hackers can’t access someone’s Twitter account and fraudulently transact through it?
All engagements on Twitter with Absa’s ChatBanking service happen via private, direct messages. No part of a customers account number or banking details are shared publically. In addition, airtime and data purchases can only be made for the cellphone number registered to your online banking profile.
To access the service customers must first register via the Express tab in Absa Online and this registration requires the customer to logon as they normally would with multiple layers of authentication including SureCheck messages sent to their phone to authenticate their registration request further. We urge customers to never divulge their PIN and password to anyone.
How many bankers have transacted using Twitter since launch of this facility?
The number of customers registering for the service is growing on a daily basis as users become more familiar with the service. We are receiving valuable feedback from our customers and are focused on continuously improving the service based on their feedback.
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