How Do I Add a Beneficiary to my Banking App?

If you’ve been to a bank in the past few years, you’ve probably heard the main selling point with regards to their internet banking – It’s Quicker! It’s Simpler! It’s Hassle-free! For the tech-literate youth of today, perhaps these points are all true, but for many of us, trying to navigate the brave new world of internet banking can often seem as streamlined as an elephant in a wind tunnel. On top of that, it can be just as difficult to find online guides to help you through the process in the first place. How Do I Add a Beneficiary to my Banking App?

This article will go to highlight how to add beneficiaries to the respective bank you are looking for. Scroll down to find your bank and then follow the step-by-step procedure in adding a beneficiary to your banking App. Please note the online banks referred to in this article are all South African banks.

You may even need to go to the bank in real life just to get things working (which sort of undermines the whole ‘online’ part). With all this in mind, let’s try to uncomplicate things as much as possible and put everything you need to know in one location.

 How Do I Add a Beneficiary to my Banking App?
How Do I Add a Beneficiary to my Banking App?

How to Add Beneficiaries

CapitecHow Do I Add a Beneficiary to my Banking App?

  • Log on to the Capitec Banking App.
  • A ‘Pay Beneficiary’ option may appear on the home screen if you have selected it as a favourite. If it does, click on this option.
  • If the option does not appear on your home screen, click the ‘Transact’ option and then choose ‘Pay Beneficiary’.
  • You should be presented with a list of your beneficiaries along with a ‘Add Beneficiary’ option. Click on this option.
  • At this point you can choose which type of account you wish to pay into, ie, a Capitec registered account, an account with a different bank, etc. 
  • Pick the correct option for the account in question.
  • Choose your beneficiary and fill in the required details such as their name and account number.
  • Verify the information and enter your remote pin. Once completed, click on the ‘confirm’ option.
  • At this point, the beneficiary should be loaded onto your account and you will be given the option to make a payment. 

If you’re having any problems, you can watch this helpful video for a detailed breakdown of the process alongside some helpful visual aids. 

ABSAHow Do I Add a Beneficiary to my Banking App?

For iOS devices –

  • Login to the ABSA banking app
  • Click on the ‘Pay New Beneficiary’ option 
  • Fill in the relevant information for the new beneficiary
  • Verify the information
  • You should now be able to pay your new beneficiary

For Android devices – 

  • Login to the ABSA banking app
  • Click on the ‘Pay New Beneficiary’ option
  • Fill in all relevant beneficiary information along with your reference and payment notification type
  • Verify the information
  • You should now be able to pay your new beneficiary

FNBHow Do I Add a Beneficiary to my Banking App?

  • Login to the FNB banking app
  • Click on the menu bar and select the ‘Pay’ option
  • Click on the ‘Pay Recipients’ option
  • Click on the + symbol next to the ‘Add Recipient’ option
  • Click the ‘Specify Account Details’ option
  • Click on the ‘Select Bank’ option and choose the correct bank
  • Fill in the relevant information for the new beneficiary
  • Fill out the necessary reference information
  • Click ‘Continue’
  • Verify that all the information is correct and click ‘Confirm’
  • You should now be able to pay your new beneficiary

Standard BankHow Do I Add a Beneficiary to my Banking App?

  • Login to the Standard Bank banking app
  • From the home screen, click the ‘Transact’ option
  • Click on the ‘Pay’ option
  • Click on the ‘Add a Beneficiary’ option
  • Click on the ‘A beneficiary’ option
  • Enter all the relevant information for your new beneficiary as well as the any references
  • Click the ‘Review’ option
  • Verify the information and click the ‘Confirm’ option
  • You should now be able to pay your new beneficiary

If you’re still having trouble, you can check out a detailed walkthrough here, alongside some visual aids. 

NedbankHow Do I Add a Beneficiary to my Banking App?

  • Login to the Nedbank banking app
  • Click on the ‘Recipient’ option
  • Click on the ‘Add Recipient’ button. This button may appear as an icon depicting a person and a + symbol.
  • Enter all the relevant information for your new beneficiary
  • Verify the information and select the ‘Add’ option
  • You should now be able to pay your new beneficiary

If you’re still having trouble, you can check out this helpful walkthrough video which features visual aids. 

Discovery BankHow Do I Add a Beneficiary to my Banking App?

  • Login to the Discovery Banking app
  • Click on the ‘Transact’ option
  • Click on the ‘Pay’ option
  • Click on the ‘Add a Beneficiary and Pay’ option
  • Enter all the relevant information for your beneficiary 
  • Click on the ‘Next’ option
  • Verify the information and then click on the ‘Add Beneficiary’ option
  • You should now be able to pay your new beneficiary
 How Do I Add a Beneficiary to my Banking App?
How Do I Add a Beneficiary to my Banking App?

Frequently Asked Questions 

Now that we’re more familiar with our banking apps, let’s look at some other important points that we may run into – 

Can Banking Apps be Hacked?
There are two main ways in which a hacker may infiltrate your bank account through your cell phone. Firstly, they can infect your cell phone with Trojan software which is normally downloaded onto your phone under the guise of an innocuous program such as a game or an app. Once downloaded, the virus may cause a fake banking app login page to appear when you go to do your online banking. You then fill in all your sensitive information and the hackers are able to access your account. This is one of the reasons why you should verify the validity of any downloads before you make them. 
Another method used by hackers involves creating an entirely fake banking app. Users download this app and enter in their information which is then used by the hackers to access their accounts. Once again, this shows the importance of verifying the origins of your downloads and apps before you use them.
What do I do if my Banking App has been Hacked?
If your banking app has been hacked, your first step should be to contact your bank and inform them of the situation. They can inform you as to the best course of action and they should also be able to freeze your accounts to prevent the loss of any more money. Sadly, this remedy also comes with certain risks as fraudsters may send you false contact information before posing as bank officials. Make sure you know who you are talking to and maybe even go to the bank itself to ensure that you are not being scammed further. 
Once you’ve spoken with bank officials, make sure that you report the matter to the police as it could help them to catch the fraudsters at some point down the line. Lastly, it is important to take these steps as soon as possible to avoid further losses. 
How do you Identify Scams?
Scams can come in all shapes and sizes so it’s important to always be on guard. That said, there are some red flags that you can look out for if you don’t want to be a victim – 
You are offered a large sum of money or incredible prizes out of the blue.
Your personal information and banking details are required to obtain these prizes.
The email or message comes from a suspicious or unofficial source
You are being rushed into action. Normally this is done by telling you that the prize is only available for the next few minutes and that you must act quickly if you wish to receive it. 
They require your PIN and banking details to solve some sort of problem.

In Conclusion – How do Banking Apps work and What Information do you Need to Know?

Each banking app is distinct in its own way and you’ll need to familiarise yourself with your specific version if you wish to become truly proficient. Luckily, most banks provide various online resources which can walk you through the basics and help you to get started. Many banks even upload detailed videos onto sites like Youtube which can provide you with visual cues as well.

 How Do I Add a Beneficiary to my Banking App?
How Do I Add a Beneficiary to my Banking App?

Beyond simply learning how to use your banking app, there are also some pitfalls that must be avoided. Certain hackers and fraudsters come up with ingenious methods for capturing your personal information and accessing your bank account. Always be on alert when you encounter suspicious messages and phone calls that ask for your PIN and other sensitive information that could be used against you. 

Another trick used by criminals involves the creation of malicious viruses and fake programs which can be downloaded and used to infect your cell phone or PC. Make sure that you verify the source and integrity of these programs before you install them onto your device to avoid accidentally uploading some sort of malware. 

If you do end up as a victim of fraudsters, it’s important to contact your bank and the police as soon as possible and inform them of both of the situations. Your bank may be able to assist you further and even freeze your accounts to prevent further losses. Just make sure that the bank’s contact information is correct as certain hackers will even post fake cell phone numbers and email addresses to steal your information while pretending to help you. 

Disclaimer Finance101: All of our posts are for research purposes only. Finance 101 aims to assist its readers with useful information on the laws of our country that can guide you to make financial decisions that will enable you to become more financially independent in the future. Although our posts cite the constitution in many instances, they are intended to assist readers who are looking to expand their knowledge of the law & finance-related queries. Should you require specific legal/financial advice we advise you to get in touch with a qualified financial expert.

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2 Responses

  1. January 24, 2022

    […] Paying beneficiaries – Once a beneficiary has been established, you should be able to quickly send them funds by simply selecting the ‘pay’ option and […]

  2. February 1, 2022

    […] you believe that your information has been compromised and that your funds are at risk, consider contacting your bank and informing them of the situation. They’ll be able to provide you with step-by-step instructions and may even freeze your account […]

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