What is Internet Banking?
Internet Banking (IB) is a web-based service that provides MCB Customers with an easy and safe way to do your banking 24/7. It offers a wide range of facilities such as:viewing of account balance, undertaking financial transactions, mobile refill etc.
How much does it cost?
- MCB IB facility is free of charge for our individual customers.
- Corporate customers (companies) pay MUR 100/month. Please see our website for charges (www.mcb.mu).
- Transactions done through IB may bear bank charges.
What does Transaction Password mean?
Password to confirm your financial transfers (for those without the security token*)
What does Security Token mean?
The Security Token is a device which provides additional security when performing transfers as it generates a one-time code for each transaction done.
What should I do if I forget my User Id, Login Password & Transaction Password?
- User Id: you may call at your nearest branch with your identity card to recall your User Id. or fill in the IB amendment form and the User Id. will be either sent to you by post or by email.
- Login & Transaction Passwords: you must fill in the IB amendment form and your passwords will be sent to you by post at one of your addresses registered at the Bank
What is the Dashboard?
Dashboard provides the following information:
- The number of transfers saved as drafts/templates (View Drafts/Templates)
- The number of transfers initiated but not yet authorised (Transaction To Authorise)- for Corporate only
- Transactions initiated need to be authorised in the Dashboard (Transaction To Authorise). Signatories Users have 7 calendar days to do so- Corporate only
- The number of transfers done (View Transactions & Initiated Transactions)
- The status of your transactions (Initiated and Authorised)
- The total amount of each transaction in original currency
Where do I see my account balance?
Account balance can be seen under "Account Information"
Where do I obtain my past transactions?
- Click on "Account Information > Transaction history"
- Choose your account number
- Choose either "Current Period", "Specified period" or "Previous Period"
- 'Current Period' will display transactions for the last 60 days
- 'Specified Period' will display transactions for a specific period of time. However, transactions prior to 18 Oct 2010 will not be displayed.
- Please select a "Start Date" & an "End Date" by clicking on the calendar.
- Click on "Submit"
- 'Previous Period' will display transactions for the last 8 months before the 15 Oct. 2010
Where do I perform transfers of funds?
Go to "Online Payments"
What are the transfers that can be done through the Online Payments on IB?
- Own Account Transfer: transfers between your own Current and Savings MCB accounts. They can be made in either the currency of the account to be debited (Source Account), or that of the account to be credited (Destination Account).
- Internal Funds Transfer: transfer to another MCB account
- Domestic Funds Transfer: transfer to another local bank in MUR currency only. Transfers through normal clearing (non-MACSS) are not available through IB. If account to be credited is a foreign currency account, the transfer should be performed through
- International Funds Transfer : transfer to local and overseas banks in foreign currency
Can transfers be done on credit card?
Yes transfers can be done on your own card account/s and on third-party card accounts in MUR currency only. Go to "Credit Cards> Credit Card Payment"
Where do I see my credit card transactions?
- Under "Credit Cards> Credit Card Summary"
- Click on the card number and your last transactions will be displayed
- For more transactions, click on the arrow (>>) above
What does Time Out mean?
After a period of inactivity on the service, the system will automatically log you out.
- Individual user: 10 minutes
- Corporate user: 15 minutes
What is a Template? How to create it?
A template is useful when you have regular transfers. For example, you can:
- Select your type of transfer (E.g.: Internal Funds Transfer).
- Fill in the required fields and click on "Save as Template" once you have filled in all the fields
- To retrieve the "template", you may go on your "Dashboard and click on 'View Drafts/Template" or
- Select the transfer to do and then click on "Existing template" and on the magnifier
- All templates will be defaulted.
- Information in a template can be amended (ex: amount, a/c number, etc).
Can we delete a Template?
- Yes. Go to Dashboard > View Drafts/Templates
- Select the template and hit "Delete"
What is a Draft?
In case you do not complete a transfer, you may save the transfer as a draft and complete it afterwards.
- Go to "Dashboard > View Drafts/Templates"
- Once you complete and submit it, the draft will disappear from your Dashboard.
What is a beneficiary?
A beneficiary is someone to whom you need to transfer funds either locally or overseas. It is useful to create a beneficiary when you have regular transfers towards the same beneficiary.
How do I create a beneficiary?
- Go to "Online Payments > Beneficiary Maintenance"
- Select a "Transaction Type" as per the payment transfer to be done, whether to a MCB account, another local bank account in MUR currency or a foreign currency account in another local or overseas bank.
- Hit "Create Beneficiary Template"
- "Beneficiary ID" stands for a reference/nickname you may give to the beneficiary
- Fill in all fields and click on "Add"
Where can I obtain my IBAN?
- Go to "Account Information > Account details"
- Choose your account number and click on "Submit" or
- Go to "Account Summary", click on any account number under 'Current and Savings'
How do I change passwords?
- Click on the "Key" icon at the top right of the screen
- Choose between Login or Transaction Password (if you are not holder of a security token)
- Fill in the fields
- Click on "Change"
- For security reasons, it is strongly recommended to regularly change your password
Where do I go to authorise a transfer for my company?
Go to "Dashboard > Transaction to authorise"
Does a Corporate User need a password to initiate a transaction?
Corporate Users will need either the Transaction Password or the Security Token to initiate a transaction. It will depend which of the two has been granted to them.
How can I set up a Standing Instruction (SI)?
- Go to "Online Payment"
- Choose the type of Transaction you want to effect (except International Funds Transfer)
- Fill in the fields
- Click on "Set up Standing Instruction" under the Payment Details section
- Fill in the SI Detail fields
How do I cancel a Standing Instruction?
- Go to "Online Payment"
- Then, go to "Standing Instruction Cancellation" by clicking on the arrow on the right
- Choose your account
- Click on "Submit"
- Choose the Standing Instruction to cancel by clicking on the Reference No.
What is Pay Later?
It allows you to create and submit a transfer now but with a deferred payment date.
Where can I see my Pay Later transfers?
Go to 'Online Payment -> Pending Transfers'
Can I cancel a Pay Later transfer?
Yes. Go to 'Online Payment > Pending Transfers'
What is the maximum number of days for a Pay Later transfer?
60 days as from set-up date.
How can I request for a Cheque Book?
- Go to "Customer Services"
- Choose "Cheque Book request" and the appropriate fields.
How can I add an account on Internet Banking?
The following amendment form can be requested in any of our branches:
- F1286A: for individual customer
- F1286B: for corporate customer
How can I change my Token Password?
- Switch on your Security Token
- Type the Token PASSWORD
- Click on "On" or "Ok"
- Click on "Menu" button
- 'CHANGE PASSWORD' appears
- Click on "On" or "Ok"
- 'NEW PASSWORD' appears
- Type your new token PASSWORD (5 digit)
- Click on "On" or "Ok"
- 'CONFIRM' appears
- Type in your new token PASSWORD
- Click on "On" or "Ok"
- 'COMPLETE' appears
Is there a Hotline?
(+230)202 6060 (lines are open everyday from 08:00 to 20:00 hrs.)
How can I stop a Cheque Book if I do not have the cheque numbers?
You may enter the reason in the field "Select Action"
- Choose the account number
- Select the "Reason"
- Leave the "Cheque Number" and "Cheque Range" free
- Click on "Submit"
What is a sitemap?
The sitemap shows all options available on your Internet Banking service on one screen.
Can I remove a joint account on IB?
Joint account is displayed on all account holders' Internet Banking service. If one account holder wishes to remove one account on Internet Banking, all the other account holders will not see it as well.
How long will my mail messages be available on IB?
Mail messages are displayed for 3 months
What if I close my session without logging out?
It is recommended to log out before closing the window. But, even if a session is closed without a proper log-out, you will be prompted to enter your User Id and Login Password again. But any unsaved transfer will be lost.
What is the use of 'User Reference Number'?
When a transfer is saved as a template, you may search for it by inserting the User Reference Number in the search criteria to ease the search process. No space or characters other than alphabets and numbers are accepted in this field.
What is the "Narrative" field?
The "Narrative" gives you the possibility to insert a reference which will appear on your statement of account and on the beneficiary's statement of account (MCB account only). It is limited to 16 characters and allows the following characters: a to z, A to Z, 0 to 9, - . , ' ( ) and space.
What is the difference between 'Payment Details' and 'Narrative' in Domestic Account Transfer?
- Information entered in the Payment details field will be displayed on both statements of account (customer & beneficiary) - mandatory field
- Information entered in the Narrative field will be displayed on your statement of account only - optional field
What rate of exchange is used to compute my balance in rupees for my foreign currency accounts?
The mid rate is applied (average of selling TT and buying TT rates)
What is "Account Status: Inactive"?
Accounts on which no transactions have been processed for the last 2 years. You need to call at Bank to "reactivate" the account. Documents needed are:
- National Identity card
- Proof of address
What is "Ledger Balance"?
It represents the balance of your account irrespective whether these funds are held for reimbursement or cheques not yet cleared.
What is "Amount on Hold"?
It is the difference between your "Ledger Balance" and your "Balance Available". It may represent:
- Amount held for loan/ credit card repayment
- Cheque credited to your account but not yet cleared
What is "Balance Available"?
It represents the amount you may dispose of.
What are 'Rollover instructions' under Fixed Deposit Details?
At expiry date, original instructions will prevail if not otherwise instructed
What are my transfer currency options for an 'Own Account Transfer'?
Transfers can be made in either the currency of the account to be debited (Source Account), or that of the account to be credited (Destination Account).
What are my transfer currency options for a 'Domestic Funds Transfer;?
- The currency is set to MUR.
- Transfers in foreign currency to another bank should be done in International Funds Transfer
What is the cut-off time for a Domestic Account Transfer?
- Cut-off time is 16:00 hrs.
- Transfers initiated after 16:00 hrs will be processed on the next working day
When will my account/beneficiary's account be credited when I effect a payment to another local bank?
The local bank receives the funds on the same day if the transfer is done before the cut-off time, which is 15:00. The credit to the beneficiary's account will depend on the beneficiary's bank.
What are the daily funds transfer limits I can apply for?
The following bands are available:
|
MUR 5,000
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MUR 10,000
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MUR 25,000
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MUR 50,000
|
|
MUR 100,000
|
MUR 250,000
|
MUR 500,000
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MUR 1,000,000
|
What is the use of the 'Template Access Type'?
This may be of importance for Corporate Users.
- Private: Only the User who has created the template will have access to it
- Public: every user, having access to this type of transfer, will have access to the template
When do I select SWIFT or Bank Details?
This may be of importance for Corporate Users.
Firstly, you need to know exactly what your beneficiary's bank requires in order for the transfer to go through.
- If you have the SWIFT code, you need to choose "SWIFT". You will be required to insert the SWIFT code and at least the Bank name and address. The "City & Country" fields are exempted.
- If you have the full beneficiary's bank details, then you need to choose "Bank Details". Apart from the "SWIFT" field, you will need to fill in each field.
- For transfer to South African banks, the Branch Code is compulsory
What are the different Correspondance charges for International Funds Transfers?
- Shared: The charges will be shared. The ordering customer will bear MCB charges whereas the beneficiary will be charged the overseas bank charges.
- Remitter: The ordering customer (the remitter) will bear all the charges (MCB + overseas bank charges)
- Beneficiary: The charges will be borne by the beneficiary only (MCB + overseas bank charges)
How do I search for the details of a past transaction or request?
- Go to your Dashboard > View Transactions
- Under "Transaction Type", choose the transfer type and click on "Successful"
- All transfers done will be displayed
- Click on the "EBanking Reference No." which relates to the specific transfer you are looking for.
What are the different types of statuses for Internet Banking transactions or requests?
- In Process: Transaction is being processed by the Bank
- Successful: Transaction successfully processed (For Pay Later transaction, the message is displayed despite the fact that the transaction has not yet been processed).
- Unsuccessful: Transaction failed
- Awaiting System Response: Communication error. Please contact the Bank if the status does not change within 10 minutes
Where do I input the IBAN for foreign currency transfers?
The IBAN must be inserted in the "Beneficiary Account Number" field.
What is Bulk Payment?
As its name suggests, it is a facility given to corporate users to perform payments in bulk (for eg: salaries, dividends etc.).
What are the fees for Bulk Payment?
- The Bulk Payment Option is free
- Click on the link for transaction fee
What should I do if I have the following error message: "Your request has timed out. For a transaction request, please check the status on your dashboard or contact the Bank"?
Check your dashboard to verify the transaction status or call +230 202 6060 for more details.