Community

FAQ

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, recharge mobile etc.

How much does it cost?

  • MCB IB facility is free of charge for our individual customers.
  • Corporate customers (Non-Individuals) pay SCR 600 annually. Please see our website for charges (www.mcbseychelles.com).
  • 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 Login Password will be sent by email.  You will have to collect your new Transaction Password in any MCB Branch.

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 Non-Individuals only
  • Transactions initiated need to be authorised in the Dashboard (Transaction To Authorise). Signatory Users (Non-Individual) have 7 calendar days to do so
  • 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
    • 'Previous Period' will display transactions for 2 months prior to the Current Period.  
    • 'Specified Period' will display transactions for the past 6 months with 2 months query available at a time.  
Note: Transactions prior to 13 January 2014 will not be displayed.
  • Please select a start date “From Date” and an end date "To Date" by clicking on the calendar.
  • Click on "Submit"

Where do I perform transfers of funds?

Go to "Funds Transfer”. Select Online Payments and the Transfer Type in the dropdown list (Own Account Transfer, MCB Account Transfer, Other Local Bank SCR Transfer or Transfer to Other Banks in FCY (SWIFT) and click on ‘Submit’

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).
  • MCB Account Transfer: transfer to another MCB account
  • Other Local Bank SCR Transfer: transfer to another local bank in SCR currency only. If account to be credited is a foreign currency account, the transfer should be performed through ‘Transfer to Other Banks in FCY (SWIFT)’
  • Transfer to Other Banks in FCY (SWIFT) : 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 SCR currency only. Go to "Credit or Business Cards> Credit or Business Card Payment"

Where do I see my credit card transactions?

  • Under "Credit or Business Cards> Credit or Business 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.: MCB Account 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 "Funds Transfer> Beneficiary Maintenance"
  • Select a "Transfer Type" as per the payment transfer to be done, whether to a MCB account, another local bank account in SCR 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"

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 "Funds Transfer"
  • Then, go to “Standing Instruction/Direct Debit”, and in the “Select Type” field, choose “New Standing Instruction”.
  • Select the “Transfer Type” and click on “Submit”.
  • Fill in the fields
  • You can also go to “Funds Transfer>Online Payments” and select the “Transfer Type”.

How do I cancel a Standing Instruction?

  • Go to "Funds Transfer"
  • Then, go to “Standing Instruction/Direct Debit”, and in the “Select Type” field, choose “Standing Instruction (Cancel / View)” and click on “Submit”.
  • Select the account where you want to cancel the Standing Instruction and click on “Submit”
  • Click in the “Select” button where the Standing Instruction needs to be cancelled and choose “Cancel SI”

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 'Funds Transfer’ -> Pending Transfer'

Can I cancel a Pay Later transfer?

Yes. Go to ‘Funds Transfer’> Pending Transfer'

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:
  • SEYF 102: for individual customer
  • SEYF1286B: for Non Individual customers
  • SEYF1286C: for users of Non Individual customers

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?

(+248) 428 6879 (lines are open everyday from 08:15 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 "ChequeRange" 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:
Current Account – Last 1 year
Savings Account – Past 2 years
 
You need to call at Bank to "reactivate" the account. Documents needed are:
  • National ID 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 Other Local Bank Account Transfer?

  • The currency is set to SCR.
  • Transfers in foreign currency to another bank should be done in Transfer to Other Banks in FCY (SWIFT)

What is the cut-off time for another Local Bank Account Transfer?

  • Cut-off time is 14:00 hrs for non cross currency transactions and 12:00 for cross currency transactions
  • Transfers initiated after cut-off will be processed on the next working day

What are the daily funds transfer limits I can apply for?

The following bands are available:
SCR 10,000
SCR 25,000
SCR 50,000
SCR 100,000
SCR 250,000
SCR 500,000

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?

  • If you have the SWIFT code, you need to choose "SWIFT"
  • If you have the full bank details, then you need to choose the "Bank Details"
  • For both option, the Branch/ Sort Code field can be filled. e.g. for 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 +248 428 6879 for more details.

How do I apply for IB?

You need to call at one of the MCB branches.

What are the documents needed for an Individual customer to apply for IB?

  • National Identity Number (or passport for non-citizens)
  • A proof of address in your name (in case your records are not updated at the Bank)

What do I need to log-in to IB?

  • User Id. The user's identification number
  • Login Password numerical/alpha-numerical password used to log-in to the service

What are the recommended browsers?

  • Internet Explorer 7 and above
  • Mozilla Firefox 3.2 and above
  • Google Chrome 6 and above
  • Safari 3.2 and above

How to use the Security Token?

  • Switch on your Security Token
  • Type in your Token PASSWORD and 'CHAL' will appear
  • Type the 7-digit 'CHALLENGE' number on your Internet Banking screen
  • Press "ON" or "OK"
  • A 6-digit response will appear
  • Enter the Token response in the field on your Internet Banking screen
  • Click on 'Authorise' or "Initiate"

Is IB secured?

  • MCB IB provides you with maximum security and confidentiality for your banking transactions over the web.
  • All your transactions are encrypted, using strong encryption keys commercially available to date.
  • The MCB website uses a Verisign Secure Server Digital ID to offer proof of identity, to enable secure communications and to encrypt transactions with site visitors through their web browser connections.
  • The "s" in https and the closed padlock indicate that the website is secured. 

What are the security issues with managing my accounts via the Internet?

A personal MCB User ID and a computer-generated password that will be known only to you will ensure that no one but you will have access to your accounts 
On your first login session, you will be requested to change the allocated password. 
We strongly recommend that:
  • You memorise your User ID and password.
  • You keep your User ID and password separately and in a safe place.
  • You change your password regularly.

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

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

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 should I do if I get Login Failed?

  • "Login Failed" means you have entered a wrong User Id and Login Password combination more than 3 times and that your IB access is locked.
  • Call (+248) 428 6879 for assistance

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 (+248) 428 6879 for more details.

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

My Security Token displays the message Locked. What should I do?

Call (+248) 428 6879

What should I do if I get Authentication Failed when using my Security Token?

This could be a wrong "Challenge" or "Token response" being inserted. Please ensure that the "Challenge" is correctly entered on the Security Token and that the "Response" provided by the Security Token is correctly inserted on IB. If the problem persists, call (+248) 428 6879

Why do I have "ERROR" when trying to change my Token Password?

The new PASSWORD is a too easy combination (e.g.: 12345)