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19 December 2008: A safer way to send money home

Many months of research with mineworkers showed TEBA Ltd that there was a need for mineworkers to be able to send money home through a formal channel rather than the many ways currently being used. Mineworkers also want to send money whenever they have cash available and especially for emergency cases, without committing the same amount every month to one individual. They wanted a money sending service that offered flexibility and assurance that their money would get to the intended person, quickly and cheaply. They also indicated that they want the service to be accessible as close to the mines as possible.

TEBA Ltd have called their service “IBAMBE” for sending Imali home. Mineworkers will have noticed that on some mines the service has been promoted via a road show in July and August. The TOM (TEBA on mine) offices also display posters showing how the service works.

The introduction of the service means mineworkers can now send hard-earned money safely and quickly to relatives whenever they have a need to, at a fixed rate of R40 per transfer, regardless of the amount they want to send. The fee is very competitive when compared to the cost of sending money via informal channels and the many cases reported where the full amount intended for the receiver, is not paid over by the courier.

Mineworkers using IBAMBE Imali, first visit their nearest TEBA Limited TOM office to collect a special deposit form which they then take to TEBA Bank to make the deposit into a cash remittance bank account. They then take proof of the deposit made back to the TEBA Ltd TOM office. At the TOM office the details are captured to the TEBAL Ltd system and the sender is given a secret pin code.

The pin code is in an envelope which only the sender can read. It is the senders’ responsibility to get the PIN code to the intended receiver. One way is to send the PIN code to the receiver via a cell-phone SMS. Another is to post it to the receiver.

As soon as the recipient gets the SMS, they go to the nearest TEBA Ltd Office. Their money will be immediately available for collection – same day. Money can be paid out to the receiver in all four foreign countries that TEBA Ltd operates in or any TEBA Ltd office in South Africa . At the TEBA Ltd office the receiver enters their secret PIN code onto a keypad, shows their ID and receives the money. TEBA Ltd records the names and ID No. as proof that the money was paid and to whom. The sender can check with their TOM office that the money has been paid over to the receiver. If the recipient does not collect payment within 15 days, the mineworker is contacted by their TOM office to collect their money, or send a reminder to their relative to pick up the funds.

Mineworkers can send up to R5000 each time but cannot go over R25 000 in the same month.

 For more information on IBAMBE Sending Imali, visit you nearest TEBA Ltd office for details, or phone: (011) 353 6000

(Source: NUM NEWS September/October 2008)