SAQA All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.
SOUTH AFRICAN QUALIFICATIONS AUTHORITY 
REGISTERED UNIT STANDARD: 

Provide a banking-related financial solution involving foreign exchange 
SAQA US ID UNIT STANDARD TITLE
117831  Provide a banking-related financial solution involving foreign exchange 
ORIGINATOR
SGB Banking and Micro Finance 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
BANKSETA - Banking Sector Education and Training Authority 
FIELD SUBFIELD
Field 03 - Business, Commerce and Management Studies Finance, Economics and Accounting 
ABET BAND UNIT STANDARD TYPE PRE-2009 NQF LEVEL NQF LEVEL CREDITS
Undefined  Regular  Level 4  NQF Level 04 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Reregistered  2018-07-01  2023-06-30  SAQA 06120/18 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2024-06-30   2027-06-30  

In all of the tables in this document, both the pre-2009 NQF Level and the NQF Level is shown. In the text (purpose statements, qualification rules, etc), any references to NQF Levels are to the pre-2009 levels unless specifically stated otherwise.  

This unit standard replaces: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
7246  Provide a banking-related basic financial solution involving foreign exchange  Level 4  NQF Level 04  11  Complete 

PURPOSE OF THE UNIT STANDARD 
This Unit Standard is for all persons working in the FOREX section of a Financial Services Institution.

Persons credited with this Unit Standard will be able to:
  • Establish the nature of the customer's needs
  • Link the customer's needs to the appropriate foreign exchange product/s
  • Provide the relevant foreign exchange product/s. 

  • LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
    It is assumed that learners accessing this Unit Standard will be competent in Communication at NQF Level 3 

    UNIT STANDARD RANGE 
    Travelers' cheques, foreign notes, credit cards, drafts, tele-transmissions related to retail products, clean bills of exchange 

    Specific Outcomes and Assessment Criteria: 

    SPECIFIC OUTCOME 1 
    Establish the nature of the customer's needs. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The customer's nationality and residential status are verified according to Reserve Bank requirements. 

    ASSESSMENT CRITERION 2 
    The customer's relationship with the institution is established in accordance with the institution's policy. 

    ASSESSMENT CRITERION 3 
    The reasons for the customer's request are ascertained in compliance with Reserve Bank requirements. 

    ASSESSMENT CRITERION 4 
    The specific transactions required to execute the customer's request are identified in the manner required by the institution. 

    SPECIFIC OUTCOME 2 
    Link the customer's needs to the appropriate product/s. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The customer's requirements are matched with a range of appropriate foreign exchange products in line with the institution's policy. 

    ASSESSMENT CRITERION 2 
    The specific features and benefits of the products are explained in the manner required by the institution so that the customer can make an informed decision. 
    ASSESSMENT CRITERION RANGE 
    Convenience, safety features, access to funds
     

    ASSESSMENT CRITERION 3 
    The customer's concerns are addressed politely and to the customer's satisfaction. 

    ASSESSMENT CRITERION 4 
    The terms and conditions governing FOREX are explained in terms that the customer should understand. 
    ASSESSMENT CRITERION RANGE 
    Including, but not limited to interest and exchange rates, commission, Reserve Bank rulings and regulations.
     

    ASSESSMENT CRITERION 5 
    The customer's choice is reviewed and linked with the expressed need in the manner required by the institution. 

    SPECIFIC OUTCOME 3 
    Provide the relevant foreign exchange product/s. 

    ASSESSMENT CRITERIA
     

    ASSESSMENT CRITERION 1 
    The required documentation is collected and completed according to Reserve Bank requirements. 

    ASSESSMENT CRITERION 2 
    The required documentation handling procedure is completed according to the institution's policy 

    ASSESSMENT CRITERION 3 
    Revenues and commission are recovered, if necessary, according to stipulated procedures. 

    ASSESSMENT CRITERION 4 
    The customer contact is recorded according to the institution's policy. 

    ASSESSMENT CRITERION 5 
    Confirmation of the rates and the customer's agreement to the rates is obtained in line with the institution's procedures 

    ASSESSMENT CRITERION 6 
    The documentation is forwarded to the relevant department as per stipulated procedure. 


    UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
  • An individual wishing to be assessed (including through RPL) against this Unit Standard may apply to an assessment agency, assessor or provider institution accredited by the relevant ETQA, or an ETQA that has a Memorandum of Understanding with the relevant ETQA.
  • Anyone assessing a learner against this Unit Standard must be registered as an assessor with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Any institution offering learning that will enable achievement of this Unit Standard or assessing this Unit Standard must be accredited as a provider with the relevant ETQA or with an ETQA that has a Memorandum of Understanding with the relevant ETQA
  • Moderation of assessment will be conducted by the relevant ETQA at its discretion. 

  • UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • Financial analysis to evaluate an individual's financial standing
  • Report writing
  • Operating and computer systems
  • The basic elements of credit risk and basic principles of sound lending
  • Banking products
  • Good customer relation skills
  • The Code of Banking Practice 

  • UNIT STANDARD DEVELOPMENTAL OUTCOME 
    N/A 

    UNIT STANDARD LINKAGES 
    N/A 


    Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    To identify and solve problems in which responses display that responsible decisions using critical and creative thinking have been made when the customer's requirements are matched with a range of appropriate foreign exchange products in line with the institution's policy. 

    UNIT STANDARD CCFO WORKING 
    To work effectively with others as a member of a team, group, organisation and community when the application is submitted to the relevant department for approval/decline, unless system-approved or declined, according to the institution's procedures 

    UNIT STANDARD CCFO COLLECTING 
    To collect, organise and critically evaluate information when the reasons for the customer's request are established in discussion with the customer. 

    UNIT STANDARD CCFO COMMUNICATING 
    To communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations when the specific features and benefits of the range of product are explained according to the institution's policy. 

    UNIT STANDARD CCFO DEMONSTRATING 
    To demonstrate an understanding of the world as a set of related systems. The terms and conditions governing forex are explained in terms that the customer should understand 

    UNIT STANDARD CCFO CONTRIBUTING 
    To contribute to the full personal development of each learner and the social and economic development of society at large, by making it the underlying intention of any programme of learning to make an individual aware of the importance of:
  • Reflecting on exploring a variety of strategies to learn more effectively;
  • Participating as responsible citizens in the life of local, national and global communities;
  • Being culturally and aesthetically sensitive across a range of social contexts;
  • Exploring education and career opportunities; and
  • Developing entrepreneurial opportunities.
  • The customer is provided with the necessary contact information for queries according to banking procedure. 

  • UNIT STANDARD ASSESSOR CRITERIA 
    N/A 

    REREGISTRATION HISTORY 
    As per the SAQA Board decision/s at that time, this unit standard was Reregistered in 2012; 2015. 

    UNIT STANDARD NOTES 
    This unit standard replaces unit standard 7246, "Provide a banking-related basic financial solution involving
    foreign exchange", Level 4, 11 credits.

    Legal:
  • All procedures must meet recognised codes of practice as well as obligations required under current legislation within South Africa and within the normal parameters of the defined job/task.
  • Money Laundering Act 

  • QUALIFICATIONS UTILISING THIS UNIT STANDARD: 
      ID QUALIFICATION TITLE PRE-2009 NQF LEVEL NQF LEVEL STATUS END DATE PRIMARY OR DELEGATED QA FUNCTIONARY
    Elective  20185   Further Education and Training Certificate: Banking  Level 4  NQF Level 04  Reregistered  2023-06-30  BANKSETA 


    PROVIDERS CURRENTLY ACCREDITED TO OFFER THIS UNIT STANDARD: 
    This information shows the current accreditations (i.e. those not past their accreditation end dates), and is the most complete record available to SAQA as of today. Some Primary or Delegated Quality Assurance Functionaries have a lag in their recording systems for provider accreditation, in turn leading to a lag in notifying SAQA of all the providers that they have accredited to offer qualifications and unit standards, as well as any extensions to accreditation end dates. The relevant Primary or Delegated Quality Assurance Functionary should be notified if a record appears to be missing from here.
     
    1. Absa Learning & Development 
    2. Bidvest Bank 
    3. Chartall Business College 
    4. Cornerstone Performance Solutions (Pty) Ltd 
    5. Felix Risk Training Consultants 
    6. Firstrand Bank - Benmore 
    7. Nedbank Ltd 
    8. The Facilitation Workshop 



    All qualifications and part qualifications registered on the National Qualifications Framework are public property. Thus the only payment that can be made for them is for service and reproduction. It is illegal to sell this material for profit. If the material is reproduced or quoted, the South African Qualifications Authority (SAQA) should be acknowledged as the source.