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 THAT HAS PASSED THE END DATE: 

Provide a banking-related basic financial solution involving foreign exchange 
SAQA US ID UNIT STANDARD TITLE
7246  Provide a banking-related basic financial solution involving foreign exchange 
ORIGINATOR
SGB Financial Services 
PRIMARY OR DELEGATED QUALITY ASSURANCE FUNCTIONARY
-  
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  11 
REGISTRATION STATUS REGISTRATION START DATE REGISTRATION END DATE SAQA DECISION NUMBER
Passed the End Date -
Status was "Reregistered" 
2003-12-03  2004-08-11  SAQA 1351/03 
LAST DATE FOR ENROLMENT LAST DATE FOR ACHIEVEMENT
2005-08-11   2008-08-11  

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 is replaced by: 
US ID Unit Standard Title Pre-2009 NQF Level NQF Level Credits Replacement Status
117831  Provide a banking-related financial solution involving foreign exchange  Level 4  NQF Level 04  Complete 

PURPOSE OF THE UNIT STANDARD 
Persons credited with this unit standard will be able to establish the nature of the customer's needs, link them to the appropriate foreign exchange product/s and then provide the relevant foreign exchange product/s. 

LEARNING ASSUMED TO BE IN PLACE AND RECOGNITION OF PRIOR LEARNING 
Persons attempting this unit standard should be familiar with relevant Reserve Bank regulations and internal bank policies regarding foreign exchange transactions and have a broad understanding of the bank's foreign exchange products. 

UNIT STANDARD RANGE 
Travellers' 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 
1. The customer's nationality and residential status are verified according to Reserve Bank requirements. 

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

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

ASSESSMENT CRITERION 4 
4. The specific transaction requirements are identified as confirmation of the customer's request in the manner required by the bank. 

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

ASSESSMENT CRITERIA
 

ASSESSMENT CRITERION 1 
2. The specific features and benefits of the products are explained in the manner required by the bank so that the customer can make an informed decision. 
ASSESSMENT CRITERION RANGE 
Convenience, safety features, access to funds.
 

ASSESSMENT CRITERION 2 
3. The customer's concerns are addressed politely and to the customer's satisfaction. 

ASSESSMENT CRITERION 3 
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 4 
5. The customer's choice is reviewed and linked with the expressed need in the manner required by the bank. 

ASSESSMENT CRITERION 5 
1. The customer's requirements are matched with a range of appropriate foreign exchange products in line with the bank's policy. 

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

ASSESSMENT CRITERIA
 

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

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

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

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

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

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


UNIT STANDARD ACCREDITATION AND MODERATION OPTIONS 
1. Anyone assessing a learner against this unit standard must be registered as an assessor with the relevant ETQA.

2. 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.

3. Moderation of assessment will be overseen by the relevant ETQA according to the moderation guidelines in the relevant qualification and the agreed ETQA procedures.

Therefore anyone wishing to be assessed against this unit standard may apply to be assessed by any assessment agency, assessor or provider institution which is accredited by the relevant ETQA. 

UNIT STANDARD ESSENTIAL EMBEDDED KNOWLEDGE 
  • An understanding of all relevant policies and procedures
  • The ability to apply financial analysis skill to evaluate an individual's financial standing
  • The ability to express analysis and judgement clearly in writing
  • Operating and computer systems knowledge sufficient to obtain information and complete the task
  • Specific and detailed knowledge of relevant foreign exchange products
  • A general understanding of the specific risks, policies and laws relating foreign exchange transactions applicable within South Africa
  • Good customer relation skills
  • The ability to calculate rates of exchange and travel allowances
  • The ability to calculate commissions 


  • Critical Cross-field Outcomes (CCFO): 

    UNIT STANDARD CCFO IDENTIFYING 
    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 bank's policy. 

    UNIT STANDARD CCFO WORKING 
    Work effectively with others as a member of a team, group, organisation and community when confirmation of the rates and the customer's agreement to the rates is obtained in line with the bank's procedures. 

    UNIT STANDARD CCFO COLLECTING 
    Collect, organise and critically evaluate information when the customer's nationality and residential status are verified according to Reserve Bank requirements. 

    UNIT STANDARD CCFO COMMUNICATING 
    Communicate effectively using visual, mathematical and language skills in the modes of oral and written presentations when the reasons for the customer's request are ascertained in compliance with Reserve Bank requirements. 

    UNIT STANDARD CCFO DEMONSTRATING 
    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 
    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 

  • UNIT STANDARD NOTES 
    This unit standard has been replaced by unit standard 117831, which is "Provide a banking-related basic financial solution involving foreign exchange", Level 4, 11 credits.

    Legal Requirements:

    All procedures must meet recognised codes of practice as well as obligations required under current legislation applicable within South Africa and the normal parameters of the defined job or task. 

    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.