What is the Absa EFT clearance time? A lot of Absa clients have been asking this question. Absa is one of the biggest banks in South Africa. They currently have over 9.7 million customers. Many of these people make internal and external transfers every day. But how long do you need to wait before the money that you send from your Absa account reflects on the recipient’s account? Learn more in this article;
How long for Absa transfers to be cleared?
According to Absa, the EFT clearance time is between 2 and 3 days. That’s the time for transfers that are made to other banks in South Africa. For internal transfers, money should reflect in the receiving account there and there. External transfers depend on the day on which the transfer was made. Transfers that are made towards the weekend take longer, since only working days are counted.
Is there a way of speeding up transfer times?
That’s the Absa EFT clearance time. Usually, your money will reflect in the other account within a period of 2 days. However, you need to wait up to 3 days because it can take that long before your money is transferred.
But what if you wish to have your money transferred quicker than this? Is there a way of through which you can move the money faster? The good news is that there is such a way. We have previously spoken about the cost of an immediate payment at Absa.
Immediate payments are the answer if you wish to move your money quicker. They cost more than normal EFTs, but they have the advantage that money will reflect in the other account in no time.
In this post, we focused on the Absa EFT clearance time. We noted that you need between 2 and 3 days for money that is send from Absa via Electronic Funds Transfer to reflect in the other account.
If you wish to have your money transferred quicker, you have the option of making an immediate payment. However, that will cost you some money.