Capitec to Nedbank Transfer Time
Capitec and Nedbank are some of the most popular banks in South Africa. Between them, then hold nearly 30 million accounts. It’s not really a shock therefore that each day, thousands of EFT transfers happen between the two banks. But how long does it take to transfer money from Capitec to Nedbank? In this post, we focus on the Capitec to Nedbank transfer time.
How long to transfer money from Capitec to Nedbank?
The Capitec to Nedbank transfer time is usually between 1 and 2 days. If you made the transfer towards or over the weekend, the transfer may take longer. The good news is that there are steps that you can take to shorten this transfer time.
How to get faster transfers
In most instances, when you make a transfer, you want it to happen as quickly as is possible. Unfortunately, that does not happen with normal EFTs. That can be something of a pain. But why would you want a quicker transfer?
In an ideal world, what you want to happen is to have your money reflect immediately in the receiving account. That makes it easier to do business and to make other payments. It’s not ideal to have to wait a couple of days before money is reflected in the receiving account.
Fortunately, there is a way through which you can speed things up. With Capitec, you can do what is referred to as an immediate payment. With this option, money gets delivered to the receiving account almost instantly.
However, the service is not free. You are charged an immediate payment fee. However, the amount is not too much. With some banks, it depends on the amount that you are transferring via EFT. However, Capitec charges the same small fee for immediate payments under R100000.
So this is the option that you need to choose if you wish to have your money delivered quickly. One thing to note is that instant payments are not always instant. It can take an hour or so for money to arrive at the destination account. This applies whatever the bank that you may be using, so it’s not just Capitec.
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Summing up
Capitec and Nedbank are 2 of the biggest banks in South Africa. A lot of transactions take places between the two every day. One challenge that people encounter relates to delays when it comes to EFTs between the two banks.
In this post, we covered the Capitec to Nedbank transfer time. It was noted that it can take up to 28 hours for money to be delivered to the destination account when a normal EFT is used. However, you have the option of using an immediate payment, which ensures that money will arrive within a couple of hours.
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