How Much is an Instant Payment at Absa

How much is instant payment at Absa in South Africa? It’s something that a lot of Absa customers have been enquiring about. Instant payments are great in that they allow you to quickly send money to another person’s account at another bank. Under normal circumstances, it can take a little while for money to be reflected in that person’s account. But with Absa immediate payments, the payment is very fast. But how much are you charged for making an Absa immediate payment?

Absa immediate interbank payments charges;

Absa charges R10 for instant payments that are R1000 and below. For payments that are over R1000, the immediate payment fee rises to R49. This applies if you are making your payment via any one of the available digital banking platforms, including through the app and via internet banking. However, if you with to make an immediate transfer at the bank, you will be charged R80 per transaction.

How to make an Absa instant payment

That’s the answer to the question how much is an instant payment at Absa. Instant payments are convenient, but how do you carry them out? The following is how to perform an Absa immediate payment using the bank’s app;

  1. Open the Absa app and log in.
  2. Go to Pay.
  3. Choose Pay new beneficiary.
  4. Enter the beneficiary’s details.
  5. Type in the amount to be paid.
  6. Choose the Immediate interbank payment option.
  7. Click on Next.
  8. Confirm that you wish to go ahead with the transaction.

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Are immediate interbank payments instant?

This post was dedicated to showing you the answer to the question how much is an instant payment at Absa. One thing that you may be wondering about is, are these payments immediate?

With normal bank transaction, you may have to wait some time for your payments to be cleared. That could be something of an inconvenience if there is something that you wish to buy.

In fact, with normal payments, the waiting period can be between 24 and 48 hours. However, that is not the case with instant payments. If you make one of those, payment goes through within one hour.

According to Absa, immediate payments depend on the receiving bank. So, the time that it takes for your payment to be cleared is largely dependent on the receiving bank. If they are fast, then your payment will go through within 30 minutes.

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