How Much is Old Mutual Immediate Payment?
Every day we get a number of comments on this site from people complaining that the money that they send from one bank to the other was yet to arrive. What you need to be aware of is the fact that it can take up to 2 days for money that is sent via EFT to be delivered, which can be a problem for people. That’s why it’s advisable to use the immediate payment option if you wish to have money delivered earlier. However, immediate payments are not free. So, how much is Old Mutual immediate payment?
How much is Old Mutual instant transfer?
Old Mutual immediate payments of R1000 and below cost R10. Meanwhile, when you make an instant transfer from R1000 to R10000, you are charged R25.
What are the limits
Old Mutual immediate payments are charged depending on the amount of money that you are sending.
You may be wondering about transfer limits when you make an immediate payment. You can send up to R10000 per day as an instant payment.
Based on the above, should you choose to send the maximum amount, you will be charged R25.
Why opt for immediate payments?
There are a number of reasons why people opt for immediate payments. We have already noted that in most instances, EFT transfers that are done the normal way from one bank to the other in South Africa take up to 2 days to be delivered.
In fact, the number of days increases to 3 with some banks. In most case, this situation is not ideal. What you want to do is to make sure that the money that you are sending or receiving arrives at the destination account on time.
If you are paying someone for a service rendered, as an example, it would not be ideal to have to wait 2 or 3 days for money to arrive where it is going. It’s the reason why immediate payments make sense. It’s also the reason why all banks in South Africa offer this.
Summary
How much is an Old Mutual immediate payment? If you have been asking this question, you are not alone. We noted in this article that a lot of people make enquiries regarding the delivery of their money.
It’s best, if you wish to get the money that you are sending delivered immediately, to opt for the Immediate Payment option. However, instant EFTs are not free. This post showed you what you can expect to pay when you send money this way.
Does Old Mutual have immediate payment?