Old Mutual to Capitec Transfer Time
Old Mutual and Capitec are some of the most recognizable names in the South African banking and insurance sectors. What most people do not realize is that Old Mutual actually has a banking division that is supported by Bidvest. They offer savings and transactions accounts at an affordable rate. You are here because you are one of their customers and you wish to learn about the Old Mutual to Capitec transfer time.
How long does it take to transfer money from an Old Mutual Money Account to Capitec?
The Old Mutual to Capitec transfer time 2 days. However, if you make the transfer late on a Friday, you should expect to wait a bit longer before getting your money. That’s because in most cases, transfers done towards or over weekends only get processed from Monday.
How can I make a quicker transfer?
Like all the other banks in South Africa, Old Mutual allows for what are referred to as immediate payments. Rather than having to wait a couple of days for money to be cleared, immediate payments are processed that very same day.
We do need to note here that immediate payments are not really immediate. This applies whether it’s Old Mutual or any other bank or financial institution. In most cases, immediate payments take a couple of hours to be cleared, so you need to be patient.
Another thing to note is that there is a cost to making an immediate payment. The service is not free and it depends on the amount that you are transferring. This article shows you the cost of making an Old Mutual immediate payment.
It’s also important to point out here that once money is transferred via the normal way, there is no way through which you can expedite it. If you wish to make a quicker transfer, you should choose the immediate payment option right from the start.
Otherwise you will have to wait for the money to arrive at it’s destination. Each day we get anxious comments from people worried about their money. In fact, with other banks, it can take up to 3 days for transfers to be cleared, so Old Mutual is a bit better in this regard.
Summary
This article showed you the Old Mutual to Capitec transfer time. It was noted that you need up to 2 days for money to reflect in your account when you make such a transfer.
We also highlighted that if you wish to make a quicker transfer, you will have to take the immediate payment option.
When you do this, you are charged a small fee. The amount that is charged depends on the amount that you are transferring.