Old Mutual to Nedbank Transfer Time

The Old Mutual Money Account has been growing in popularity over the past few years. You only need to pay a monthly fee of R4.95, which is why people have been flocking to it. For that, you get a fully functional account that you can use for all your banking activities. One of the things that you can do with your account is to transfer money to other banks. When such a transfer is made, how long does a person need to wait before the money arrives at the destination account. Let’s look at the Old Mutual to Nedbank transfer time;

How long does it take to transfer money from Old Mutual to Nedbank?

It can take up to 2 days for money that is send from an Old Mutual account to arrive at the destination Nedbank account. If you have made the transfer late on Friday or over the weekend, you may have to wait up to 3 days for the EFT transfer to be concluded.

Is there a way of speeding things up?

Let’s assume that you have an Old Mutual account and you are sending money to a family member who uses Nedbank. In that case, you will be looking to get money delivered as fast as is possible.

The same applies for those looking to pay for goods and services. Waiting 2 or even 3 days can be rather detrimental in this instance. So, what can you do to ensure that money that is send from an Old Mutual Money Account arrives as fast as is possible.

The good news is that you can initiate an Immediate Payment, which means the EFT will be send to the Nedbank account a lot faster. In fact, it makes sense to use this facility all the time. You do have to pay however. We have an article on what you can expect to pay when you do an instant payment.

One thing that we need to point out here is that immediate payments are not really instant. This applies for the Old Mutual money account and for accounts with other banks. You may have to wait up to 2 hours for money to arrive where it is going, but that’s better than waiting 2 days.

Choose the faster option

In almost every instance, it’s better to opt for the faster EFT option. Though you are required to pay a flat fee, the amount is no so much that you should avoid this option.

Every day, we get questions from people asking when they are going to get their money. With a normal transfer, all that you can do is wait.

The Old Mutual to Nedbank transfer time of 2 days can be shortened though this option. To avoid stress, you need to take this option. Note that the option is available whatever the bank that you may be using.

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