Old Mutual to Tyme Bank Transfer Time

Old Mutual recently received a banking license. All along, they were operating their banking arm as part of Bidvest. Many people know Old Mutual as one of the biggest insurance companies in South Africa. Not many are aware of the fact that they also offer banking services. People can sign up for the Old Mutual Money Account. It’s likely that now that they have their own license, the number and types of accounts that they offer will expand. You are here because you are wondering about the Old Mutual to Tyme Bank transfer time.

How long does it take to transfer money from Old Mutual To Tyme Bank?

The Old Mutual to Tyme Bank transfer time is 2 days. However, if you made the transfer towards or over the weekend, you can expect that time to be even greater. That’s because processing of EFT transfers is slow over weekends.

Can I send money faster?

In most instances, when people send out money from one account to the other, they wish to have it delivered as fast as is possible. Maybe you are sending money to a friend or relative. You want to have them receive it quickly so they can use it.

The same applies when it comes to the business world. Transfers need to be processed fast for business transactions to occur smoothly. However, that is not the case for normal transfers in South Africa. In some instances, you need to wait 3 days before the money arrives at the destination account.

So, what can you do to speed things up? The good thing is that you can use what is called an immediate payment for faster transfers. This feature is offered by all banks in South Africa. Immediate payments allow EFTs to be done almost instantly.

One thing to note is that immediate payments with Old Mutual are not free. You are charged a small fee. Most people find this to be acceptable. In return, you get the convenience of receiving your money when you need it.

Another thing to point out is that immediate payments are not immediate. You need to wait a few minutes to a few hours before the money is delivered. The same situation applies whatever the bank you may be using. It’s not restricted to Old Mutual.

You need to be patient

Each day we get a number of comments on this site from people who are impatiently awaiting the arrival of their money. When you make a normal EFT, you need to be patient.

In the above sections, we gave the Old Mutual to Tyme Bank transfer time. You can also search through this site for other transfer times for different banks.

One common thread is that people eagerly awaiting their money tend to become restless, which is understandable. However, in all instances, the money will be delivered. You don’t have to worry about that.

How to open an Old Mutual Bank account

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