Despite the two banking giants being the preferred top banking choice by the South African elite, it is worth noting that EFT money payment from FNB to Nedbank transfer time is approximately 24 hours, with the exclusion of weekends and holidays.
This time frame does not conform to the propensity of choice when you opt for instant or immediate transfer and this guideline aims to dissect the truth on this issue, expose the medium used in sending it, and the time range.
FNB, with its 11.49 million customers and Nedbank’s 7.5 million customer base accounts for a majority of EFT-related financial transactions daily.
This guideline traverses and combs through all the details you need to know about how long it takes for money to show or reflect from FNB to Nedbank.
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How Long Does Payment from FNB To Nedbank take to Reflect and show?
While there are varying factors that play crucial roles, the following are briefs on each:
1. Immediate Pay And Clear Option
FNB’s immediate pay and clear option to Nedbank cost R7.50, but it is truly worth it because the transfer takes less than 1 hour.
I use FNB for business, from experience, my advice to most people based on the purpose of your transaction, I recommend enabling the FNB immediate pay and clear option.
A serious business person should always use this option. In case and moments of emergency, this option should be chosen to send money to Nedbank.
- Using FNB App
An EFT payment from an FNB App to Nedbank takes less than 1 hour for the money to land in the recipient account. You will still pay the same R7.50 transfer fee.
The beauty of this is that you will receive a PDF notification in your email and also an SMS notification that you made such a transfer.
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2. Standard Payment Option
Because of the high-profile customers using FNB and Nedbank, few of them make use of the normal or standard transfer option.
However, it is worth noting that with the standard or normal option chosen, an EFT FNB to Nedbank takes approximately 24-48 hours ( 1-2 days), excluding weekends ( I explained below).
Without juxtaposing convenience with stress, I will never advise anyone to use the standard transfer option because of delays. Aside from the standard 24-48 hours, it may extend beyond this time frame if the receiving end i.e. Nedbank or even FNB has an internet or network problem.
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FNB To Nedbank Transfer Time On Weekends And Holidays
Sending and transferring money on weekends and during the holidays has different receiving times. All the variables and options are discussed below.
- Immediate pay and clear option
Using FNB pay and clear transfer option to Nedbank during the weekend ( Friday, Saturday, Sunday) takes less than 1 hour for the money to clear and reflect in the bank account.
I have done this many times and I can tell you that the payment goes through within 1 hour!!
- Normal/Standard Payment Options
For normal transfers from FNB to Nedbank during the weekends, it can take upward of more than 3 days. This is not a recommended option in my opinion.
All transactions enacted will be processed starting on Monday; if you are lucky, probably you send the money on Sunday, you are sure of getting it either Tuesday or late Monday evening.
- For Holidays
FNB pay and clear option to Nedbank on holidays take 1-2 hours for the money to reflect, with R7.50 fees or higher.
For the normal payment option, it will be processed when the holiday is over. This is another valid reason why you should always use the FNB pay and clear option to make payment to Nedbank.
