From experience, numerous transactions that I have enacted show that Absa to Capitec transfer time is within 5-45 minutes if you choose the instant payment option for the money to show in the recipient’s Capitec bank account.
I believe I am an authority on this topic because my girlfriend uses both Absa and Capitec accounts while I use an FNB cheque account, so all I will be sharing in this guideline is borne from real-life experience.
Absa and Capitec share a very much exciting intertwined history, and nearly related values anchored on delivering selfless and excellent services to its numerous customers in South Africa.
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With a combined accumulative customer base of 32.2 million clients ( 2023 Estimate) from 12.2 million ( for Absa, as of 2023 ) and 21 million for Capitec ( As of August 2023) respectively, their transactional daily volume is immense, holds significant and strategic banking influence.
The focus of this in-depth guideline is showcasing and unboxing all the details needed to know how long it takes to receive money sent from Absa bank to reflect in Capitec bank, the charges involved, and the channels or medium of sending the money.
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Absa To Capitec Transfer Time
The answer to this emphatically depends on whether you sent it using the normal/standard way or you leverage the use of the Instant payment option.
The following explanation dissects and expands all the intricacies you need to know:
1. Immediate Or Instant Payment Option
Absa, just like Capitec has these options but it comes at a cost. However, the instant fee payment of Absa to Capitec tends to be on the high side compared to sending payment from Capitec to Absa.
For example, Absa to Capitec transfer time, though takes between 5-45 mins using the instant payment options incurs R10 for payment below R1000, R49 for payment above R1000, and R80 for either option if you walk into the Absa banking hall to send money to Capitec.
The below shows the breakdown of the various transfer times based on the medium used:
- On The App
With the Absa App, making money or transferring money to Capitec with the instant or immediate option enabled, the money shows in the customer’s or client’s account within 5-45 minutes.
The Transfer fee is R10 ( below R1000), R49 ( above R1000)!!
- Online ( EFT):
An online or electronic fund transfer ( EFT) from Absa to Capitec bank with the instant payment option chosen, takes less than 45 minutes for the money to show in the client’s account. The transfer fee is the same as above.
- Use of Absa Card
Making use of the Absa card is not my recommended option to send money to Capitec. If however, this is your preferred means, please note that the transfer time is less than 45 minutes.
The same fee of R10 ( for an amount less than R1000) and R49 ( amount more than R1000) is charged to your Absa account.
Please note that the Absa to Capitec transfer time which is less than 45 minutes is the same for all days ( Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, and Sunday) in as much the instant or immediate option is chosen,
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2. Standard Absa Payment To Capitec
The above explanation has laid to rest the pertinent question of how long it takes for payment from Absa to Capitec; however, the answer above is for the instant payment option.
This section analyzes the standard payment, which in most cases, an average South African chooses. While the transfer time is much more than the above, the explanation below answers your questions.
- Use of Absa App
The time frame is within 24 hours for a standard payment from Absa to Capitec Bank.
- Online ( EFT)
Leveraging the use of Electronic payment ( EFT) from Absa to Capitec on the normal and standard option takes 24 hours to clear and be present in the client’s account.
- Use of Absa Card
From my own experience making use of the ATM stand at Fourways Mall, it takes within 24 hours for money to show in the client or recipient Capitec account.
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How Long Does it Take to Transfer Money During the Weekends and Holidays?
Based on the two ways to enact weekend or holiday transactions, the following are the answers required:
- Absa App To Capitec: Enacting the immediate pay and clear options takes 5-45 minutes for money to reflect in the Capitec account when sent on weekends or holidays
- Use of online Internet banking ( EFT): Time frame within 5-45 minutes to transfer from Absa to Capitec on weekends and holidays when you enable immediate or instant payment.
- Absa card: It takes 5-45 minutes if done with the immediate pay and clear option
However, if you make the transfer without the immediate pay and clear options on weekends, it takes 24-48 hours for it to clear depending on whether it was sent on Friday, Saturday, or Sunday. If it was sent on Friday, it may exceed 48 hours.
