In a nutshell, the average base transfer time for EFT payments initiated within 8 am to 5 pm banking operational time on a normal payment mode from FNB to Absa takes up to 24-48 hours ( 2 days Max.) to clear, excluding weekends.
While there may be the irony of differential delivery time to Absa from FNB, this largely depends on whether you chose the immediate payment option or you just used the normal/standard method. Aside from this, it also depends on how it was sent and some other intricate factors.
The objective of this guideline is to analyze and open your eyes of understanding to these factors and present to you the expected payment time delivery from FNB to Absa either sent during weekends, holidays, using the App or EFT payment means, etc.
As one of the 11.49 million FNB customers in South Africa operating an FNB cheque account for my business, I am well-versed with detailed experience to give you accurate answers when making money transfers to an Absa bank account.
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It depends, we shall find out in the sub-topics below:
1. Immediate Pay And Clear Option
By engaging and leveraging on the use of FNB immediate pay and clear option, the money goes almost instantly to the Absa bank account.
From my experience, FNB’s immediate payment to Absa takes less than 20 minutes for the fund to reflect.
However, if there are any delays at all, it is usually from the recipient’s side i.e. Absa in this case. 9 times out of 10 times that I have sent payment to Absa using the immediate option, all the funds got to Absa within 20 minutes.
Though this instant and speedy option is not free, it requires a small payment fee of R7.50. From a professional perspective, if you are serious about sending money to anyone, be it for business transactions or emergencies, using the immediate payment option from FNB to Absa is the best. I think the payment of R7.50 should not be a problem!!
Further breakdown depending on the medium used is explained more below:
- Using FNB App
Just like above, if you use the FNB App as I do most of the time, the fund will reflect in Absa within the 20-minute time frame. It cannot exceed this time frame.
Please be reminded that the R7.50 fee will be charged and you will get a PDF email notification for the transaction.
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And,
- Using an FNB Card At an ATM
Going to any FNB ATM to initiate payment to Absa generally takes within 20 minutes for the fund to show up in the Absa account as long as you select the immediate pay option.
- Using FNB Internet Banking
When you log into your FNB internet banking portal to send payment to Absa and you choose the immediate option, the fund arrives within 20 minutes as earlier stipulated like the above options.
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2. Standard Payment Option
FNB may not be the bank with the largest customer base in South Africa, that title belongs to Capitec, however, FNB is a major bank with high-end quality net worth individuals.
Based on this detail, few customers like me make use of the standard payment option because we do not want to waste time, we value time and we are mostly business-minded people.
Now, the crux of the main question and answer that is required here is that it can take up to 2 days (a whopping 48 hours) when you send money from FNB to Absa Bank using the normal payment mode.
Yes, you read it right!!
The biggest headache will happen if you even send the money on weekends or during holidays using the standard mode, it can extend to even 3 days.
If you are stingy or probably do not wish to pay the R7.50 for immediate payment, then using the normal transfer option is cool, but be ready for an unexpected time delivery delay.
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FNB To Absa Transfer Time On Weekends And Holidays
Please understand that on a general note, sending money on weekends and during holidays has different delivery times compared to when sending it during the normal Monday to Mid Friday afternoon.
The following are briefs of this factor and the expected time the funds will appear in the Absa bank account.
- Immediate pay and clear option
When you choose the immediate pay option on FNB to make EFT payments to Absa on weekends ( i.e. from mid-Friday, Saturday, and Sundays), the fund arrives in the Absa bank account within 1 hour.
I am sharing my experience and those times are what I have discovered multiple times when doing financial transactions from my FNB App. I am of the objective opinion that this time frame is also applicable when you use the ATM or use Internet banking option.
- Normal/Standard Payment Options
Expect 2-3 days when EFT payment transfer from FNB to Absa is enacted on a weekend. This can extend up to 3 days depending on when you enacted the transaction.
- For Holidays
FNB immediate pay and clear option to Absa during the holidays take 1-2 hours for the money to reflect, with R7.50 fees or higher ( depending on the amount being transacted)
Do not even try sending money from FNB to Absa during the holiday using the normal payment option, you will be saddened because the transaction will be attended to after the holiday is over. So stick to the immediate pay and clear option and save yourself the heartache.
