As an FNB cheque account owner, on using the App, my experience has taught me that the FNB to Capitec transfer time takes less than 20 minutes whenever I enable and use the immediate pay and clear option.
This experience resonates positively well because most of the recipients I send money to get it, whether it was on Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, or even Sunday that I sent it.
It is interesting to quite know that FNB and Capitec both share a lot of things in common, no wonder the volume of daily transactions from Capitec to FNB and vice versa tends to be the highest amongst South Africa’s first-tier banking institutions.
With a disappointing increase in FNB’s overall customer base of 11.49 million as of September 2023, compared to a 20 million customer base as of March 2023 for Capitec Bank; the two banks’ customer base accounts for almost 70 percent of the entire banking population in South Africa.
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These strong statistics reflect the inter and intra relationship that plays a vital role in daily transactions from and to either bank.
The essence of these comprehensive guidelines is to look at the efficiencies, cost/charges of transferring money from FNB to Capitec, and their varying transfer time.
Transfer Money From FNB To Capitec How Long Does It Take
The truth is that it depends on whether you made the payment or transfer instantly or normally; I will explain everything you need to know on how long it takes to transfer money from FNB to Capitec.
1. Immediate Payment Option
Without third party interference or delay, immediate payment from FNB to Capitec take not more than 5 minutes; I am talking from experience because I have an FNB cheque account and most of my transactions are done on the App.
- On The App:
When you make a payment or transfer money from FNB to Capitec using the FNB, it is instant i.e. the recipient gets credited immediately. In the worst case scenario, it may be delayed but not more than 5 minutes from my experience.
- Online ( EFT):
When you make an electronic fund transfer ( EFT) from FNB to Capitec and you choose the ‘ immediate payment option‘, the money is done instantly, taking not more than 5 minutes to show in the Capitec account of the recipient.
- Use of FNB Card
Making use of your FNB card on an ATM to make payment to a Capitec account takes less than 5 minutes for the money to reflect in the destination account in as much as you chose the immediate pay and clear option.
As a friendly reminder, the immediate pay and clear option for the three above methods is R7!!; this figure is quite friendly compared to the R160 you pay when trying to reverse money using the Capitec app.
In addition, it does not matter whether it was done on Saturdays, Sundays, Mondays, Tuesdays, Wednesdays, Thursdays, or Fridays, in as much as you chose the immediate pay and clear options, it takes less than 5 minutes to reflect in the Capitec account.
2. Normal FNB Payment To Capitec
As is typical of all banks in South Africa doing intra-transactional payments and transfers, it takes 24 hours for payment to clear.
One of the most trending questions is how long does it take for payment from FNB to Capitec?
The following time frame applies to the three channels:
- Use of FNB App
It takes 24 hours if you make a normal payment from FNB to Capitec without immediate pay and clear options. The use of the App is equally flexible and useful when trying to reverse eWallet payment money on it.
- Online ( EFT)
Electronic payment ( EFT) from FNB to Capitec without the immediate pay and clear option takes 24 hours for it to clear. The best option is just to use the immediate pay and clear for just R7.
- Use of FNB Card
The same applies, to going to the ATM to make the transfer or payment takes approximately any time within 24 hours.
How Long Does it Take to Transfer Money During the Weekends and Holidays?
This is an important question and the following are the answers:
- FNB App To Capitec: With immediate pay and clear options, it takes not more than 5 minutes when you transfer or send money on weekends or holidays
- Use of online internet banking ( EFT): Not more than 5 minutes to transfer from FNB to Capitec on weekends and holidays.
- FNB Card: It takes less than 5 minutes likewise.
However, if you make a transfer from FNB to Capitec on weekends ( i.e. Friday, Saturday, and Sunday) or Holidays without the immediate pay and clear options, it takes 24-36 hours for it to clear and show in the Capitec account because it will be processed on Monday or when the bank resumes.
