The average base transfer time when you make a payment of money from Nedbank to Capitec bank is less than 30 minutes IF the instant or immediate option is selected. However, the same cannot be said of a standard payment.
The sole objective of this guideline is to remove the veil and all sorts of distortions that have clouded the right and immaculate answer to this evergreen question.
While it is true that the right answer on the Nedbank to Capitec transfer time depends on when the payment was sent, the time, and the medium used to make the transfer; this guideline dissects all the intricacies and annihilates bogus definitions that are essentially not needed.
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In the South African banking space, Nedbank and Capitec are two big financial behemoths whose daily inter-banking transactions balloon into millions, ostensibly owing to their combined vast customer base of 7.5 million ( For Absa) and 21 million for Capitec (August 2023) respectively.
How long does Nedbank to Capitec transfer take?
Transfer Money From Nedbank To Capitec How Long Does It Take?
Did you make the transfer with the instant and immediate option? Or was it just a normal/standard transfer that you did?
The following points explain them all.
1. Immediate Or Instant Payment Option
A customer of mine using Nedbank once made a payment to my Capitec account and she chose the instant/immediate payment. She screenshots her app to me and it clearly shows that ‘the receiver should wait for about 30 mins for the money to reflect”
However, the money came in just at the 22nd minute!!
Now, this is a real-life experience that I am sharing with you, the onus is the fact that when you are sending money or payment from Nedbank to Capitec and you choose the immediate or instant option, the money reflects within 30 minutes.
In the worst-case scenario, probably owing to network delay or congestion or issues on the part of Capitec, it may extend beyond the 30-minute duration!!
I break down this section below:
- On The App
When you make use of the Nedbank App to Capitec and you enable instant/immediate payment, the money shows within 30 minutes for the receiver.
- Online ( EFT)
On using the online or electronic fund transfer ( EFT) from Nedbank to Capitec, the transfer time is less than 35 minutes as long as the instant or immediate payment option is selected.
- Use of Nedbank Card
For those using the Nedbank card to transfer money usually from the ATM to the Capitec bank account, please note that it takes less than 30 minutes for the money to arrive in the Capitec account provided the instant or immediate option is chosen.
Please note that the transfer time for instant/immediate payment remains less than 30 minutes irrespective of the day it was sent, be it Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, and Sunday!!
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2. Standard Nedbank Payment To Capitec
The question of how long it takes for Nedbank payment to reflect in Capitec mostly comes from people who chose the normal payment method.
Choosing this option causes pain and delay and my advice to anyone who wants to receive or collect money from someone using Nedbank is to tell them again and again that they should use the instant or immediate payment!!
- Use of Nedbank App
The time frame in this instance is 1-2 days; basically within 24 hours. So if you need an urgent issue, using the normal transfer from Nedbank to Capitec is not advisable at all.
- Online ( EFT)
The time frame for an online i.e. EFT payment from Nedbank to Capitec is also 1-2 days ( capping it within 24 hours).
- Use of Nedbank Card
The time frame for this medium is 1-2 days ( within 24 hours). To implement this method, it means you will go to any nearby Nedbank ATM and use your card to make the transfer to the recipient Capitec account.
Nedbank To Capitec Transfer Time On Weekend And Holidays
This is very important and with the plethora of information that has pervaded sane spaces, it saddens the heart that there is still absenteeism of the right information to answer.
- Nedbank App To Capitec: When sent on weekends ( Friday, Saturday, and Sunday), transfer time is less than 30 minutes if the instant / immediate option is chosen.
- Online ( EFT): For weekend transactions, ( Friday, Saturday, Sunday), transfer time is less than 30 minutes if instant or immediate choice is enabled.
- Nedbank card: Within 30 minutes if the instant option is selected.
However, if you chose a standard payment transfer from Nedbank to Capitec on weekends, see below:
- Nedbank App To Capitec: the payment will take approximately 48 – 72 hours
- Online ( EFT): the payment will take approximately 48 – 72 hours
- Nedbank card: Same as above.
Now, for holidays, the payment will be processed the day banks open, except if you choose the immediate or instant payment option.
