How to Transfer Money from Nedbank to Capitec

If you want to know how to transfer money from Nedbank to Capitec, ensure you read this article to the end.

We all know that Nedbank and Capitec are two massive financial behemoths in the South African banking industry whose daily inter-banking transactions soar into the millions.

This is especially because of their combined enormous customer base, which stands at 7.5 million for Absa and 21 million for Capitec (as of August 2023) respectively.

Using the Nedbank Money app and other alternatives we will unveil in this article, makes the process of transferring money from Nedbank to Capitec very easy.

In this article, we’ll guide you through the steps to make a transfer from Nedbank to Capitec which guarantees a simple and easy money transfer.

How to Transfer Standard Nedbank Payment To Capitec
How Long Does It Take to Transfer Money from Nedbank to Capitec ?
- Immediate Or Instant Payment Option
Nedbank To Capitec Transfer Time On Weekend And Holidays
FAQs
Conclusion
Reference
Recommendations

How to Transfer Standard Nedbank Payment To Capitec

The following are the various methods you can use to transfer money from Nedbank to Capitec.

#1. Use of Nedbank App

To transfer a payment from your Nedbank account to a Capitec account using the Nedbank app, follow these steps:

Open the Nedbank app and log in.
Choose “payments” from the main screen
Select “Once-off payment” after selecting “Make a payment.”
Enter the Capitec account number and the beneficiary’s details.
Indicate the amount you wish to transfer.
Verify the payment details to make sure they are correct.
Use the specified authentication method or your PIN to confirm the payment.
Following the payment’s processing, you’ll get a confirmation message.

This time duration is 1-2 days, or basically within 24 hours. It is therefore not suggested at all to use normal Nedbank to Capitec transfer if you have an urgent emergency.

#2. Use of Online (EFT)

To use Online EFT to move funds from your Nedbank account to a Capitec account, take the following steps:

Open Nedbank Online Banking and log in.
Select “Payments” from the drop-down menu.
Choose “Pay someone new” or pick a pre-existing recipient.
Enter the beneficiary’s name and account number in the Capitec account details.
Indicate how much you wish to transfer.
Examine the payment information thoroughly.
By entering your security code or OTP, you can confirm the payment.
The money will be completed as soon as it is verified, and you will get a confirmation message.

Meanwhile, don’t forget that EFT payments to Capitec have a 1-2 day time limit (limited to 24 hours) for online transactions.

#3. Use of Nedbank Card

The duration for this medium has a 1-2 day time glance (within 24 hours). In order to use this approach, you must visit any Nedbank ATM in the area and use your card to transfer funds to the recipient’s Capitec account. Follow these steps to guide you through:

Go to an ATM operated by Nedbank or sign into Nedbank Online Banking.
Use the ATM to withdraw cash with your Nedbank card, or log in online.
Select “Transfer funds” or “Payments.”
Choose “Pay someone new” and provide the information for the Capitec account.
Enter the desired transfer amount.
Review the payment details to ensure they are correct.
Confirm the payment by entering your PIN or OTP.
Your payment will be processed, and you’ll receive a confirmation.

How Long Does It Take to Transfer Money from Nedbank to Capitec?

Most users who choose the standard payment option ask how long it takes for a Nedbank payment to appear in Capitec. Selecting this choice is painful and time-consuming.

If you wish to give money to someone using Nedbank or receive money from them, always remind them to select the instant or immediate payment option!

Immediate Or Instant Payment Option

There was an instance where a customer transfer money using Capitec and she chose the instant/immediate payment. The screenshot of the payment sent to the receiver clearly shows that ‘the receiver should wait for about 30 minutes for the money to reflect.”

However, the money came in just after 20 minutes!!! This happens too when you transfer money from Nedbank to Capitec.

This is a true story we are sharing with you, and the key takeaway is that if you select the immediate or instant option when sending money from Nedbank to Capitec, it will reflect in your account within 30 minutes.

We go into more detail about this part below.

On The App

The money appears for the recipient within 30 minutes when you use the Nedbank App to Capitec and activate instant or immediate payment.

Online (EFT)

If the instant or immediate payment option is chosen, the online or electronic fund transfer (EFT) from Nedbank to Capitec will take less than 35 minutes to complete.

Use of Nedbank Card

If you usually use your Nedbank card to transfer money from an ATM to your Capitec bank account, be mindful that, if you select the instant or immediate option, it will take less than 30 minutes for the money to reach your Capitec account.

Please note that regardless of the day the money was sent—Monday, Tuesday, Wednesday, Thursday, Friday, Saturday, or Sunday—the transfer time for instant/immediate payment is still less than 30 minutes!

Nedbank To Capitec Transfer Time On Weekend And Holidays

Although the transfer process from Nedbank to Capitec typically takes more than two days, it is simple. It’s important to consider the related costs and select the method that best suits your demands for the move.

Nedbank App To Capitec: If the instant or immediate option is selected, the transfer time when sent on weekends (Friday, Saturday, and Sunday) is shorter than 30 minutes.

Online (EFT): If the instant or immediate option is enabled, transfer times for transactions made on Friday, Saturday, and Sunday are fewer than 30 minutes.

Nedbank card: If you choose the instant option, it will arrive in 30 minutes. But if, on weekends, you opted for a regular Nedbank to Capitec payment transfer, have a look at this:

The payment from the Nedbank App to Capitec would take between 48 to 72 hours.

Also, the Nedbank student loan is also there for you to apply for within a few hours it will be processed and transferred into your Capitec account

Now, for holidays, the payment will be processed the day banks open, except if you choose the immediate or instant payment option.

FAQs

How do I use USSD for Nedbank

You can use USSD by dialing *120*001# from your cellphone.

Is Nedbank Quick Pay immediate?

Yes, it is, Because it’s quick, simple, and convenient! Payments to other banks are cleared in under 30 minutes, and for your absolute convenience, the service is available at any time of day including weekends and public holidays.

What is the instant transfer limit for Nedbank

The instant transfer limit for Nedbank is R10 000 a day.

What is the code for Nedbank in South Africa

The universal branch code for Nedbank in South Africa is 198765.

Can Nedbank reverse a payment?

No, you cannot cancel or reverse instant payments. Be sure to enter the correct account name and number before you make the payment.

Conclusion

To transfer money from Nedbank to Capitec and take advantage of the Nedbank transfer’s efficiency, follow the detailed procedures in this article.

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Reference

Mamzanzi.com — Nedbank To Capitec Transfer Time ( Transfer Money From Nedbank To Capitec How Long Does It Take Including Weekend )
elidge.com — How to Transfer Money from Nedbank to Capitec Bank: A Comprehensive Guide