The average base transfer time from Capitec to standard bank is approximately less than 1 hour if the immediate payment option is implemented and if its not done on weekends or public holiday.
Otherwise, it can take anytime within 72 hours ( i.e. 3 days) if normal transfer is done assuming all protocols are observed.
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Topics to be covered includes:
- EFT payment duration from Capitec to Standard bank
- Transfer time when you used your Capitec App
- The amount and fees involved from Capitec to Standard bank payment/transfer
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Capitec To Standard Bank Transfer Time
The following are detailed explanation on the various transfer times between Capitec and Standard bank; though some of it aligns the same with that of Capitec transfer to FNB and for FNB to Capitec transfer times.
1. Money Sent From Capitec To Standard Bank On Immediate Payment
Definitely, the immediate payment incurs cost as opposed to the normal fee: The breakdown are as follows:
- When you use Capitec banking App
It cost R7.50 to send payment from Capitec to standard bank on the immediate method using your App. The recipient of the standard bank account for the EFT transfer or payment gets it within 1 hour when done anytime of the day.
- When you use Capitec EFT ( Online or Internet)
When you login to your Capitec online banking portal or platform and initiate immediate payment from Capitec to standard bank, the service charge is R7.50 and it takes less than 1 hour to show or reflect in the standard bank account.
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And,
- When you use your Capitec Card
By going to an ATM and initiating payment from your Capitec account using your card to a standard bank account, the EFT payment goes through within 1 hour when you chose the immediate or instant payment option.
The cost for this is R7.50!!
- When you use your Capitec Cellphone banking
The use of Capitec USSD to initiate payment transfer is faster and quicker, however, the same service fee of R7.50 still applies.
The transfer time to Standard bank is also less than 1 hour if you enable the instant or immediate payment transfer.
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2. Money Sent From Capitec To Standard Bank Without Instant / Immediate Payment Options
An average South African individual sends money from Capitec to standard bank normally i.e. without the immediate or instant payment option.
I run business and one of the things I tell my customers if they want to pay me is that they should make it instant payment, so sometimes unless you tell the sender to make it instant payment, there is every likelihood that the payment will be the normal mode.
The implication to this is that it takes between 24 – 72 hours for the money to actually show/reflect in the recipient standard bank account.
The following are briefs of the Capitec to Standard bank transfer time based on how you made the EFT payment:
- When you Use Capitec banking App
Time you sent it plays a huge role here. When you make payment to standard bank from your App anytime before 4 pm, the money shows in the standard bank account within 24 to 36 hours.
When you make payment anytime after 4 pm, it takes approximately 72 hours ( an average of 3 days) for the payment to reflect in the standard bank account of the recipient.
The service fee or cost is R2!!
- When you use Capitec EFT ( Online or Internet)
The same concept applies here and it cost R2 service fee. When you use your online banking platform to make payment from Capitec to Standard bank account before 4pm, customer gets the money in their account within 24-36 hours.
Anytime after 4pm, it takes approximately 72 hours.
- When you use your Capitec Cellphone banking
Service fee of R2 applies and depending on the time of the day that you initiated the payment using your cellphone banking USSD code, the receiver of the standard bank may get within 24-36 hours ( before 4pm) and up to 3 days ( after 4pm).
- When you use Capitec SST to Make Payment to Standard Bank
The use of Capitec stand alone self service terminal inside the banking hall cost R5 to send payment to Standard bank.
Now, per the transfer time, it takes less than 36 hours if payment is done before 4pm and up to nearly 3 days if transfer is done after 4pm.
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How Long It Takes To Transfer Money From Capitec To Standard Bank During the Weekends and Holidays?
These are the answers:
- Using Capitec App: An average of 1 hour when instant or immediate payment options is selected for weekends of holiday transfers.
- Internet banking: For EFT using your online banking, it is approximately 1 hour for payment sent from Capitec to Standard bank accounts to show on weekends and holidays ( if instant payment option is chosen)
- When you use your Capitec Card: it is roughly 1 hour when you select immediate payment, this applies also to weekends and holidays
- Cellphone payment transfer: Same as above
Now, if you did not select immediate or instant payment option for the weekends or holidays, no matter how you sent it using the 4 options above, it will be processed starting from Monday. This literally means it may take more than 3 days depending when you sent it e.g. Friday, Saturday or Sunday.