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What are the cut off times for EFT's

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vinodhanmoodley
New Contributor
Hi guys

Eft was made on Tuesday at 18:00 to fnb

When will the funds reflect?
marienita
New Contributor

It’s been 48 hours and my transfer between my access account and my homeloan still do not reflect nor does the direct deposit into my home loan reflect. i just logged on to internet banking and both transactions do not reflect.

 

I don’t see how the maximum 24 hour period applies. It’s been 2 days and that is clearly not 24 hours.

It makes no sense that eft’s to other banks reflect almost immediately but deposits and transfers within standard bank take more than 48 hours.

 

This is the 2nd time this has occurred in the 30days that i have opened the account. i opened this account on 3rd May 2016.

StandardBank
Community Coordinator

Hi,

 

There is a 24hr period maximum clearance time for transfers between Standard Bank accounts and payments to other banks may take two to three business days to reflect on the beneficiary's statement. Payments made into a MasterCard account take 24 hours to reflect on a statement.

 

marienita
New Contributor

i made a direct deposit at the teller in the branch at 3pm 1st June then went home to make a transfer from my transactional account to my standard bank  home loan account. i then made 4 external account transfers. today is the 2nd June 11:25pm. the external transfers made reflect on my external bank accounts online banking. however the direct deposit and the transfer between my standard bank accounts do not reflect still. so my questions are:

 

1. How long does it take an internal transfer from a standard bank transactional account into a standard bank homeloan account to reflect? both thses standard bank accounts are linked.

2. How long does it take for a direct deposit at a teller within the standard bank branch into a standard bank homeloan account to reflect?

 

Thanks

StandardBank
Solution
Community Coordinator

Hi

 

As mentioned previously,

 

An EFT payment to another Bank will reflect within 3 days.

An EFT payment to a Standard Bank account will reflect within 24 hours.

 

The above payments need to be made before 7pm.

 

Kind regards,

Standard Bank

 

 

suzaanvanjaarsv
Solution
New Member

Good day

 

I am a new Standard Bank customer, and so far things have not been going to well, after reading this post, I beg to differ. Someone deposited money into my bank account yesterday from another bank and after phoning the bank and Standard bank I was informed that it will only reflect after 3 working days....

 

Today someone deposited money into the same account from another Standard Bank account and I also phoned and they informed me that it would take 2-3 hours, needless to say, the money is still not reflecting in my account...

 

So basically my question now is...What is the correct statement?

 


@douglascorp wrote:
What are the cut off times for EFT's

 

douglascorp
New Contributor