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What are the cut off times for EFT's

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New Contributor

What are the cut off times for EFT's

What are the cut off times for EFT's
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Community Coordinator

Re: What are the cut off times for EFT's

Hi, an EFT payment can be made at anytime. The date when the payment would reflect in the payment receiver's account is what would determine when a payment should be made. Payments would need to be made as follows:

 

1. Before 7pm if the payment receiver is a newly added beneficiary (Payment should reflect with 24-72 hours with All banks).

 

2. Anytime if the payment is made to a regular beneficiary (Standard Bank to Standard Bank payments reflect immediately, but for other banks within 24 hours).

 

Hope the above addresses your request.

New Member

Re: What are the cut off times for EFT's

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

 

Community Coordinator

Re: What are the cut off times for EFT's

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

 

 

New Contributor

Re: What are the cut off times for EFT's deposits and interbank transfers (transfers between account

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

Community Coordinator

Re: What are the cut off times for EFT's deposits and interbank transfers (transfers between account

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.

 

New Contributor

Re: What are the cut off times for EFT's

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.

New Contributor

Re: What are the cut off times for EFT's

Hi guys

Eft was made on Tuesday at 18:00 to fnb

When will the funds reflect?
New Member

Re: What are the cut off times for EFT's

Hi Guys 

 

One of my clients paid into my FNB account from his SB Business account at 16:16 yesterday afternoon for goods delivered to him, when will this payment reflect ? 

If the answers it that copy and paste 2-3 business days answer, please let me know if it is possible to get this payment cleared earlier like now ! 

I need this payment to buy stock and deliver to another client so my whole business is now on hold because of SB  

 

BTW I was forced to close my SB Business for this reason 

Community Coordinator

Re: What are the cut off times for EFT's

Hi, unfortunately, it takes 2-3 working days for the money to reflect in your account. To make this process fast, the sender will have to visit their nearest branch to request an immediate cleareance of funds.