Knowing how to move money from First National Bank (FNB) to Capitec Bank and the related deadlines is crucial. This blog article attempts to give a thorough rundown of the FNB to Capitec transfer time, including the cut-off and clearance timeframes as well as any pertinent details that might affect the transfer procedure.
Final Hours
Depending on the day of the week, different FNB to Capitec transfer cut-off hours apply. Transfers between FNB and Capitec are closed at 16:45 on Mondays through Fridays. Transfers started beyond this hour will thus be handled the next working day. 10:15 is the cut-off hour on Saturdays; transfers are not handled on Sundays or public holidays until the next working day.
FNB to Capitec Transfer Time
EFT Payments: Processing EFT payments from FNB to Capitec often takes 12 to 24 hours. Transfers started after Monday through Saturday at 20:00 will be handled the next working day. Processing of transfers completed on Sundays and public holidays will also take place the next working day.
Pay & Clear Now Service: Usually clearing in 60 minutes, the Pay & Clear Now service is accessible for transfers made via Online Banking, the Banking App, FNB Branches, and certain Service Suites. This might change, though, based on the bank of the beneficiary.
Cut-off Times: FNB to Capitec transfers are closed at 10:15 on Saturdays and 20:00 on Mondays through Saturdays. Transfers started after these hours will be handled the following working day.
Clearing timeframes: Transfers from FNB to Capitec may take different timeframes to clear. FNB to other banks transactions, for instance, may take up to two business days to settle, whereas FNB to FNB transfers usually take up to 12 hours.
International transactions to Capitec Bank usually take around half an hour to credit the account following approval.
Pay & Clear Now Service
Faster clearing times are made possible by the Pay & Clear Now service provided by FNB. Transfers done through FNB branches, the Banking App, Online Banking, and a few chosen Service Suites are eligible for this facility. Although it is offered around-the-clock, seven days a week, the Pay & Clear Now service has restrictions and deadlines. Though this may change based on the recipient’s bank, Pay & Clear Now transfers usually clear in 60 minutes.
Paying by EFT
Transferring money from FNB to Capitec can also be done using Electronic Funds Transfer (EFT). Though there are cut-off hours, EFT payments are accepted around-the-clock. Though this may change based on the recipient’s bank, EFT payments usually settle in two business days.
Factors Affecting Transfer Time
Several factors can impact the FNB to Capitec transfer time. These include the cut-off times, clearing times, and any issues with the recipient’s bank. It is essential to consider these factors when initiating a transfer to ensure that the funds are received on time.
FNB to Capitec Transfer Time
The day of the week affects also the clearance timeframes for FNB to Capitec transfers. Monday through Friday FNB to FNB transactions usually clear in up to 12 hours, however FNB to other banks may take up to 2 working days. Saturday transfers between FNBs may take up to 12 hours to settle, while transfers between FNBs and other banks might take up to 2 working days. Transfers are handled the next business day on Sundays and public holidays.
See also: ABSA to FNB transfer time
FNB to Capitec Transfer Fees
Moving money from First National Bank (FNB) to Capitec Bank has costs. You may run into the following fees:
Immediate Payment Fee: Usually approximately R50, FNB levies a fee for quick transfers to other bank accounts.
Digital Transfer cost: Capitec Bank levies an R2.00 cost for digital transfers to other South African bank accounts.
Quick Payment to Other Bank: Capitec Bank levies an R6.50 fee for quick payments to other South African bank accounts.
Free electronic transfers are available from FNB up to R2,000. Over R2,000, the charge is R1.20 per R100.
Withdrawal Fees: FNB levies R2.30 per R100 for sums up to R2,000 and R2.40 per R100 for amounts beyond R2,000 for both native and POS transactions.Conclusion
In conclusion to FNB to Capitec transfer time depends on various factors, comprising the transfer type, clearance times, and cut-off timings. People may better plan and handle their transfers to guarantee that their money is received on time by knowing these elements.
