Ever been in desperate need for cash, like now!!! Let us spice it up, you are miles from home and its time for registration and it is closing the next day. What do you do? Panic!? Well, that seems like the logical response but no, you chill and use one of these quick and easy money transfer options.
1. Banking Apps
Smartphones are everywhere so there is no excuse, except that you don’t have one, but that’s not the point. Point is if you have a smartphone you should have a banking app on it. It will make your life easier for you and the sender. This may take a day or so to reflect, so it wouldn’t be advisable to use if you’re in a pinch. This also works better when you’re banking with the same bank as the sender.
The great thing about PayPay is that you can send and receive payments over borders. This is awesome for exchange students and foreign students and to top it of it is available in most African countries.
Instant money transfers take about +-30 minutes so this is perfect for that registration fee that you need now!
You can practically send money to almost anyone with an email address without sharing your financial information with the recipients, which makes for a safe an efficient banking.
But wait for it there’s more, you can also shop around the world if exchange rates aren’t a concern to you like they are to some of us.
3. Grocery/ Retail Stores
With all of these options, there are standard requirements which are, Your ID, a working cellphone to receive your retrieval pin, the amount of cash you want to send and, at least R10 for transfer fees.
All these options are practically instant and easily accessible.
Ackermans – Money can be withdrawn at any ABSA atm and any Shoprite store, but have you seen those lines and honestly that is what you want to avoid.
PEP- Money can be withdrawn at any ABSA atm and at pick n pay stores
Pick n Pay – You will need to have a working smart shopper card, R10 transfer fee
Spar and Checkers – R10 transaction fee.
4. e-Money Sends
These are instant money transfers that most banks have, they go by different names depending on which bank you’re using FNB calls it E-wallet Nedbank calls it iMali. You will need a working cell phone number and the pin from the sender and to withdraw the money from the senders’ bank. These are perfect for when you’re in a pinch
Hopefully, all of this has been helpful, now you can professionally hassle your parents and don’t have to wait for ages for your hard work to pay off.
Written By: Palesa Mosala