Nedbank Send Money: Benefits & Fees
The Nedbank Send Money is an ewallet service that allows bankers to transfer money faster and safer.
Nedbank offers unique benefits with their send money service.
So, if you're familiar with how ewallet banking works in South Africa, then you're going to love banking with Nedbank.
Let's dive right in.
The Nedbank Send Money Benefits
You'll be able to send money to friends and family via the Nedbank account. And your friends don't need to have a Nedbank account, the money will be transferred directly into their cellphone number.
You can send cash up to R2,500.00 per day at the best affordable fee, anytime. It'll only cost you R10.00 for sending any amount up to R1,000.00 per transaction and R14.00 for amounts from R1,001.00 to R2,500.00 per transaction per day.
The best part?
Your family and friends will have instant access to the money and can withdraw for free at any Nedbank ATM, anytime.
When you left your Nedbank card at home, you could still send money to yourself for instant access to cash.
The recipient of the transaction have up to 7 days to withdraw the money, otherwise, it'll be returned to the sender's banking account.
As indicated, the recipient can withdraw cash from the ATM free of charge and spend the money however they feel.
Where to find The Nedbank Send Money
Nedbank account holders have 3 easy options to use the send money service.
They can use the:
- Money App (Mobile App)
- USSD *120*001#
- Internet Banking
## How To Send Via USSD
The USSD service is the most popular and quickest way of transferring cash via the Nedbank send money facility.
- Login to your Nedbank cellphone banking and on the menu.
- Then, select option 6 for money transfers.
- Choose option 1 for Send-iMali and accept the terms and conditions.
- Select the account you want to send money from.
- In the next step, choose option 2 for sending to another phone.
- Enter the cellphone number of the recipient.
- Enter the amount you want to send up to R2,500.00.
- Confirm the transaction details and you'll be presented with a reference number of the payment.
The recipient will also receive a confirmation SMS with the withdrawal details.
How To Reverse The Nedbank Send Money Payment
Always double-check and confirm the cellphone number of the recipient before sending. It's always difficult to reverse ewallet payments sent via the Nedbank send money facility.
Nedbank doesn't verify the recipient's cellphone number, it's your responsibility to send it to the correct number.
Unfortunately, Nedbank can't help with the reversal of the amount if transferred to the wrong number.
If you have any questions, call 0860 555 111 and speak to a consultant with the relevant information you may need urgently.
Alternatively, visit www.nedbank.co.za and read more.