Without a doubt, retail stores are changing the way people bank in South Africa.
Shoprite recently introduced the in-store cash deposit to make banking easy for customers.
For your safety and convenience, you could now deposit cash at Shoprite and Checkers stores nationwide.
Let’s dive right in.
How it Works
With a lot of reported criminal activities that happen at ATMs, retail stores became the most trusted places to do banking in South Africa.
Shoprite allows you to deposit cash directly into your personal bank account at a flat-affordable rate of R19.95 per transaction.
Daily, you can deposit an amount up to R3,000.00 while doing shopping.
The best part?
You can deposit money sent to you via the Shoprite money transfer straight into your bank account instantly.
Please follow these easy steps to deposit your money at Shoprite:
- Present your Visa or MasterCard card at any till point.
- Submit the cash you want to deposit to the cashier.
- Enter your banking PIN and wait for your transaction to be processed.
- Once done, you’ll get a notification instantly on your phone.
That’s how easily you can now deposit money into your bank account.
Lastly and for now, you can deposit money into these major banks in South Africa:
- Nedbank
- FNB
- Investec
- Standard Bank
- African Bank
- Tyme Bank
- Discovery Bank
- Bidvest Bank
- Sasfin
- Grobank
Why Deposit Money At Shoprite?
There are a couple of benefits the Shoprite cash deposit service has to offer to customers.
1. Security
Banks are becoming more innovative with their services and started automating a lot of banking processes.
This became a problem for many bankers because of card fraud and ATM scams, while at the same time losing their hard-earned money.
So customers started trusting retail stores such as Shoprite for doing the basic banking.
You’ll get a face-to-face assistant from trained and friendly cashiers at Shoprite to deposit your money.
Security is the number one priority with the Shoprite cash deposit for your peace of mind.
2. Convenience
Depositing money at till points offers the most convenient and peaceful way of banking.
The same way you trust Shoprite money market with cash withdrawals, this new service protects your money, no matter what.
3. Costs
While the R19.95 cash deposit fee may seem like a lot but it’s actually cheaper because there’s less risk transacting at Shoprite.
Compare to ATM cash deposits, major banks offer this free of charge, depending on the amount you want to deposit.
But because you’re guaranteed security with the Shoprite cash deposit, then flat-rate fee becomes more valuable and cheaper. While at the same time you (the customer) get to keep their money without potential fraud and scams.