FNB working with regulators to crack down on instant EFT services

[Pitbull]

I'm confused, these instant EFT thingies have always been FNB if I use them, I bank with FNB. Or am I missing something? Are there others too, or are these ones disguised to look like it's from your bank?

Never had any issue with it.

 

[elf_lord_ZC5]

Hypocritical buggers ...

 

[Mike Hoxbig]

Out of interest how did they communicate with you? SMS?

Yep SMS. When you log into your app or online banking, it'll be waiting there for you to accept or reject...

 

[Ecko_1]

Then drop the price of your immediate payments but I guess ripping customers off and making boatloads more money is the order of the day.

You need to understand the systems and processes involved in the payments industry around settlement and clearing in order to understand the justification for real time clearing pricing. A lot going on behind the scenes that you don't see.

 

[elf_lord_ZC5]

You need to understand the systems and processes involved in the payments industry around settlement and clearing in order to understand the justification for real time clearing pricing. A lot going on behind the scenes that you don't see.

Bottom line is, if others can make it easier, then so can the banks ... , but then they loose excuses for charging you extra fees. Adapt or die ... , the banks have no exceptions.

 

[supersunbird]

FNB instant EFT - R40 per transfer

Capitec instant EFT - R10 per transfer

I do not even think of it when doing a Capitec one. FNB one is too much and will only use it in a dire emergency.

 

[elf_lord_ZC5]

FNB instant EFT - R40 per transfer

Capitec instant EFT - R10 per transfer

I do not even think of it when doing a Capitec one. FNB one is too much and will only use it in a dire emergency.

Why Capitec is going up and the others going down ...