How long do EFTs take in SA?

[NeverBrokeAgain]

Recently started a business in SA supplying goods to municipalities, SOES etc. Fairly new to this country, and also not very educated so not sure how payment processes work with banks.

If municipality or department pays me on Tuesday 13/07, and sends remittance advice same day, how long should it take before funds reflect in my account?

Some municipalities I’ve dealt previously with do not send remittance advice - they just make payment and at some point it reflects in your account, so one never knows when the payment was actually made.

 

[Crumbl0x]

Usually 2-4 days (barring holidays and weekends which would shift the average to 3-5 days) and same bank EFTs *should* be instant but averages can range from 5 minutes to a day or less. Finally, instant EFTs (from a bank to a different one) hold an average of 20 minutes to a day or less and is paid with a fee ranging from R20 to R80, and reflection varies.

 

[RandomGeek]

If municipality or department pays me on Tuesday 13/07, and sends remittance advice same day, how long should it take before funds reflect in my account?

Should be next business day. Or max 2 business days if the payment was made later in the afternoon

 

[NeverBrokeAgain]

Thanks.