If a transaction was done, via nedbank at 3:30pm to FNB on a Saturday, when will the money reflect into my account.

Ushara Deeplal

New Member
Joined
May 11, 2019
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1
If a transaction was done via nedbank to FNB, on a Saturday at 3:30pm when will the money reflect, as the company stated that they have released the money
 

John_Phoenix

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Joined
Jul 8, 2017
Messages
356
Well SARS is currently actively looking into suspicious activity on your account, so maybe next Tuesday. Bra Tabs had to nip out of the office on maternity leave (his wife just had her 2nd child for the year, a healthy baby boy).

As SARS values your contribution to the national tax base, we're only going to charge you 19.25% to let this transaction slide.

So that R25,000.00, sorry R21,647.34 will reflect in your account shortly.
 

Steamy Tom

Expert Member
Joined
Jan 23, 2019
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2,149
Well SARS is currently actively looking into suspicious activity on your account, so maybe next Tuesday. Bra Tabs had to nip out of the office on maternity leave (his wife just had her 2nd child for the year, a healthy baby boy).

As SARS values your contribution to the national tax base, we're only going to charge you 19.25% to let this transaction slide.

So that R25,000.00, sorry R21,647.34 will reflect in your account shortly.
Do you need a hug bro?
 

3WA

Executive Member
Joined
Sep 25, 2012
Messages
5,840
^ This...but they can transact the kuk out of a Home Loan payment at midnight on New Year's Eve....
I love it when they take their home loan money quickly. Saves me a few rand in interest.
 

Steamy Tom

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Jan 23, 2019
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2,149
I love it when they take their home loan money quickly. Saves me a few rand in interest.
I wish they would allow an option for early payment, i.e pay whenever you want, but if it isn't in the account by say the 28th, then run the normal debit
 

MightyQuin

Honorary Master
Joined
Oct 6, 2010
Messages
13,501
Oh, this is going to be good. Tell us how you think it works.
It works like a home loan with compound interest, not like a Telkom account where they add interest if you pay a week late.

I love it when they take their home loan money quickly. Saves me a few rand in interest.
WTF does that even mean?
 

3WA

Executive Member
Joined
Sep 25, 2012
Messages
5,840
It works like a home loan with compound interest, not like a Telkom account where they add interest if you pay a week late.
What do you think compound interest means? Your interest compounds daily - if your bond installment clears in your home loan account on the 1st instead of the 2nd, you save money.

WTF does that even mean?
Well, since each installment I pay eats about R5k into the capital of my loan, if my installment clears a day earlier, I save around (500/365)= R1.36. A few rands...
 
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