Quickest method for transfering funds FNB to ABSA with same day reflecting?

[airborne]

I'm helping someone sell their car and the buyer was going to do an EFT but now wants to pay cash because he says the payment will take 2 days to clear and he wants the vehicle today, he's happy to pay cash but then cash deposit fees on R30k is around R700, faq that!

Isn't there a faster way to get the funds from FNB into an ABSA acc and reflecting almost immediately, I thought you could pay R35 and do an Express eft from FNB to ABSA via online banking?

What about an FNB bank issued cheque deposited into the ABSA account?
Or doing a counter transfer at the FNB teller with immediate payment to the ABSA account, probably cost a little bit extra?

 

[Sinbad]

Fnb can clear immediately. It's an option on the online banking payment screen.

 

[airborne]

Fnb can clear immediately. It's an option on the online banking payment screen.

That's what I thought, its nothing special, you get charged a R35 fee though?
Do you know what the exact name of that service/feature is, the guy I'm dealing with is perhaps not applying his intellect so I better spoon feed him..

 

[CamiKaze]

It's just a tick box at the bottom of the screen where you select which account you are going to pay from.

 

[Roxi_B4b3]

If it's a once off payment, there is an option called "Pay & Clear?" - select yes



If you are paying a recipient that has been set up, there is a similar option on the table listing all recipients - this is a checkbox

 

[Nick_K]

I believe that the cost is R60 for Pay & Clear Now.

 

[SiR_BP]

I believe that the cost is R60 for Pay & Clear Now.

I paid R40 for a pay and clear last week from FNB to ABSA

 

[Nick_K]

I paid R40 for a pay and clear last week from FNB to ABSA

Might be different fees between business and personal accounts (we get charged R60 on our business account).

 

[airborne]

If it's a once off payment, there is an option called "Pay & Clear?" - select yes

View attachment 364178

If you are paying a recipient that has been set up, there is a similar option on the table listing all recipients - this is a checkbox

Thanks for the pic. This oke is not on the ball, now says he doeasn't have online banking, can you do something similar to "Pay & Clear?" in an FNB branch at the teller?

 

[heartbroken]

Thanks for the pic. This oke is not on the ball, now says he doeasn't have online banking, can you do something similar to "Pay & Clear?" in an FNB branch at the teller?

Are you sure this okie isn't a scammer trying to pull one on you?

 

[XennoX]

Thanks for the pic. This oke is not on the ball, now says he doeasn't have online banking, can you do something similar to "Pay & Clear?" in an FNB branch at the teller?

Are you sure this okie isn't a scammer trying to pull one on you?

Dude is scamming you. Walk away now.

 

[halfmoonforever]

Even with a pay & clear funds of 30k will take 24+ hours to clear. You can tell him EFT, once an EFT (not cheque) shows up and cleared. He can get the car. If he is in dire need of the car, tough cookies

 

[Ho3n3r]

Thanks for the pic. This oke is not on the ball, now says he doeasn't have online banking, can you do something similar to "Pay & Clear?" in an FNB branch at the teller?

Why doesn't he just go to ABSA and deposit there, then?

Dude sounds fishy - I would run if I were you.

 

[halfmoonforever]

Thanks for the pic. This oke is not on the ball, now says he doeasn't have online banking, can you do something similar to "Pay & Clear?" in an FNB branch at the teller?

yes you can, but I think he is trying to scam you

 

[Tman*]

umm, this sounds like a scam.

I sold a car earlier this year, and the deal was cash too.

Its quite simple, I just told the buyer that I take both seller and buyer security very seriously and I want to conclude the transaction in the bank. Went to the bank with him, he made the deposit, boom. Everyone is protected.

 

[SoTrue]

Even with a pay & clear funds of 30k will take 24+ hours to clear. You can tell him EFT, once an EFT (not cheque) shows up and cleared. He can get the car. If he is in dire need of the car, tough cookies

Why do you say this? I did two R350K+ transactions today, one out of Nedbank and one out of FNB, and both cleared within minutes.

 

[Drifter]

Why do you say this? I did two R350K+ transactions today, one out of Nedbank and one out of FNB, and both cleared within minutes.

I think you made a mistake with my bank accnt no. Shall I send it to you again?

 

[airborne]

Why doesn't he just go to ABSA and deposit there, then?

Dude sounds fishy - I would run if I were you.

That's what he wants to do but then R600 odd rand is flushed down the drain in cash deposit fees.
I think he's just a bit of a puzzler, the agreement yesterday was he would do an eft and collect the car when the payment reflects, now I think he's nervous to pay the money over and not be able to drive off with the car immediately. Fair enough I suppose but don't wise up this late in the game, I don't think he's a scammer though but no vehicle will be released until the bucks are reflecting and showing under the available balance of the nominated account.

 

[Ho3n3r]

That's what he wants to do but then R600 odd rand is flushed down the drain in cash deposit fees.
I think he's just a bit of a puzzler, the agreement yesterday was he would do an eft and collect the car when the payment reflects, now I think he's nervous to pay the money over and not be able to drive off with the car immediately. Fair enough I suppose but don't wise up this late in the game, I don't think he's a scammer though but no vehicle will be released until the bucks are reflecting and showing under the available balance of the nominated account.

Yes but he wants to do it at FNB anyway, as the OP stated, and do a 'Pay & Clear'. Not sure why he can't just do it at FNB directly instead.

 

[ScottulusMaximus]

Why do you say this? I did two R350K+ transactions today, one out of Nedbank and one out of FNB, and both cleared within minutes.

There's a delay with "Immediate" Inter-Bank payments if it's a new beneficiary, which it presumably will be in the OP's case. Can't remember the exact limits, below a certain amount it's an hours delay and over it 24 hours, I paid 90k via an immediate EFT and it took about 3/4 hours to reflect.