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

Turns out the guy was legit but had recently been ripped by a scammer, got a friend with Absa account to do the transfer and done and dusted.
 
ScottulusMaximus said:
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.
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Makes sense, that's something to keep in mind.
 
airborne said:
Turns out the guy was legit but had recently been ripped by a scammer, got a friend with Absa account to do the transfer and done and dusted.
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So too super cautious.

I hope you don't get a surprise in seven days.

Now remember to go give in your forms within 21 days. You did get him to sign the forms and give his ID right? RIGHT?
 
halfmoonforever said:
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
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Not true
 
SauRoNZA said:
So too super cautious.

I hope you don't get a surprise in seven days.

Now remember to go give in your forms within 21 days. You did get him to sign the forms and give his ID right? RIGHT?
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Sms pop was received and the seller went to their banks atm to confirm the funds were reflecting in the available balance.

Got the forms signed and copy of the buyers id.
ScottulusMaximus said:
Hmmmmmm, as soon as I hear the words "my friend will do a payment", I turn and bolt.
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Neither looked or behaved even vaguely like scammers. They didn't try any coercion or bs which scammers will do in the process to ensure things happen in the way that facilitates the scam.
 
Sinbad said:
Fnb can clear immediately. It's an option on the online banking payment screen.
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Forgot to mention this earlier, I confirmed with FNB that the fast pay/immediate clearing option is also available in branch at the tellers, you just have to ask and pay the extra fee.

Tman* said:
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.
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How much cash deposit fees did you pay?

Personally I've got better things to spend R500+ on than hand it over to the bank that I already pay over R2k a yr in fees as it is, like a nice bottle of whisky!!
 
airborne said:
Forgot to mention this earlier, I confirmed with FNB that the fast pay/immediate clearing option is also available in branch at the tellers, you just have to ask and pay the extra fee.



How much cash deposit fees did you pay?

Personally I've got better things to spend R500+ on than hand it over to the bank that I already pay over R2k a yr in fees as it is, like a nice bottle of whisky!!
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You are missing the point. I'll happily pay R500 for peace of mind. Yes, it's a lot, but I'll pay it with a smile on my face to know that the deal is successfully concluded...
 
Tman* said:
You are missing the point. I'll happily pay R500 for peace of mind. Yes, it's a lot, but I'll pay it with a smile on my face to know that the deal is successfully concluded...
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Well if my bank is happy that the money is reflecting then I'm happy, that's the way business works, being stupid paranoid will positively make the world as we know it grind to a halt. Businesses count on banks to confirm eft funds received for sums significantly higher than the price of a car.

The scammers catch the ignorant, fake pop sms/email etc, you can't fake the available balance in a bank account via the banks official channels.
 
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