Quickest way to clear funds

[SlowInternet]

Maybe my topic isnt correct.....I want to pay someone for car a bought from them. I was thinking of doing an EFT but the guy says that it will take a day or 2 to clear in his account because I'm with FNB and he has accounts with Absa and Capitec. What is the quickest way for me to do payment to him ? I DO NOT want to withdraw the cash because the amount is too big. Can my bank do some transfer so that the funds clear immediately in one of his accounts. He is prepared to take a bank guarantee cheque but doesnt that take the same time to clear as a normal cheque ?

 

[Shake&Bake]

Quickest way to clear funds - let me spend it for you. :twisted:

Bank cheque will take the same amount of time - unless in his bank calls yours and asks for it to clear immediately.
Banks don't do it very often - also because they've not seen the cheque yet at their clearing house.
I used to work with cheques and only because I could call staff directly from another bank when I was doing a deal - did I get a cheque to clear immediately on the day in the branch.

Special Clearance is also a joke - takes nearly the same time to clear.

No PayPal for him I take it?

 

[SlowInternet]

Quickest way to clear funds - let me spend it for you. :twisted:

Bank cheque will take the same amount of time - unless in his bank calls yours and asks for it to clear immediately.
Banks don't do it very often - also because they've not seen the cheque yet at their clearing house.
I used to work with cheques and only because I could call staff directly from another bank when I was doing a deal - did I get a cheque to clear immediately on the day in the branch.

Special Clearance is also a joke - takes nearly the same time to clear.

No PayPal for him I take it?

Nope he doesn't have PayPal

 

[VG008]

Not sure if this works....

Pay & Clear Now is a service which costs R38.00 per transaction to have payments from FNB to participating banks cleared within 60 minutes.

https://www.online.fnb.co.za/rhelp0/zob/payments/express_clearing_rules.htm

 

[Carol35]

I've used the pay and clear for fnb a few times for large purchases and pay my domestic every month with it so she has her money right away...it's never taken more than a few minutes to clear.

 

[Boris Becker]

FNB pay and clear its limited to R20k. We tried to use it for car deposit. Ended up paying with a bank guaranteed Cheque. That is the best and safest option

 

[Hosehead]

Tried to pass a Standard Bank Bank issued cheque, their own bank guaranteed cheque at FNB. but all I got was vacant stares. Idiots.

 

[cerebus]

Bank guaranteed cheques are also not going to clear immediately if it's from different banks. We had to wait about 3 days for it to clear when we sold our car. Why can't he just suck it up and wait a couple of days? Is it a trust matter? It's a bit unrealistic to demand instant payment.

 

[OGroteKoning]

Why the haste? Smelling something fishy here ....