What is an Immediate Payment?
Immediate Payments or Real Time Clearance, is the ability to pay a beneficiary at another bank within 60 seconds. Immediate Payments can only be made between 06:00am to 17:00pm and up to value of R200 000 (R10 000 on the Beta App).
Due to fraud monitoring, we will delay the payment for new beneficiaries, once-off beneficiaries or where the beneficiary banking details have been amended, for 2 hours to give the clients the ability to react to a My Updates message, should a transaction be fraudulent.
How do I make an Immediate Payment?
- Make sure you have the most updated version of the Mobile Banking App,
- Sign on to the Banking App,
- Select Transact,
- Select Pay People,
- Either select Once-off payment, add a beneficiary or select an existing beneficiary,
- Select account number from which payment must be made
- Enter the amount of payment,
- Slide button next to Immediate Payment to Right,
- Confirm payment details.
What is the Fee for an Immediate Payment?
The fee is R50 per transaction.
Will I be charged per transaction?
Yes.
Can I make an immediate payment to any other bank?
Immediate Payments can be made to the following participating banks in South Africa:
- ABSA
- African bank
- Albaraka bank
- Bank of China
- Bidvest Bank
- BNP Paribas
- Capitec
- China Construction Bank
- Citibank
- Discovery Bank
- Finbond Mutual Bank
- FNB
- Habib Overseas bank
- HBZ bank
- HSBC
- Investec
- JP Morgan Chase Bank
- Mercantile Bank
- NedBank
- PostBank
- Sasfin Bank
- Standard Chartered Bank
- State Bank of India
- The SA Bank of Athens
- U Bank
What if I urgently need to make a payment for more than R250,000?
You can make an additional payment to the same beneficiary of the outstanding Amount up to R200 000. You can go into a branch and make an Electronic Interbank Payment (EIP).
Why is there a 2 hour delay?
The delay is there to give you an opportunity to stop fraudulent transactions. To do so, you can call 0800 222050. You will need to identify yourself and confirm transaction details.
Can I reverse / cancel an Immediate Payments if I made an error?
You have an opportunity to check the details before the payment is released. Once details have been confirmed, the payment cannot be stopped, reversed, recalled or canceled.
Why can I not make an Immediate Payment to a Standard Bank account?
All payments to existing Standard Bank beneficiaries are immediate, unless the payment is to a new or once-off beneficiary or the beneficiary banking details have been amended. Then the payment will only reflect on the next business day although value is given for the same day. This is also for fraud prevention.
Why can I not make an Immediate Payment after 17.00?
This is a temporary measure to prevent fraud. This cut-off time is to allow the fraud team to action any unusual transactions. Plans are in place to make the self-service channels even more secure. Once this is done the limitations will be lifted.
What accounts can I make a payment from?
You can make an immediate payment from any transaction or savings account. You cannot make an Immediate Payment from the following account types:
- Credit Card
- Loan account
- Investment account including PureSave
Why is the immediate payment function not available on my SBG Mobile App?
- You may have an old version of the App. Go to the App Store and upgrade your APP or
- The time is after 17.00 or before 08.00 or
- The beneficiary bank is not a participating bank or
- The value of the payment is greater than the Immediate Payment limit.
- You may be trying to make a payment from an invalid account type.
Am I able to make an immediate payment to a/my business account?
You can make an immediate payment to/ from any transaction or savings account. Normal authorisations apply.
My beneficiary has not received my funds, what do I do?
Call us on 0860 123000
I did not receive a message for my payment. Did the funds go through?
Check on your provisional statement if the funds have been deducted from your account. If the funds have not been refunded the transaction the transaction has been successfully processed.
The transaction was reversed however the fee was not reversed.
Raise a Customer 1st query, fees will be reversed within 24hrs.
Customer requires Proof of Payment.
http://intranet.sbic.co.za/Templates/Forms_site/Business_Units/BranchNetwork/FrontlineService s/Immediate_Payment_PoP_form.docx
Customer requires Proof of Payment but I cannot see customer transaction on Customer 1st.
Ensure that you are using the correct BP ID, e.g customer made an immediate payment from his business account, you need to do a search on his personal profile as the Mobile App is linked to customer personal profile.
Payments over 3 days will disappear from Customer 1st. Branch: Log remedy to request transaction report.Voice Branch: Log a BSO query to request transaction report. OSS: complete POP form and mail to customer.
Transaction failed but funds have not been credited back into customer’s account.
Branch: Log remedy to request transaction report.Voice Branch: Log a BSO query to request transaction report. Inform customer that funds will be credited within 24hrs after investigation.
Fees have not been credited into customer’s account due to failed transaction.
Do not do anything. Inform customer that fees will be automatically reversed within 24hrs.
Release/stop button gives an error message on Customer 1st.
Refresh the query. Should problem persist, escalate via BSO or Customer 1st query log.
Customer is denied to make an immediate payment or locked out of The Mobile App.
This is a security feature that will happen when a new Digital ID is registered and or when a device is not registered for The Mobile App. Request customer to try again later to do an immediate.
Why is a customer payment delayed?
Payments for new beneficiaries, once-off beneficiaries or where the beneficiary banking details have been amended, will be delayed for fraud monitoring purposes.
Call to Action: if a customer calls into Voice Branch or walks into Branch, the payment can be released as soon as customer verification is done. Per training given on Network Next.
Is there a daily maximum limit?
Yes, daily limit is R1 000 000. E.g. 5 x R200 000.
