In short: South African bank transfers do not all use the same rail. The Payments Association of South Africa (PASA) describes three electronic credit systems people meet most often: EFT credit, Real-Time Clearing (RTC), and Rapid Payment / PayShap. EFT is batched and is not instant. RTC is cleared within 60 seconds. Credit payments are final and irrevocable once they have gone. Your bank can still apply a lower limit or a slower product than the scheme maximum. Not financial advice.
Sources: PASA — Credit Payments.
The three rails people mix up
PASA splits electronic credit into low-value and high-value systems at R5 million. That figure is a settlement-risk boundary with high-value SAMOS settlement — not a promise that your app will let you send R5 million, and not a “maximum EFT” for every pending payment.
EFT credit
You instruct your own bank to pay. PASA says successful EFT instructions typically show later that day or a day or two later. They are processed in batches and “are not instantaneous”. Settlement follows same day, one day, or two days. Check the beneficiary account number before you confirm.
RTC (often sold as immediate / instant)
PASA: cleared within 60 seconds, funds available in the receiver’s account. Irrevocable. Published RTC maximum R5 million on weekdays after midnight until 16:00, excluding public holidays; R250 000 on weeknights, weekends and public holidays. Individual banks may set lower limits.
PayShap / Rapid Payment
PASA describes PayShap (March 2023) as a real-time credit using account details or a proxy such as a mobile number (ShapID). Request to Pay followed later. Confirm 24/7 availability, fees and limits with your participating bank before you pay.
Credit push is irrevocable
PASA states that a credit payment is final and irrevocable. Wrong-pay steps belong with your bank — not with a universal reverse button on this page.
Weekends and public holidays
Weekends and public holidays change some rails more than others. RTC’s overnight and weekend cap is on PASA’s page. Standard EFTs often wait for the next business processing window. Dedicated walk-through: weekend banking transfer times.
What “how long will it take?” can honestly mean
Ask which rail you used, not only which logo is on the app. Instant, immediate or PayShap is not the same product as a scheduled EFT. Read the type your bank printed on the transaction.
PASA’s credit-payments page does not publish a full per-bank fee table or every bank-pair clock. For bank-pair examples, see Absa to Capitec and Standard Bank to Capitec.
If money has not arrived
- Check the official sending channel. Keep the reference, amount, date and beneficiary account.
- Do not treat a WhatsApp “proof of payment” as confirmation that the receiving bank has the funds.
- If it was an EFT, PASA allows later the same day or the next one or two days — that alone is not a lost payment.
- If it was RTC and more than a minute has passed, use your bank’s official support route.
- Do not give an OTP, PIN or password to anyone offering to “release” or “trace” the transfer.
Pending walk-through: how to track a pending EFT. If still stuck: money sent but not received.
Last checked: September 2026 against PASA Credit Payments. Product names, limits and cut-offs can change. Confirm in your bank before you send. Not financial advice.