Quick Facts

• Standard EFT: 2-3 business days (sometimes up to 5 days)
• Instant Payment: Within 1 hour, costs R7-R10
• PayShap: Within 60 seconds, from free to R6
• Weekends and public holidays don’t count as business days

Understanding Bank Transfer Times

When you need to send money from your Nedbank account to someone with an FNB account, you want to know when they will get it. The time it takes depends on which payment method you choose.

This guide explains all your options. We’ll show you the normal transfer times, the fastest ways to send money, and what it costs. We’ll also help you avoid delays and stay safe from scams.

1. Standard EFT Transfer Times

What is an EFT?

EFT stands for Electronic Funds Transfer. This is the normal way to send money from one bank to another. You don’t need to go to the bank. You can do it from your phone or computer.

How Long Does It Take?

Normal transfer time: 2 to 3 business days

Sometimes it can take up to 5 business days. This is normal and not a problem.

Example: When Will My Money Arrive?

2. Instant Payment Options

If you need money to arrive quickly, both Nedbank and FNB offer instant payment services. These are much faster than normal EFTs.

How Fast Are Instant Payments?

Transfer time: Usually within 1 hour

Some payments arrive within minutes. The money is guaranteed to arrive the same day.

Nedbank Instant Payment

• Available 24/7 – even on weekends and holidays
• Works through the Nedbank Money app
• Also called “Real-Time Clearing”
• Costs extra (see costs section below)

FNB Instant Payment

• Available 24/7
• Works through the FNB Banking App
• Also called “Real-Time Payments”
• Costs R7 per transaction

3. PayShap – The Fastest and Often Cheapest Way

PayShap is South Africa’s newest payment system. It was launched in 2023 to make instant payments easier and cheaper. As of 2025, it has become very popular and affordable.

How Fast is PayShap?

Transfer time: Within 60 seconds

PayShap is the fastest option available. Money arrives in under 1 minute.

What Makes PayShap Special?

• You don’t need bank account numbers: You can send money using just a cellphone number
• It’s often cheaper: Many banks offer lower fees for PayShap than other instant payments
• Works between all major banks: Nedbank, FNB, Capitec, Standard Bank, Absa, and more
• Available 24/7: Works any time, including weekends and holidays

How to Set Up PayShap

PayShap Limits

• Maximum per transaction: R50,000 (as of 2025)
• Daily limit: Check with your bank – varies by account type

4. How Much Does It Cost?

The cost depends on which payment method you choose. Here are the fees as of 2025:

Standard EFT Costs

Instant Payment Costs

PayShap Costs (2025)

Note: Fees may vary based on your account type. Some accounts include free transfers. Check with your bank for your specific fees.

5. What Can Cause Delays?

Sometimes transfers take longer than expected. Here are the common reasons:

Time of Day

• Transfers made after 3pm may only process the next day
• Weekend transfers only start processing on Monday
• Morning transfers have a better chance of same-day processing

Wrong Account Details

• Wrong account number will bounce back (takes 3-5 days)
• Wrong branch code can cause delays
• Always double-check account numbers before sending

Bank System Maintenance

• Banks do system updates, usually late at night
• This can delay processing by a few hours
• Not common, but it does happen

Large Transaction Amounts

• Very large transfers may need extra security checks
• This can add 1-2 days to processing time
• This is to protect you from fraud

Public Holidays

South African public holidays in 2025 that affect transfer times:

• New Year’s Day
• Human Rights Day (21 March)
• Good Friday and Family Day (April)
• Freedom Day (27 April)
• Workers’ Day (1 May)
• Youth Day (16 June)
• National Women’s Day (9 August)
• Heritage Day (24 September)
• Day of Reconciliation (16 December)
• Christmas Day and Day of Goodwill (25-26 December)

6. How to Make a Transfer

From Nedbank to FNB (Using Nedbank Money App)

1. Open the Nedbank Money app on your phone
2. Log in with your username and password
3. Select “Transact” from the main menu
4. Choose “Pay”
5. Select payment type:
   • “Once-off payment” for a new person
   • “Pay beneficiary” if you’ve sent money to them before
6. Enter the FNB account details:
   • Account holder’s name
   • FNB account number
   • Branch code: 250655 (FNB universal branch code)
7. Enter the amount you want to send
8. Choose your payment type:
   • “Normal payment” for standard EFT (2-3 days)
   • “Instant payment” if you need it to arrive today
   • “PayShap” for fastest delivery (within 60 seconds)
9. Add a reference (optional but helpful)
10. Review all details carefully
11. Confirm the payment
12. Enter your PIN or use fingerprint to approve

From FNB to Nedbank (Using FNB Banking App)

1. Open the FNB Banking App
2. Log in
3. Select “Pay”
4. Choose “Once-off payment” or select an existing beneficiary
5. Enter Nedbank account details:
   • Account holder’s name
   • Nedbank account number
   • Nedbank branch code (ask the account holder)
6. Enter the amount
7. Select payment method:
   • “EFT” for normal transfer
   • “Instant Payment” for same-day arrival
   • “PayShap” for fastest option
8. Review and confirm
9. Approve with your PIN or biometrics

What You Need

• The person’s full name
• Their bank account number
• Their bank branch code
• FNB universal branch code: 250655

7. Avoiding Scams and Staying Safe

Banking scams in South Africa increased by 86% in 2024, with losses exceeding R1.8 billion. Protect yourself by knowing the warning signs.

Common Scams to Watch For

Safety Rules – Remember These Always

If You Think You’ve Been Scammed

1. Contact your bank immediately
   • Nedbank: 0860 555 111
   • FNB: 087 575 9404
2. Ask them to freeze your account
3. Report to the police – get a case number
4. Report to SABRIC (South African Banking Risk Information Centre)
5. Change all your passwords

For Normal Payments (Not Urgent)

Use: Standard EFT

• Cheapest option (R2.20 or free)
• Takes 2-3 business days
• Perfect for monthly bills, rent, regular payments
• Remember to plan ahead for weekends and holidays

For Quick Payments (Need It Today)

Use: PayShap

• Fastest option – arrives in 60 seconds
• Often cheaper than other instant options (R1-R6)
• Works with just a cellphone number
• Perfect for emergencies, last-minute bills, helping family

For Small Amounts Under R100

Use: FNB PayShap

• Completely FREE for amounts under R100
• Arrives in 60 seconds
• Great for splitting bills, buying lunch, small favours

Safety First – Always

• Verify account details by calling the person directly
• Never share your PIN, password, or OTP
• Be suspicious of urgent requests to transfer money
• If it feels wrong, stop and check first
• Use the official bank apps, never click links in messages