Quick Facts

• Standard EFT takes 1-2 business days and is FREE
• Immediate payment arrives within minutes for R7.50 to R40
• PayShap instant transfers are free for amounts under R100

Understanding Payment Methods

When you need to send money from ABSA to Capitec, you have three main options. Each one works differently and takes different amounts of time.

The time your money takes to arrive depends on which method you choose. You need to pick the right one for your situation.

Think about how urgent your payment is. Also think about how much you can afford to pay in fees. This guide helps you understand all your options.

✅ Standard EFT Transfer

How long it takes: 1 to 2 business days

Cost: FREE on all ABSA accounts

What is a Standard EFT?

EFT stands for Electronic Funds Transfer. This is the normal way banks send money to each other. It is free but takes longer than other methods.

When to Use Standard EFT

• When you are not in a hurry
• When you want to avoid paying fees
• For regular monthly payments like rent
• For large amounts where you save on fees

⚡ Immediate Payment (Real-Time Clearance)

How long it takes: Within 60 minutes (usually under 10 minutes)

Cost: R7.50 for amounts up to R3,000 | R40 for amounts over R3,000

What is Immediate Payment?

This is ABSA’s fast payment option. Your money moves through a special system that works right away. The money usually arrives in the Capitec account within minutes.

When to Use Immediate Payment

• When someone needs money urgently
• For emergency situations
• When paying for something today
• When the small fee is worth the speed

Important to Know

Immediate payments work 24 hours a day, 7 days a week. This includes weekends and public holidays. Once you send the money, you cannot cancel it.

🚀 PayShap Instant Transfer

How long it takes: Within 10 seconds

Cost: FREE for amounts under R100 (with ShapID) | Small fee for larger amounts

What is PayShap?

PayShap is South Africa’s new instant payment system. It works between all major banks including ABSA and Capitec. You can send money using just a phone number.

How PayShap Works

Both you and the person receiving money must have a ShapID. A ShapID is your phone number linked to your bank account. You can set this up in your banking app.

PayShap Limits

• ABSA Banking App: Up to R3,000 per transaction
• ABSA Online: Up to R3,000 per transaction
• Cellphone Banking: Up to R2,000 per transaction
• Daily limit: Up to R50,000 across all payments

⏰ What Affects Transfer Speed?

Time of Day

ABSA has a cut-off time of 3:30 PM for standard EFTs. Transfers made after this time start processing the next business day. Immediate payments and PayShap work any time.

Weekends and Public Holidays

Standard EFTs only process on business days. If you send money on Friday evening, it might only arrive on Tuesday (after the weekend and Monday processing). Immediate payments and PayShap work even on weekends.

Bank Processing Times

Both ABSA and Capitec need time to process payments. Standard EFTs go through the BankServAfrica system. This system batches all the transfers together and processes them once or twice a day.

System Maintenance

Sometimes banks do maintenance on their systems. This can cause small delays. Banks usually tell customers when maintenance is planned. These delays are rare.

💰 Complete Fee Breakdown

Note: Fees are correct as of October 2025 and include VAT. Always check your ABSA account type for specific fees that may apply to your account.

📱 How to Make Your Transfer

Using ABSA Banking App (Recommended)

1. Open your ABSA Banking App
2. Log in using your password or fingerprint
3. Tap on “Payments” or “Pay”
4. Select “Make a Payment” or “New Payment”
5. Choose the account you want to pay from
6. Enter the Capitec account details (or select saved beneficiary)
7. Enter the amount you want to send
8. Choose your payment type: Standard EFT, Immediate Payment, or PayShap
9. Check all details carefully
10. Confirm the payment

Important Details You Need

• Capitec Bank Code: 470010
• Account holder’s full name: Must match the account exactly
• Account number: The Capitec account number
• Reference: Something to help you remember what the payment is for

🚨 Stay Safe: Avoid Scams

Common Payment Scams to Watch For

Fake Banking Messages

Criminals send SMS or WhatsApp messages that look like they come from ABSA. These messages ask you to click links or call fake numbers. ABSA will never ask for your PIN, password, or OTP via SMS.

Fake Police or Bank Officials

Scammers phone and pretend to be from the police or ABSA fraud department. They say your account has a problem. They ask you to move money to a “safe account”. This is always a scam. No real bank or police officer will ever ask this.

Wrong Account Details

Some scammers give you the wrong account details for payments. Always double-check account numbers. Use PayShap when possible because it shows you the account holder’s name before you pay.

How to Protect Yourself

• Never share your PIN, password, or OTP with anyone
• ABSA will never ask for your full banking details via phone or SMS
• Check the recipient’s name before confirming any payment
• Save beneficiaries only after verifying their details
• If something feels wrong, stop and call ABSA directly on 0860 002 722
• Never download apps from SMS links – only use official app stores
• Report suspicious messages to your bank immediately

If You Think You’ve Been Scammed

1. Contact ABSA immediately on 0860 002 722
2. Report to the South African Police Service (SAPS)
3. Report to SABRIC (South African Banking Risk Information Centre)
4. Contact Capitec if the scam involved receiving money

Which Method Should You Choose?

Choose Standard EFT When:

• You can wait 1-2 days for the money to arrive
• You want to avoid paying any fees
• You’re sending large amounts and want to save money
• It’s a regular payment like rent or loan repayment

Choose Immediate Payment When:

• Someone needs the money urgently today
• You’re paying for something that cannot wait
• It’s an emergency situation
• The amount is large enough that the R40 fee is worth it

Choose PayShap When:

• You need instant transfer at lower cost
• You’re sending smaller amounts regularly
• Both you and the recipient have ShapID set up
• You want to see the recipient’s name before paying
• The amount is under R3,000

❓ Common Problems and Solutions

Money Hasn’t Arrived Yet

For Standard EFT: Wait the full 2 business days. Remember weekends and public holidays don’t count as business days.

For Immediate Payment or PayShap: If it’s been more than 1 hour, contact ABSA on 0860 002 722.

Wrong Account Details

If you entered wrong details, contact ABSA immediately. Standard EFTs can sometimes be stopped if you act quickly. Immediate payments and PayShap cannot be reversed.

Transaction Failed

This can happen if you don’t have enough money in your account. It can also happen if you reached your daily limit. Check your account balance and limits in the ABSA app.

Cannot Find PayShap Option

Make sure your ABSA app is updated to the latest version. If you still cannot find it, contact ABSA to activate PayShap on your profile.

📞 Important Contact Numbers

For most everyday payments, use the Standard EFT method. It’s free and reliable. Plan ahead so the 1-2 day wait doesn’t cause problems.

For urgent payments, PayShap is your best choice if both people have it set up. It’s instant and costs less than Immediate Payment for most amounts.

Only use Immediate Payment for true emergencies when PayShap is not available. The R40 fee for large amounts can add up quickly.

Always double-check account details before sending money. Once the money leaves your account, especially with immediate methods, you cannot get it back.