Quick Facts

• Standard EFTs take 24-48 hours to reflect
• Real-Time Payments (RTC) take up to 60 minutes
• PayShap payments are instant (under R3,000)
• Check your mobile banking app to verify payments
• Never trust proof of payment screenshots alone

What Is an EFT Payment?

An Electronic Funds Transfer (EFT) is when money moves from one bank account to another electronically. It is the most common way South Africans send and receive money.

In South Africa in 2025, there are different types of EFT payments:

• Standard EFT: Takes 1-2 business days to show in your account
• Real-Time Clearing (RTC): Also called “Pay & Clear Now” at some banks. Takes up to 60 minutes
• PayShap (RPP): Instant payments under R3,000. Available 24/7
• Instant EFT: Used for online shopping. Payment is verified immediately

All EFT payments in South Africa go through BankServ Africa. This is the central system that processes millions of transactions every day between all South African banks.

How Long Does an EFT Payment Take to Show?

The time it takes depends on the type of payment and when it was sent. Here is what to expect in 2025:

Payment Type	Processing Time	Notes
Standard EFT	24-48 hours	Weekends and public holidays delay processing
Same-Day EFT	Same business day	Only if sent before cut-off time (usually 3pm)
Real-Time / Pay & Clear Now	Under 60 minutes	Usually within 5 minutes. Costs more
PayShap	Instant (seconds)	Only for amounts under R3,000
Instant EFT (online)	1-2 business days	Merchant gets confirmation immediately

Why Do EFTs Take Time?

EFT payments are processed in batches by BankServ Africa. This means the bank collects many payments together and sends them all at once, usually three times per day.

Banks also do fraud and risk checks on payments. This is for your safety. These checks take between 24-48 hours for standard EFTs.

✅ How to Check Payments Using Mobile Banking Apps

The fastest and easiest way to check if money has arrived is using your bank’s mobile app. Here is how to do it for the major South African banks in 2025:

Capitec App

1. Open the Capitec banking app and log in
2. Your account balance shows on the home screen
3. Tap on “Transact”
4. Select “Transaction History”
5. Look for the incoming payment. It will show who paid you and the reference
6. Tap on the transaction to see full details

FNB App

1. Log in to the FNB banking app
2. Your balance shows on the home screen
3. Tap on your account
4. Select “View transactions” or “Payment History”
5. Check for the payment. Look at the reference to confirm it is the right payment
6. You can also set up SMS or push notifications to get alerts when money arrives

Standard Bank App

1. Open the Standard Bank app
2. Log in with your password or fingerprint
3. Select your account to see recent transactions
4. Tap “View all transactions” for full history
5. Check the date, amount, and reference

ABSA App

1. Open the ABSA banking app
2. Log in to your profile
3. Select the account you want to check
4. Look at your transaction history
5. Payments show with the sender’s name and reference

Nedbank App

1. Log in to the Nedbank Money app
2. Your accounts show on the home screen
3. Tap on the account
4. Select “Transaction history”
5. Check for incoming payments

How to Check via Online Banking (Computer)

If you do not have a smartphone or prefer to use a computer, you can check payments using online banking:

1. Go to your bank’s website on a computer
2. Click on “Log in” or “Online banking”
3. Enter your username and password
4. Complete the security checks (OTP or verification code)
5. Select your account
6. Look for “Transactions,” “Statement,” or “Account activity”
7. Check the list of recent transactions
8. Click on a transaction to see full details

You can also download a bank statement as a PDF. This shows all transactions for a chosen period. Most banks let you get statements for the last 3-12 months.

✅ How to Verify a Payment Is Real

CRITICAL RULE: Never trust a screenshot or proof of payment alone. Always check your own bank account.

Here is the only safe way to verify that someone really paid you:

What Payment Details Should Match?

• Amount: Must be the exact price you agreed
• Reference: Should match your invoice number or agreed reference
• Sender name: Should match the person or company paying you
• Date: Should be recent (within the last few days)
• Transaction type: Should say “Credit” or “Deposit” or “Transfer in”

🚨 WARNING: Fake Proof of Payment Scams

Scammers in South Africa in 2025 are getting very good at creating fake proof of payments. These scams target people selling items online or providing services.

How the Scam Works

1. The scammer agrees to buy your item or service
2. They send you a screenshot or image of a “proof of payment”
3. The fake proof looks very real – it has bank logos, transaction numbers, and your details
4. They create urgency: “I need it today!” or “I’m travelling tomorrow”
5. You give them the goods or service
6. The payment never arrives because it was fake

Red Flags of Fake Proof of Payments

How Scammers Create Fake Proofs

Scammers use several methods:

• Photo editing software: They edit real bank screenshots to change names and amounts
• Fake SMS messages: They create fake banking SMS alerts
• Fake emails: They send emails that look like they are from your bank
• Website generators: Some websites let criminals create fake proof documents

How to Protect Yourself

⚠️ What to Do If You Haven’t Received the Payment

If someone says they paid you but the money has not arrived, follow these steps:

Step 1: Check How Long It Has Been

First, check when they say they made the payment:

• If it was less than 48 hours ago, wait longer
• If they paid Friday afternoon, wait until Tuesday
• If they paid during a public holiday, wait until the next business day + 48 hours

Step 2: Verify Your Bank Details

Ask the payer to confirm the details they used:

• Your account number – is it correct?
• Your bank name – did they choose the right bank?
• The reference they used

Step 3: Ask for Proper Proof

If they insist they paid, ask them to:

1. Log in to their banking app while you watch (video call or in person)
2. Show you the transaction in their transaction history
3. Confirm the money actually left their account (balance decreased)
4. Check if the payment shows as “successful” or “failed”

Step 4: Contact the Bank

If the payer can prove the payment was sent successfully, contact your bank:

• Call your bank’s customer service number (on the back of your card)
• Give them the transaction reference number from the payer
• Ask them to trace the payment
• They can check if the payment is “in suspense” or waiting to be processed

Step 5: Wrong Account Number?

If the payer used the wrong account number, they need to:

1. Contact their bank immediately
2. Request a payment reversal within 30 days
3. Fill in a “Payment Reversal Request Form”
4. Pay a reversal fee (around R140-R160 in 2025)
5. Wait 10 business days for feedback

Important: Reversals are not guaranteed. The recipient must agree, and the money must still be in their account.

Your Consumer Rights and Where to Get Help

As a South African consumer, you have rights when it comes to banking and payments. Here is where to get help if you have problems:

National Financial Ombudsman (NFO)

In 2025, the National Financial Ombudsman replaced the old Ombudsman for Banking Services. This is a free service that helps you if you have a dispute with your bank.

When to contact the NFO:

• Your bank is not responding to your complaint
• You disagree with how your bank handled a problem
• A payment went to the wrong account and the bank won’t help
• You believe the bank made an error
• Fraud happened and the bank refuses to refund you

Before contacting the NFO: You must first try to resolve the problem with your bank. Keep copies of all emails, letters, and records of phone calls.

SABRIC – For Fraud and Scams

The South African Banking Risk Information Centre (SABRIC) helps with banking fraud and scams.

South African Police Service (SAPS)

If you are a victim of a scam, you must open a case with the police:

• Emergency: 10111
• Crime Stop: 08600 10111 (anonymous tips)
• Visit your nearest police station to open a fraud case
• Get a case number – you will need this for your bank

Your Rights Under the Consumer Protection Act

As a South African consumer, you have the right to:

• Receive fair service from your bank
• Be protected from fraud and theft
• Get help if something goes wrong
• Make a complaint without being punished
• Clear information about fees and processing times

✅ Best Practices for Receiving EFT Payments Safely

1. Always verify in your own account
   Never rely on screenshots or proof documents sent by the payer
2. Wait for full processing time
   Give standard EFTs 48 hours to show before questioning
3. Use instant payment methods for large amounts
   Ask for PayShap (under R3,000) or Real-Time Clearing for immediate confirmation
4. Set up banking notifications
   Get SMS or app alerts when money arrives in your account
5. Keep records
   Screenshot your transaction history or download statements
6. Use unique references
   Ask payers to use your invoice number or order number as reference
7. Double-check bank details
   Always confirm your account number before sharing it
8. Don’t rush
   Any buyer who pressures you to release goods before payment clears is suspicious
9. Meet at a bank for expensive items
   For valuable goods, meet at a bank so they transfer while you watch
10. Know your rights
    Keep the NFO number saved: 0860 800 900

Common Questions About EFT Payments

Can I check if someone paid me without a smartphone?

Yes! You can use online banking on a computer, or phone your bank’s customer service line. You can also visit a bank branch with your ID and ask them to print your recent transactions.

How much does it cost to receive an EFT payment?

In 2025, receiving money is usually free. You do not pay anything when someone deposits money into your account. You only pay when you withdraw it or send money out.

Can I trust an email payment notification?

No! Never trust payment notifications that come via email or SMS unless you verify them in your own banking app. Scammers can fake emails and SMS messages easily.

What if the payment shows as “pending”?

“Pending” means the payment is still being processed. Wait the full processing time. If it stays pending for more than 48 hours, contact your bank.

Can someone cancel an EFT after sending it?

Once an EFT payment is successful, it is final and cannot be cancelled. The sender can request a reversal, but this requires the recipient’s permission and takes 10 days to process. Real-Time Payments and PayShap cannot be reversed at all.

How do I know if a payment is successful or still processing?

In your banking app, look at the transaction status. It should say “Successful” or “Completed”. If it says “Pending” or “Processing”, wait longer. Your available balance will also increase when the payment is fully processed.

What is the safest payment method for selling online?

For 2025, the safest methods are:

1. PayShap – Instant and cannot be reversed
2. Real-Time Clearing – Shows within 60 minutes
3. Cash on delivery (if meeting in person)
4. Secure online platforms like Takealot or Bob Shop that hold payment until delivery

Can the bank reverse a payment if I was scammed?

This depends. If you voluntarily sent money to a scammer, banks usually cannot help because you authorised the payment. However, if your account was accessed fraudulently (like in a SIM swap scam), you may get a refund. Report fraud to your bank immediately and open a police case.

The most important rule when checking if someone paid you is simple: trust only your own bank account. Screenshots and proofs can be faked. Your banking app cannot lie.

In 2025, South Africa has very good instant payment options like PayShap and Real-Time Clearing. Use these for selling online or providing services. They give you immediate confirmation and cannot be reversed.

If someone cannot pay using an instant method, wait the full 48 hours for a standard EFT before releasing any goods or services. This protects you from scams.

Set up notifications on your banking app so you get alerts when money arrives. This is usually free and makes your life much easier.

If you have any problems with payments, contact your bank first. If they don’t help, contact the National Financial Ombudsman on 0860 800 900. This service is free.

Remember: You have rights as a consumer. Banks must treat you fairly. If something goes wrong, you have places to go for help.