These days there are various options for transferring money. This becomes especially useful for individuals who cannot afford or don’t have a bank account. Money transfer options in South Africa are available through numerous entities including the likes of Checkers, Shoprite, Pep and Spar. These are a few examples of Money Transfer service providers available in South Africa:
Checkers (in partnership with Capitec):
Transfers cost R9.99 each while collecting the money is free. A recipient needs their I.D, the secret PIN and Money Transfer number given by the sender.
Here’s more on how the process works through Checkers:
Pep (in partnership with Absa):
To apply, individuals need a valid I.D, Pep ClubCard and cellphone number. It can also be used via cellphone and internet banking or most Absa ATMs. Transfers cost R9.99 each and collection is free. The recipient needs a 10-digit reference number plus the 4-digit access code and exact amount that was sent by the sender.
Spar Instant Money (in partnership with Standard Bank):
This facility can be used to send as much as R5000 per day. Transfers cost R9.95 each (sending to other Instant Money users is free and collecting the money is free).
PicknPay Mobile Money (in partnership with MTN, TYME and Bank of Athens):
Also available at Boxer Stores, individuals get free transfers if they use an MTN Sim. Recipients need an I.D and phone number. Registration is free.
Mzansi Money Transfers (in partnership with SA Post Office and top 4 banks):
The recipient needs their I.D number, their reference number plus the PIN sent by the sender. Mzansi caters for cash-to-cash transactions.
Western Union Money Transfer (in partnership with Absa):
This facility can be used via cellphone and internet banking if you are a registered user of the respective services of Absa.
This can be used via cellphone or online banking, the FNB banking app or FNB ATMs. Individuals can deposit cash into an eWallet at an FNB ATM using a valid SA cellphone number. For non-FNB customers, you can take your I.D to any FNB EasyPlan branch and register once-off. Transfers cost R9.95 each and collecting money is free for the first withdrawal. Recipients need a cellphone number and PIN to collect.