What are the steps to withdraw instant money from Standard Bank?
The steps to withdraw instant money from Standard Bank are as follows:
1. Visit any of the Standard Bank ATMs that offer Instant Money services.
2. Select “Instant Money” from the menu options.
3. Enter your 10-digit cellphone number as the recipient of the money.
4. Enter the amount of money you want to withdraw.
5. Enter the ATM PIN code that has been sent to your phone.
6. Collect the money, and a receipt will be printed out.
Is there a maximum amount that can be withdrawn using Instant Money?
Yes, there is a maximum amount that can be withdrawn using Instant Money. Standard Bank allows customers to withdraw up to R5,000 per transaction.
Do I need a bank account to withdraw instant money?
No, you do not need a bank account to withdraw instant money from Standard Bank. You only need a valid South African cellphone number, and the money can be withdrawn from any Standard Bank ATM.
How long does it take for the money to reflect in the recipient’s account?
The money is available for withdrawal as soon as the transaction is completed. The recipient can withdraw the money from any Standard Bank ATM immediately after receiving the SMS with the PIN code.
What happens if I enter the wrong cellphone number during the transaction?
If you enter the wrong cellphone number during the transaction, the recipient will not receive the SMS with the PIN code. In this case, you must contact Standard Bank’s customer service immediately to cancel the transaction.
How much does it cost to use Instant Money?
Standard Bank charges a flat fee of R8.50 per transaction for Instant Money services.
Is it safe to use Instant Money?
Yes, Instant Money is a safe and secure service offered by Standard Bank. The recipient can only access the money using the PIN code that is sent to their cellphone. Standard Bank also ensures that all transactions are encrypted and secured.
Can I withdraw Instant Money from a non-Standard Bank ATM?
No, Instant Money can only be withdrawn from a Standard Bank ATM that offers this service.
Is it possible to cancel an Instant Money transaction?
Yes, Instant Money transactions can be canceled by the sender or the recipient by contacting Standard Bank’s customer service. However, the transaction must be canceled before the recipient withdraws the money from an ATM.
What are the requirements to use Instant Money?
To use Instant Money, you only need a valid South African cellphone number and be over 16 years old. The sender must also have enough money in their account to complete the transaction.
In conclusion, withdrawing instant money from Standard Bank is a quick, convenient, and safe process that can be done from any Standard Bank ATM. By following the above steps, you can withdraw money for yourself or send money to someone else in a matter of minutes.
