Q: What is Standard Bank Instant Money?
A: Standard Bank Instant Money is an electronic money transfer service that allows Standard Bank customers to send and receive money instantly and securely, without the need for a bank account or physical cash.
Q: Who can use Standard Bank Instant Money?
A: Standard Bank Instant Money is available to both Standard Bank customers and non-customers.
Q: How do I send Standard Bank Instant Money?
A: To send Standard Bank Instant Money, follow these steps:
1. Dial *120*2345# on your mobile phone.
2. Select “Send Instant Money” from the menu.
3. Enter your recipient’s cellphone number.
4. Choose the amount you want to send.
5. Enter your secret PIN.
6. Confirm the transaction.
Q: What is the maximum amount I can send using Standard Bank Instant Money?
A: The maximum amount that can be sent using Standard Bank Instant Money is R5 000 per transaction, with a daily limit of R25 000.
Q: What is the cost of sending Standard Bank Instant Money?
A: The cost of sending Standard Bank Instant Money varies depending on the amount being sent. There is a minimum fee of R6,50 for all transactions.
Q: How does the recipient access the money sent via Standard Bank Instant Money?
A: The recipient will receive an SMS notification with a unique 10-digit voucher number. The voucher number can be used to withdraw the money at any Standard Bank ATM or retailer with Instant Money access.
Q: What if I accidentally send the wrong amount or to the wrong cellphone number?
A: If you have sent the wrong amount, you can contact Standard Bank customer care immediately to request a reversal or correction. If you have sent the money to the wrong cellphone number, you should also contact customer care as soon as possible. However, note that once the recipient has withdrawn the money, you will not be able to reverse or cancel the transaction.
Q: Is Standard Bank Instant Money secure?
A: Yes, Standard Bank Instant Money is highly secure. Transactions are protected by the latest encryption technology and require a secret PIN to be entered before the transaction can be completed.
Q: What should I do if I suspect fraud?
A: If you suspect fraud, you should contact Standard Bank customer care immediately. Standard Bank takes fraud very seriously and has stringent measures in place to prevent and investigate fraudulent activity.
Q: Can I send Standard Bank Instant Money internationally?
A: No, Standard Bank Instant Money is currently only available for domestic transfers within South Africa.
Q: Overall, is Standard Bank Instant Money a reliable and convenient way to send and receive money?
A: Yes, Standard Bank Instant Money is a reliable and convenient way to send and receive money. It is highly secure, easy to use, and available to both Standard Bank customers and non-customers. With instant transfers and a wide network of partners, Standard Bank Instant Money is a great option for anyone looking for a quick and secure way to transfer money domestically.
