Nedbank to FNB Transfer Time
When transferring money between Nedbank and First National Bank (FNB) in South Africa, the time it takes for the funds to reach the recipient depends on several factors, such as the type of transfer, the time of day, and whether the transfer is made on a business day or over a weekend.
Here’s a detailed guide to help you understand the typical transfer times:
Summary of Nedbank to FNB Transfer Times:
| Transfer Type | Time Taken | Fee |
|---|---|---|
| Standard EFT (Business Days) | 1-2 business days (next day if early) | Standard transfer fee |
| Instant Payment | Immediate (seconds to minutes) | R10 – R50 |
| Weekend/Public Holiday Transfers | Processed on the next business day | Standard or Instant |
How to Make a Nedbank to FNB Transfer:
- Via Nedbank Money App:
- Log in to the Nedbank Money App.
- Select Payments and choose Make a Payment.
- Enter the recipient’s details (FNB account number).
- Choose either Instant Payment or Standard EFT based on urgency.
- Via Online Banking:
- Log in to Nedbank Online Banking.
- Select the Payments option and input the FNB recipient’s account details.
- Select the type of transfer and confirm.
For more detailed information on Nedbank to FNB transfers, you can visit the Nedbank Payments Page.
1. Standard EFT Transfer (Business Days)
For regular Electronic Funds Transfers (EFTs) between Nedbank and FNB on business days (Monday to Friday), the following applies:
- Processing Time: Standard EFT transfers between Nedbank and FNB typically take 1 to 2 business days. If the transfer is made early in the day, it might reflect in the recipient’s account the same day. However, transfers made later in the afternoon are likely to only reflect the next business day.
- Cut-off Times: Transfers made after the daily cut-off time (usually around 3:30 PM to 4:00 PM) are processed the following business day. Transfers initiated on weekends or public holidays will only start processing on the next business day.
2. Instant Payments
For urgent transfers, Nedbank offers Instant Payments or Real-Time Clearing (RTC):
- Processing Time: With Instant Payments, the transfer between Nedbank and FNB occurs immediately, with funds reflecting in the recipient’s account within seconds to a few minutes.
- Fees: Instant Payments typically incur additional fees, which can range from R10 to R50 depending on the amount being transferred. It’s a convenient option when funds need to be transferred quickly between different banks.
3. Weekend and Public Holiday Transfers
- Processing Time: If you make a standard transfer on a weekend or public holiday, the transaction will only be processed on the next business day. Therefore, if you initiate a transfer on a Friday afternoon, it may only reflect in the recipient’s FNB account by Monday or Tuesday.
- Instant Payments: Unlike standard EFTs, Instant Payments are not limited by banking hours and can be made 24/7, including weekends and public holidays.
Factors That Affect Transfer Times
Several factors can influence how long it takes for a Nedbank to FNB transfer to process:
- Cut-off Times: Transfers initiated after the bank’s daily cut-off time are processed the next business day.
- Transfer Method: Instant Payments are immediate, while standard EFTs can take up to 48 hours on business days.
- Public Holidays/Weekends: Regular EFTs made over weekends or holidays will only reflect on the next business day, whereas Instant Payments are processed immediately.
