Q: What is Standard Bank Instant Money?
A: Standard Bank Instant Money is a service that allows you to send money to anyone with a South African cellphone number, even if they don’t have a bank account. The recipient can withdraw the money immediately from a Standard Bank ATM or Spar, Tops or Pick n Pay stores.
Q: Does Standard Bank Instant Money expire?
A: Yes, Standard Bank Instant Money does have an expiry date. The sender has the option to choose the expiry date when sending the money, and the recipient must withdraw the money before the expiry date. If the recipient doesn’t withdraw the money before the expiry date, the money will be returned to the sender.
Q: How long does Standard Bank Instant Money last?
A: The sender of the Standard Bank Instant Money has the option to choose the expiry date, which can be any date up to 30 days from the date of sending. The recipient must withdraw the money before the expiry date, otherwise, it will be returned to the sender.
Q: Is it possible to extend the expiry date of Standard Bank Instant Money?
A: No, it is not possible to extend the expiry date of Standard Bank Instant Money. The only way to make sure the money doesn’t expire is to withdraw it before the expiry date.
Q: How does the recipient know the expiry date of Standard Bank Instant Money?
A: The recipient of Standard Bank Instant Money will receive an SMS with the expiry date of the money. It is important to make a note of the expiry date so that the money can be withdrawn before it expires.
Q: What happens if the recipient doesn’t withdraw the money before the expiry date?
A: If the recipient doesn’t withdraw the money before the expiry date, the money will be returned to the sender. The sender can then choose to send the money again if they wish.
Q: Can the sender cancel the Standard Bank Instant Money before the expiry date?
A: Yes, the sender can cancel the Standard Bank Instant Money before the expiry date. To cancel the money, the sender can call the Standard Bank call center or visit a Standard Bank branch.
Q: Is there a fee for sending Standard Bank Instant Money?
A: Yes, there is a fee for sending Standard Bank Instant Money. The fee depends on the amount of money being sent and ranges from R8.50 to R120.
Q: Do I need a Standard Bank account to send Standard Bank Instant Money?
A: Yes, you need a Standard Bank account to send Standard Bank Instant Money. You also need to be registered for online banking or the Standard Bank mobile app.
Q: Can I send Standard Bank Instant Money to someone who doesn’t have a Standard Bank account?
A: Yes, you can send Standard Bank Instant Money to someone who doesn’t have a Standard Bank account. The recipient can withdraw the money from a Standard Bank ATM or participating retailer.
In conclusion, Standard Bank Instant Money does have an expiry date, which is set by the sender and can be up to 30 days from the date of sending. The recipient must withdraw the money before the expiry date, otherwise, it will be returned to the sender. There is a fee for sending Standard Bank Instant Money, and you need a Standard Bank account to send the money. The recipient doesn’t need a Standard Bank account to withdraw the money.
