How Long Does Standard Bank Instant Money Pin Last?
The Standard Bank Instant Money Pin is valid for a limited period, after which it expires. The exact duration of the validity period depends on various factors, including the specific type of Instant Money transaction, such as sending or receiving funds, and the security measures in place to protect customers against fraud and unauthorized access.
What is Standard Bank Instant Money?
Standard Bank Instant Money is a payment service that allows customers to transfer funds to anyone, anywhere, and anytime within South Africa. The service is available to both Standard Bank account holders and non-account holders and is accessible through the Standard Bank mobile app, online banking portal, or participating retailers.
How does Standard Bank Instant Money work?
With Standard Bank Instant Money, customers can send or receive funds instantly by providing the recipient’s cellphone number and the desired transfer amount. Once the transaction is initiated, the recipient will receive an SMS notification containing a unique Instant Money Pin that they can use to withdraw the funds from participating retailers or Standard Bank ATMs.
How long does the Standard Bank Instant Money Pin last?
The duration of the Standard Bank Instant Money Pin varies depending on the type of transaction. For instance, the Instant Money Pin that the recipient receives after a standard Instant Money transfer lasts for 30 days. However, for services such as paying for your DSTV subscription using Instant Money, the recipient’s pin will only last for 24 hours.
Can I use an expired Standard Bank Instant Money Pin?
No, expired Standard Bank Instant Money Pins cannot be used to withdraw funds. Once the validity period of the Pin expires, the recipient will have to request a new Pin from the sender or initiate a new transaction.
What happens if I don’t use my Standard Bank Instant Money Pin within the validity period?
If the recipient fails to use the Standard Bank Instant Money Pin within the validity period, the funds will automatically be reversed back to the sender’s account. The sender will then be required to initiate a new transaction and generate a new Pin for the recipient.
Can I change my Standard Bank Instant Money Pin?
Yes, you can change your Standard Bank Instant Money Pin by contacting the Standard Bank call center or visiting a Standard Bank branch. Changing your Pin provides an additional layer of security and protects your funds from unauthorized access.
Is Standard Bank Instant Money secure?
Yes, Standard Bank Instant Money is secure, and your transaction details are protected using robust security measures. Additionally, the Instant Money Pin system provides an additional layer of security to ensure that only the intended recipient can access the funds.
