What is Standard Bank Instant Money?
Standard Bank Instant Money is a service that allows customers to send and receive money instantly using a cell phone, without needing a bank account.
How does Standard Bank Instant Money work?
To use Standard Bank Instant Money, customers need to have a Standard Bank account and register for the service. Once registered, they can send money to someone else’s cell phone number, who can then withdraw the funds at a Standard Bank Instant Money ATM or retail partner.
Where can I find Standard Bank Instant Money ATMs?
Standard Bank Instant Money ATMs can be found at Standard Bank branches and select retail partners, such as Spar, Pick n Pay, and Checkers. To find the nearest ATM, customers can visit the Standard Bank website or use the Standard Bank mobile banking app.
What kind of identification do I need to withdraw money at a Standard Bank Instant Money ATM?
To withdraw money at a Standard Bank Instant Money ATM, customers will need a valid South African ID or passport. They will also need to know the ATM PIN that was sent to them when the money was sent.
Are there any fees to withdraw money using Standard Bank Instant Money?
Yes, there are fees associated with using Standard Bank Instant Money. The fees will depend on the amount of money being sent and the recipient’s withdrawal method. Customers can view the fee schedule on the Standard Bank website.
Can I send money to someone who doesn’t have a Standard Bank account?
Yes, customers can send money to someone who doesn’t have a Standard Bank account. The recipient will receive a text message with instructions on how to withdraw the money at an Instant Money ATM or retail partner.
How long does it take to withdraw money using Standard Bank Instant Money?
Withdrawals using Standard Bank Instant Money are instant. Once the recipient has the necessary identification and ATM PIN, they can withdraw the money immediately.
What is the maximum amount of money I can withdraw using Standard Bank Instant Money?
The maximum amount that can be withdrawn using Standard Bank Instant Money is R5,000 per day.
Can I use Standard Bank Instant Money to pay bills or purchase goods?
No, Standard Bank Instant Money can only be used to send and receive money. It cannot be used to pay bills or purchase goods.
Is Standard Bank Instant Money secure?
Yes, Standard Bank Instant Money is secure. Transactions are protected by a unique ATM PIN that is sent to the recipient’s cell phone, and withdrawals require a valid ID or passport. Standard Bank also uses advanced security measures to protect customer information and prevent fraud.
