You can easily pay accounts, manage beneficiaries, buy airtime and much more with Absa Online banking. Here are some things that are useful to know.

  • What do I need to know about beneficiaries?

    • You can link, manage and view the payment histories of up to 999 beneficiaries
    • To ensure that you don’t send money to the wrong person, always check your beneficiary details before transferring money
    • You can create your own permanent beneficiary list online, allowing you to go back and pay them quickly and easily without having to re-add their details
  • What type of payments can I make?

    • Payments to pre-listed beneficiaries like Telkom, SARS, your local municipality and even traffic fine payments
    • Once-off payments
    • Future dated payments
    • Payments to multiple beneficiaries at the same time
    • Group payments
    • Immediate Interbank Payments (IIP)
    • Inter-account transfers
    • Online PrePaid airtime purchases for Cell C, MTN, Virgin Mobile, 8ta and Vodacom
    • Recurring payments
    • CashSend lets you make payments to beneficiaries who do not own bank accounts, you provide them with a code they simply have to enter at an Absa ATM to withdraw the money
    • Send money overseas with Western Union
  • What is a notice of payment?

    • This is proof of payment that gets sent to the beneficiary via SMS, e-mail or fax
    • Separate charges apply for NotifyMe
  • What is a payment limit?

    • Payment limits apply to inter-account transfers, payments and stop-orders.
    • These form an important part of your Internet banking security and can potentially stop a phisher from transferring very large amounts of money from your account.
    • When daily limits are set you will only be able to transfer money and make payments within these limits.
    • The limit values you set-up are entirely up to you and can be reset at any time under your profile.
    • A payment limit is set independently from your account balance. You still need to have the money available to make payments.
    • When you initially register, you’ll need to visit a branch to set up your daily payment limits.
  • How do I stop a payment?

    • You can stop a cheque or debit order payment online as well as view and manage all stopped payments.
    • When a debit order is stopped on Absa Online, the debit order will still be debited from your account and returned 3 to 4 days later.
    • This happens because the debit order is submitted by an external company e.g. an insurance house or service provider on a day agreed by you and them. The transaction information is not held by Absa.
  • What are the lead times for payments?

    • Internal transactions made from one Absa account to another are credited immediately
    • Immediate Interbank Payments make payments to accounts held at other financial institutions available immediately
    • Payments made to external bank accounts on Sundays or public holidays will be credited the following business day
    • Payments made to external bank accounts during the week and on Saturdays follow these guidelines:
    Payment Type Value Weekdays Saturdays Expected delivery at the other bank
    Normal Payment <R5 million Before 15:30 Before 10:45 End of same business day
      <R5 million After 15:30 After 10:45 End of following business day
      <R5 million Before 14:00 Before 09:30 End of same business day
      <R5 million After 14:00 After 09:30 End of following business day
    Immediate Interbank Payment <R5 million
    (per transaction)
    Before 14:45 Before 09:30 Immediately subject to an hour's delay for the 1st and 2nd payments made to new beneficiaries/once-off payments
      <R25 000
    (per transaction)
    After 14:45 After 09:30 Immediately subject to an hour's delay for the 1st and 2nd payments made to new beneficiaries/once-off payments
  • Immediate Interbank Payment (IIP) Limits

    Weekdays
    Amount Transfer times When it will be received
    Immediate and daily interbank payments of less than R5 million (five million rand) Can be performed on weekdays from 08:00 to 14:45
    The funds will reach the receiving bank immediately and will be credited to the recipient’s account according to the receiving bank’s internal process.
    Immediate access of funds is subject to an hour’s delay for 1st and 2nd payments to new beneficiaries/once-off payments.
    Immediate and after-hours interbank payments of less than R25 000 (twenty five thousand rand) Can be performed after hours from 14:45 to 08:00
    The funds will reach the receiving bank immediately and will be credited to the recipient’s account according to the receiving bank’s internal process.
    Immediate access to funds is subject to an hour’s delay for 1st and 2nd payments to new beneficiaries/once-off payments.
    Saturdays, Sundays and public holidays
    Amount Transfer times When it will be received
    Immediate and after-hours interbank payments of less than R25 000 (twenty five thousand rand)
    Saturdays, Sundays and public holidays
    Can be performed on Saturdays, Sundays and public holidays from 14:45 on Fridays to 08:00 on Mondays and public holidays The funds will reach the receiving bank immediately and will be credited to the recipient’s account according to the receiving bank’s internal process.
    Immediate access to funds is subject to an hour’s delay for 1st and 2nd payments to new beneficiaries/once-off payments.

Need more help?

Let one of our consultants assist you.

Call us on:

08600 08600

or

+27 (0)11 501 5110

E-mail us at:

ib@absa.co.za

Visit your nearest branch