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Nedbank Instant Payment

Update 08.04.2021

Version: 0.13

Terms and conditions

The instant payment service is a value-added service that enables Nedbank (we, us, our) to process your payments to beneficiaries who bank with participating banks in real time. Your beneficiaries will have access to the money within 30 minutes after you have made the payment, subject to the following processing times:

With new Online Banking and the Nedbank Money app, you can make instant payments 24/7, including on Sundays and public holidays, you can make payments during these times:

Processing windows:

Each processing day is divided into two distinct processing windows:

Daytime processing window 00h00:01 to 16h00

Overnight processing window 16h00:01 to 00h00

all participating banks will be restricted to different transaction limits for each of the above processing windows as per RTC clearing rules.

DaysProcessing WindowItem limit value
Business days (Monday Friday)00h00:01 16h00 (daytime)R5 000 000.00
Weekdays (overnight)16h00:01 00h00R250 000.00
Weekends and public holidays00h00:01 00h00R250 000.00

Update 25.11.2020

We’ve gone backwards, now 30 minutes instead of 20. Terms here

Update 08.09.2020

Yay, New “instant” is now only 20 minutes

Terms and conditions

The instant payment service is a value-added service that allows the processing of your payments to beneficiaries at participating banks in real time, giving those beneficiaries access to the funds within 20 minutes of the payment being made, subject to the following processing times:

– On new Online Banking and the Nedbank Money app, Instant payments may be processed 24/7 (including Sundays and public holidays).

– On Nedbank Internet Banking (to be phased out at a time to be notified)

DaysTimes available
Weekdays05:00 19:00
Saturdays05:00 15:00
SundaysNot available
Public holidaysNot available

An instant payment cannot be cancelled or reversed, and it is your responsibility to ensure the correctness of the account number/account name, as Nedbank does not carry out any verification in this regard.

What marketers call instant pre 08.09.2020

Instant Payments according to Nedbank’s definition of the word
“Instant payments are guaranteed for the recipient to receive the funds, within the same day, though hours may vary.”
“Sometime today payment” I suppose is too accurate and doesn’t sell as well

A payment took 4 hours and is classified as “instant” – the price of marketing

Instant Definition: An instant is an extremely short period of time. … If you say that something happens at a particular instant, you mean that it happens at exactly the time you have been referring to, and you are usually suggesting that it happens quickly or immediately.

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