Rather use EFT Using EFT as an alternative for banking
Most of the biggest banks like FNB, Nedbank, Standard Bank and more, support transferring money via EFT.
Wanting to have a lot of money in your possession might not be such a good idea any more.
The latest ‘robbery’- trend seem to be residents who withdraw large amounts of cash inside the bank, only to be robbed minutes after these withdrawals.
Having all the cash in your possession might seem like a good idea at first, but when you make someone else rich, the idea does not seem so good any more.
Only in this year, numerous residents in eMalahleni have fallen victim to these robbers, and in all cases the victims reported that the robbers asked for the cash they just withdrew.
Yes, it’s your hard earned cash and you can spend it any way you please. But if someone takes it from you, you can’t spend it anyway.
In the most recent incident, First National Bank responded by saying that they will fully support the police in these criminal activity.
This follows after Mr Samuel Mavuso withdrew money from the bank at FNB, Saveways Crescent branch last week. He was robbed of a substantial amount of money and said that the robbers said they want the money he just withdrew.
Police have warned residents through the media to not withdraw such large sums at a time- for obvious reasons.
Most of the biggest banks like FNB, Nedbank, Standard Bank and more, support transferring money via EFT (Electronic Funds Transfer).
According to the PayFast website, Instant EFT is the second most popular online payment method in South Africa after credit and cheque cards.
Don’t miss out on potential sales and make sure you have enabled Instant EFT on your PayFast dashboard.
They also state that the benefits of using this method of transferring money includes:
• It clears immediately; no two day wait
• No proof of payment required
• No delays during checkout
• Works on all browsers and most smart mobile devices
• More payment options for greater flexibility
Having online banking does not come without its risks, but there are the advantages.
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The website, AllBusiness highlights the following:
The main benefits of making and receiving EFT payments are cost savings and convenience, of course;
Most employees have grown accustomed to the convenience of receiving their pay electronically via direct deposit.
And employers save money, too, because payroll direct deposit is less expensive than issuing paper pay checks;
Companies that receive EFT payments from customers also enjoy cash-flow advantages because they are assured that payments will be made automatically on the date they’re due rather than having to wait for checks that may or may not be ‘in the mail’.
They also say that utility companies and health clubs were among the first businesses to begin using EFT on a large-scale basis, but smaller firms can enjoy the same cost savings and cash flow benefits.
For personal use this is also much more convenient and a track record is always available.
Finally, EFT transfers are safe and secure. Since the inception of the EFT nearly 40 years ago, there has not been a single reported instance of an EFT payment being lost.
