Shoppers now can make deposits directly into their bank accounts for a single flat rate that will be reflected in their bank accounts at all Shoprite, Checkers, and Usave stores.
In a move similar to Pick n Pay’s last year, shoppers can now conduct some simple banking services at any of the Shoprite group’s points of sale, including certain account payments, airtime top-ups, and cash withdrawals.
The Shoprite Group claims that the service would provide an additional level of comfort for its clients, many of whom earn cash wages and live in rural areas with few bank branches and ATMs.
The company currently has 1,700 locations that will welcome these deposits, with many of them keeping hours that are longer than banks and still open on weekends.
The service operates similarly to Pick n Pay: customers simply show a MasterCard or Visa card, along with the cash they wish to deposit, at a point of sale, and the teller will complete the transaction.
Shoppers can deposit up to R3,000 in cash per transaction at Shoprite Group shops, compared to a maximum of R5,000 at Pick n Pay stores.
Shoprite currently has ten of the country’s largest banks on board which include African Bank, Bidvest Bank, Discovery Bank, FNB, Investec, Standard Bank, Nedbank, TymeBank, Sasfin, and Grobank.
The list of participating banks currently excludes Capitec, as it is with Pick n Pay’s equivalent cash deposit feature.
Shoprite, like Pick n Pay, has a one-time transaction fee of R19.95. Most banks are now directing their deposits to ATMs rather than branches, which normally have a fee-free threshold of R1,500 or R3,000, beyond which fees rise on a sliding scale of R100.
Shoprite and Checkers Money Transfer
Money Market, conveniently located in your nearest Shoprite and Checkers stores, is your one-stop shop for all your financial needs.
You can do anything at Shoprite or Checkers, including money transfers, data, airtime, and electricity top-ups, gift cards and savings stamps, ticket purchases, and even insurance.
For foreign nationals you can send a daily limit of R3000 per transfer and a maximum of R10 000 per month, while for citizens they can send a daily limit of R5000 per transfer and R25 000 per month.
