Money transfer is the process of moving money from one person to another with or without the use of a bank account.
Most financial institutions offer a bankless money transfer services that doesn’t require the recipient to have a bank account with them, but requires them to have an active mobile number.
In South Africa there are a number of financial services provider offering various money transfer solutions within the country, and some outside the borders of South Africa.
Here is a list of some of the various companies offering money transfer services:
PEPmoney
PEPmoney is a financial service offered by PEP that allows customers to apply for personal loans, send and receive money, get cashback rewards, send and collect parcels, purchase travel tickets, make DSTV payments and savings. Their money transfer service is available to South Africans with an active mobile number and can withdraw or collect from Shoprite, Checkers, ABSA and Usave.
FNB eWallet
FNB eWallet is a quick and simple way to transfer money from your FNB account to anyone who does not have a bank account with FNB. Because eWallet from FNB makes sending and receiving money so simple, it can be used for anything. FNB allows you to send a daily limit of R3000 and a monthly limit of R25 000.
Nedbank Send iMali
When you need to send money quickly to a friend, family member, or someone you owe money to, Nedbank’s Send-iMali is ideal. If you leave your wallet at home, you can also transfer yourself money to an ATM.
ABSA CashSend
ABSA CashSend allows anyone in South Africa to receive money without the need of them being a customer for ABSA. This money transfer facility from ABSA allows up to R3 000 daily and as much as R25 000 per month. The receiver needs two 4 and 10 digit PIN numbers to access the funds from an ABSA ATM.
Mukuru
Mukuru is a remittances company that enables migrants who are normally unable to use conventional financial institutions to move money in a convenient, secure, and economical manner. Mukuru understands that every customer, like all of us, has a story to tell.
Whether it’s for school fees, seeds and farming equipment, healthcare expenses, rent, or groceries, Mukuru is dedicated to ensuring that each tale has a happy conclusion.
Their cornerstone is based on international money transfers, and we can assist you in moving funds into, out of, and around Africa. It’s never been easier to send cash for immediate collection or to load up a bank account or mobile wallet.
Mukuru serves individuals in Botswana, Cameroon, the Democratic Republic of the Congo, eSwatini, Ghana, Kenya, Lesotho, Malawi, Mozambique, Nigeria, South Africa, Tanzania, Uganda, Zambia, and Zimbabwe.
Mukuru has over 8 million customers and has completed over 50 million transactions worldwide, providing rapid cash collections.
Their daily limits are up to R5 000 and as much as R25 000 can be transferred per month.
Mama Money
Mama Money is a safe and secure money transfer service that lets you send money from South Africa to countries across the world, including Zimbabwe.
People who work in South Africa and have family in Zimbabwe, Ghana, Malawi, Nigeria, Kenya, Uganda, and Ethiopia can send money to them simply and know that it will get in their hands within an hour.
The money will be sent to the recipients in USD rather than Rands, and the daily minimum and maximum amounts are R500 and R5,000, respectively, with a monthly limit of R25,000.
Use your phone or computer to send money to anybody, anywhere, at any time, and benefit from South Africa’s lowest transaction rates. The money transfer service has been awarded a license by the South African Reserve Bank.
To use Mama Money to send money to someone, first create an order by providing your recipient’s full name and cell phone number, then choose the amount you want to send them in Rands and pay for it at stores like Ackermans, Checkers, Boxers, Pick & Pay, PEP, Spar, and Shoprite.
Only mobile or internet banking payments will be accepted, and your cellphone number will be included in the reference. The money will be available in Zimbabwe in 30 minutes after the electronic payment order expires in 24 hours.
View Mama Money’s website here
There are other money transfer providers that include Pick n Pay, Checkers and Shoprite where people can be able to send and receive money across the country.
