| Method | Speed | Typical cost | Limit |
|---|---|---|---|
| PayShap | Under 60 seconds | Free to about R10 | R50,000 per transaction |
| Real Time Clearing | Under 60 seconds | R40 to R60 | Bank dependent, often R250,000 |
| Ordinary EFT | 1 to 2 business days | R1 to R15 | High |
| Instant EFT, third party | Minutes, confirmation only | Merchant pays 1% to 3% | Bank dependent |
| Card | Immediate authorisation | Merchant pays 1% to 3% | Card limit |
| Debit order | On the agreed date | R2 to R15 | Mandate dependent |
| Cash deposit | Immediate | 1% to 2% of the amount | FICA reporting above R49,999.99 |
| Situation | Effect |
|---|---|
| Payment made after the daily cut-off | Processes the next business day |
| Payment made on a Friday afternoon | Often only clears on Monday or Tuesday |
| Public holiday | Not a business day for clearing |
| Payment to a different bank | Slower on ordinary EFT, same on PayShap |
| First payment to a new beneficiary | Some banks hold it for verification |
| Purpose | Best route | Why |
|---|---|---|
| Funding a local broker account | Instant EFT or RTC | Same day, verified immediately |
| Funding an offshore broker | Card or international transfer | Local rails do not cross the border |
| Small urgent transfer | PayShap | Seconds, and cheap or free |
| Regular monthly contribution | Ordinary EFT or debit order | Cheapest per transaction |
| Receiving a withdrawal | Ordinary EFT to your own account | Brokers rarely pay to a third party |
Data maintained by TradeAnswers · updated as the figures change