Woman sending cash through the Investec app

11 Jul 2022

Send cash, get cash | Available on Investec Online and the App

Quick Update | A collection of news in brief from Investec Private Banking

Need to send cash to someone who doesn’t have a bank account? Forgot your Investec Visa card at home and need to pay for lunch? No problem.

You can easily and conveniently send cash to anyone with a cellphone number, including yourself.

How it works

How to send cash

Log into Investec Online, go to ‘Make a payment’ and select ‘Select Cash’
On the App, tap on ‘Transact’ then ‘Pay’ and select ‘Send Cash’
Choose if you want to send cash to yourself or a third party
Select the account you want to draw the cash from and enter the amount
Enter the cellphone number (for a third-party recipient). The cellphone number will be pre-populated for the ‘send to self’ option
Select ‘Submit’ – an SMS redemption code will be sent to the recipient.

How to get cash

When the recipient gets the SMS redemption code, the cash is immediately available.
Go to any Pick n Pay Store or Pick n Pay Hyper in South Africa within five days.
Give the SMS redemption code to the cashier and confirm the amount.
Get the cash and confirm you have it in full – simple as that!

The Ts and Cs

The limits (per account) are:
- R50 minimum
- R3 000 per transaction
- R6 000 per day
- R15 000 per month
To send cash will cost R11 per transaction (whether the redemption code is used or not). Fees are not refundable.
The SMS redemption code is valid for five days. If it’s not used, the redemption code will expire and the funds will be returned.
You can resend the SMS redemption code twice to the original cellphone number selected.
Withdrawals are subject to cash availability at the store
You can cancel the cash send at any point before it is redeemed. Log into Investec Online to do this.
The recipient can only withdraw the full amount – partial redemptions are not possible.
No Rewards points will be earned for these transactions.
On Youth Accounts, the parents will also receive the transactional SMS (dual notification) that money has been drawn from the child’s account

Multiple user access

Only the main account holder and level three single signatory Multiple Access Users can send cash. The same limits apply.
The voucher SMS will be sent to the user transacting and not the main account holder.
Existing rules will apply for MUA Levels zero to four.

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