Standard Bank\u2019s Instant Money cash transfer product has more than tripled its access points in nine months.<\/p>\n
Today, the bank announced that the service is now available at approximately 50 000 access points in South Africa. In November last year the bank had 15 000 access points.<\/p>\n
Instant Money is a money transfer product that allows consumers who do not have a bank account to send and receive cash.<\/p>\n
Funds can be transferred using internet banking, ATM\u2019s, the banking app and cellphone banking. The service is also available at various retail partners.<\/p>\n
With Instant Money, a limit of R 5000 per day can be sent from PEP, Spar, Cambridge Food, Game, Makro, Builders warehouse and Rhino stores.<\/p>\n
Withdrawals can be made from the same stores as well as Kazang outlets, select OTT partner stores, Pick n Pay, Boxer, Shoprite, USave, Checkers, OK Furniture and House & Home nationwide.<\/p>\n
The recent boost in access points was due to the inclusion of Kazang<\/strong><\/a>, a prepaid value-added services (VAS) and micro-payments company that offers shopkeepers the opportunity to increase their revenue by selling prepaid vouchers for a variety of services from airtime and electricity, lotto tickets, more than 120 bill payments and Instant Money voucher redemptions.<\/p>\n