How to pay Nedbank credit card via EFT in South Africa (2024)
Did you know you can pay Nedbank credit card via Electronic funds transfer (EFT)? Yes, it is now possible to transfer money directly into your credit card account from another account. You can do this via an electronic funds transfer (EFT) or a transfer from any other Nedbank account. In this blog we will show you exactly how to pay for Nedbank credit card via EFT.
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Electronic funds transfer (EFT) is a general banking process by which credit card and direct debit transactions such as deposits or bill payments are made electronically from a donor’s bank account to your bank account for those that didn’t know the term EFT.
How to pay Nedbank credit card via EFT
Paying your Nedbank credit card via Electronic Funds Transfer (EFT) is a straightforward process which you can achieve by following the simple steps below:
1. Start by logging in to your bank’s online banking platform. This could be the website or mobile app of the bank
2. Navigate to the section for transferring funds or making payments. Look for an option like “Payments,” “Transfers,” or “Pay Bills.”
3. Choose the option to add a new beneficiary or pay a bill. You’ll need to add Nedbank as a beneficiary if you haven’t done so already.
4. Provide the necessary information for the payment. This typically includes the following:
5. Input the amount you want to pay towards your Nedbank credit card. You can choose to pay the full outstanding balance, the minimum payment, or any other amount you prefer.
6. Double-check all the details you’ve entered, including the beneficiary name, account number, payment reference, and amount. Ensure everything is accurate before proceeding.
7. Once you’ve verified the payment details, confirm the transaction to initiate the transfer. Depending on your bank’s procedures, you may need to enter a one-time PIN or password to authorize the payment.
How do I pay my Nedbank credit card from my Absa account?
In order to pay for your Nedbank credit card from your Absa account, follow the steps below to get it done:
- Log on to your online banking profile or banking app.
- Select Pay a Bill.
- For home loan, personal-loan or credit card payments, search for Nedbank. Nedbank-approved beneficiaries will then appear.
- Select the relevant account type.
- Enter your account number and pay.
How to make an EFT payment with Nedbank?
If you want to make an EFT payment with Nedbank, kindly follow the steps below to achieve this in a go online:
- Select the Nedbank Direct EFT payment option when shopping online.
- Login using your Nedbank ID or though the Money app.
- Select the account to make payment from.
- Authorise the transaction through an Approve-It message.
Frequently Asked Questions
Yes, you can make an EFT (Electronic Funds Transfer) payment to a credit card. This is a common way to pay off your credit card balance. What you need to do is to access your online banking account or mobile banking app. Then choose the option to make a payment or transfer funds.
If you are in South Africa and would like to pay Nedbank credit card from another bank, follow these simple steps:
– Log on to your online banking profile or banking app.
– Select Pay a Bill.
– For home loan, personal-loan or credit card payments, search for Nedbank.
– Nedbank-approved beneficiaries will then appear.
– Select the relevant account type.
– Enter your account number and pay.
Usually, EFT transactions typically take 48 – 72 hours to settle. However, you should note that the time it takes for an EFT (Electronic Funds Transfer) payment to process can vary depending on the banks involved and the specific type of EFT.
In South Africa, EFT (Electronic Funds Transfer) payments are a widely used method for transferring money between bank accounts and here is how it works:
1. The buyer selects their bank and logs in using their online banking credentials.
2. Next they choose from which account they will be making the EFT payment.
3. Buyers then verify the payment with their bank on their mobile device.
Nedbank’s charges for EFT (Electronic Funds Transfer) can vary based on the type of account you have and the method you use to make the transfer (e.g., online banking, mobile app, or at a branch).
In South Africa, Nedbank Instant EFT payment to other banks takes up to 30 minutes to process. The most convenient thing is that the Instant pay is accessible 24/7, including weekends and public holidays.
