The Payout Timeline
CenturyZA aims for same-day payouts for all approved loans. If your application is finalized and the DebiCheck mandate is authenticated during normal banking hours, the funds are usually released immediately.
| Scenario | Typical Payout Time |
|---|---|
| Approved before 14:00 on a weekday | Same day (often within hours) |
| Approved late afternoon | Next business day morning |
| Approved on a weekend or public holiday | Next business day |
Note: The exact time the money reflects in your account also depends on your specific bank's processing times.
The Role of DebiCheck in Payouts
It is crucial to understand that CenturyZA will not release the loan funds until you have successfully authenticated the DebiCheck mandate. This mandate is a request sent to your banking app or via USSD, asking you to confirm the future debit order for your loan repayment.
If you do not approve the DebiCheck mandate, the EFT will not be initiated. Always keep an eye on your banking app for this authorization request immediately after signing your loan agreement.