Receiving Creditum loan proceeds
Approved rand balances leave Creditum by EFT only. There is no branch collection, retail partner payout or cash courier in the published model.
How the transfer works
After you accept the electronic agreement, the net principal is sent to the South African bank account you nominated during onboarding. The account holder name must match the borrower on the ID document; third-party accounts are typically rejected by compliance checks.
Timing by banking profile
| Scenario | Typical window |
|---|---|
| Absa, FNB, Nedbank, Standard Bank, Capitec | Same day to 24 hours after signing |
| Smaller or regional banks | Same day to 24 hours, occasionally longer clearing |
| Applications signed outside banking hours | May queue until the next business day depending on real-time rails |
| Creditum does not publish exact transfer minutes on the site; the ranges above reflect common EFT behaviour across major South African banks, not a guaranteed Creditum SLA. |
What appears in your account
You should see a credit labelled with Creditum or its registered legal name. The value equals the approved principal minus any initiation or insurance components deducted upfront if your quotation structured fees that way — confirm the net figure on the pre-agreement statement before signing.
If money has not arrived
Verify the IBAN/account number on the agreement, ensure your bank accepts incoming EFT credits, and check whether the transfer was scheduled for the next business day. Email info@creditum.co.za with your application reference and proof of signed contract if the delay exceeds one business day for a major bank.
Methods that do not apply
Cash over the counter, mobile wallet vouchers without a linked bank account, and pickup at retail outlets are outside the documented disbursement options.
