| Method | Availability | Typical Time | Fees |
|---|---|---|---|
| Direct EFT to SA bank account | All lenders | 5–30 minutes | None (from lender side) |
| Same-day payment (major banks) | Most lenders | Under 5 minutes | None |
| Next business day (smaller banks) | Some lenders | 1 business day | None |
| Cash / over-the-counter | Not available on Finpug | N/A | N/A |
| Mobile wallet | [DATA NOT AVAILABLE — verify with lender] | Varies | Varies |
Factors Affecting Disbursement Speed
- Bank: Accounts at Absa, FNB, Nedbank, Standard Bank, and Capitec typically receive funds faster due to real-time payment rails.
- Time of application: Applications approved during business hours (Monday–Friday, 08:00–17:00 SAST) are processed faster. Weekend and public holiday approvals may be delayed to the next business day.
- Accuracy of banking details: Any mismatch between the account number and branch code provided and the actual account will cause a payment rejection and re-processing delay.
- Lender's own processing queue: During peak application periods, individual lenders may experience short processing queues.
What You Need to Ensure Before Receiving Funds
- Provide a valid, active South African bank account number (not a third party's account).
- Ensure your account is not blocked, restricted, or under administration.
- Confirm the correct branch code or universal branch code is submitted.
- Make sure your account has no restrictions on incoming EFT payments.
FAQ — Receiving Funds
Can funds be sent to a third-party bank account? No. For fraud prevention and NCA compliance, lenders disburse only to the bank account in the borrower's own name.
What if the transfer fails? Contact the lender directly using the contact details provided in your loan agreement. The lender will investigate the failed payment and re-process once the correct account details are confirmed.
Can I choose to receive funds in cash? No. Lenders on the Finpug network operate as digital-first credit providers and disburse exclusively via EFT. Cash payments are not offered.
How will I know when the money has been sent? The lender will typically send an SMS or email confirmation once the disbursement has been processed. You can also check your bank account directly via internet banking or your bank's mobile app.