South Africans can make cash deposits into their bank accounts at Pick n Pay tills across the country, the giant retailer announced on Wednesday.
Pick n Pay’s chief information officer, Richard van Rensburg, said customers can deposit up to R5,000 at a cost of R19.95 per transaction, regardless of the amount.
He added, “Deposits at till points will provide easy access for customers who don’t have a bank branch or ATM in their area. This will save them time and money they would have spent on transport. Our stores will also provide a safe environment to deposit their cash, seven days a week.”
The deposits would reflect immediately in the customers bank account, according to Visa SA, one of Pick n Pay’s partners in the new service. Mastercard is also a partner.
How to deposit cash at Pick n Pay
To deposit cash at Pick n Pay (including its clothing stores), you would first need to specify the amount you wish to deposit and hand it over to the cashier at the till.
You would then be required to insert your bank card into the card reader, follow the prompts and enter your PIN. You will receive a receipt for the deposit once the transaction is successfully completed.
Supported banks at the moment include African Bank, Al Baraka, Bidvest, Discovery Bank, FNB, Grindrod, Nedbank, Old Mutual and TymeBank.
The company said it is in the process of onboarding banks that are not yet part of the service. It urged customers to contact their banks for other charges or queries.
Pick n Pay has more than 1,700 retail stores around the country which already provide cash withdrawal services. Withdrawals totalled R36 billion in 2019, the company said.
Pick n Pay and TymeBank partnership
The retailer has also concluded a strategic partnership with TymeBank to offer low-cost banking services to customers. For instance, customers using the TymeBank Visa debit card will earn Smart Shopper points everywhere they use it, not just inside Pick n Pay.
“Swipe your TymeBank card at the till to earn Smart Shopper points and to pay for purchases. The points you’ve already earned on your old blue Smart Shopper card are automatically linked to your TymeBank card and any new bonus points you earn for using the card as a Smart Shopper card are added to your balance at the end of every month,” Pick n Pay said.
Customers can get a personalised TymeBank visa debit card at a TymeBank kiosk inside Pick n Pay stores.