As can be expected from one of South Africa’s major banks, Nedbank cash send and withdrawal is an easy process for both the sender and recipient of the funds.
If you wish to send money to a loved one (whether they bank with Nedbank or not) or wish to withdraw and don’t know how to do it, read on.
How to do cash send on Nedbank
There are several ways to do cash send on Nedbank: through the Money app, online banking, cellphone banking and Mobi Money.
- Log in on the Money app and go to Transact and then Pay.
- Select Single payment.
- Enter the recipient’s details.
- Select the option to pay to a cellphone number and follow the steps.
The recipient will then receive a cash voucher SMS, which they can use to withdraw the funds at any Nedbank ATM or participating store within 30 days.
To send using this method, log in to your online banking profile and navigate to Pay. Next, follow the same steps outlined above under the Money app method.
- Dial the USSD code *120*001# on your cellphone.
- Enter your login details.
- Select the “Send money” option and follow the steps.
- The recipient will then receive a cash voucher SMS, which they will use to withdraw the cash.
- Dial the USSD code *120*002# on your cellphone.
- Log in with your PIN.
- Select the “Send” option and follow the steps.
- Your recipient will receive a cash voucher SMS.
In case your recipient does not receive an SMS, ask them to dial *120*001# (Cellphone Banking) or *120*002# (MobiMoney) to get the cash voucher number and secret PIN again.
According to Nedbank’s FAQs document, the maximum transfer amount is R5,000 per day. However, the default limit is set at R2,500, which you can increase to R5,000 at a branch, via the Money app or using online banking channels.
If you’re a recipient and have lost the voucher, you may dial *120*002# and select “Get Cash Voucher.” Next, follow the prompts to retrieve details of the lost voucher.
A voucher is valid for 30 days only and once it has expired, the bank will return the funds to the sender. After completing the transaction, the sender needs to alert the recipient just in case he/she does not receive the SMS.
In case you have sent cash via Nedbank to the wrong cellphone number and wish to do a reversal if the voucher has not been used, you can dial 0800 555 111 for assistance. “We will then help you to cancel the voucher and arrange a refund. But remember, we are not liable if you pay money to the wrong cellphone number or if the amount is wrong,” Nedbank states.
Nedbank cash send withdrawal
You can do a cash send withdrawal at any Nedbank ATM or a participating store.
How to withdraw at an ATM
- Select Cardless transactions.
- Select Cardless withdrawal.
- Enter your voucher number.
- Enter the OTP sent to you via SMS.
- Select Withdraw.
- Enter the amount you want to withdraw (you must withdraw the voucher amount). Once done, you will receive an SMS from Nedbank confirming the transaction.
How to withdraw at a participating retail store
- Go a till and request a Nedbank cardless withdrawal.
- Give the cashier the voucher number and enter the OTP sent to you via SMS.
The following are the Nedbank cash send participating retail stores:
- Checkers Hyper
- House & Home
- OK Foods
- OK Furniture
- Pick n Pay