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JB
J B

1 reviews | Active since Mar 2010

30 Mar 2026, 15:09

Pathetic Absa EFT clearance schedule

Absa Bank needs to take time travel into 2026. It is long overdue. Wake up and smell the coffee. My bone to pick is centred around the dismally slow EFT clearance process at Absa Bank.

My mother, a pensioner, is dependent upon my monthly support grant to her for her daily expenses. Her state pension is pathetically insufficient. I have a standing EFT schedule on my current account at Standard Bank. I contribute as much as I can afford. When a scheduled EFT falls on a weekend, it is a game of roulette whether my mother would receive that payment before the Monday or even Tuesday. Why must it take Absa so long to clear an EFT from another bank, when Capitec or FNB can do so within an hour during business hours? FNB runs hourly EFT clearance batches during business hours. Similar for Capitec. But Absa, no, they only run a batch once a day or perhaps every 12h, if one is lucky.

My EFT to her, sent this past Saturday, is still not cleared to her bank account - and it is 15:05 on Monday. Why?

My mother is at the point of sending Absa to hell and moving to another bank that operates in the 21st century.

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Replies (4)
Absa
Absa's reply30 Mar 2026, 15:47
Official
Dear JP
  
Thank you for bringing this unfortunate matter/incident to my attention and please accept my sincere apology. Your reference number for this complaint is C-***9.

Please be advised that an email has been sent to you requesting information. Once received, we will investigate further.
  
Regards Russell EdwardsCustomer Value Management

Best regards,

JB
J B's update31 Mar 2026, 17:26
Reviewer Update
Absa has responded by email within an hour of my above complaint. I immediately phoned the Absa official who signed the email response. During the phone conversation, I was again told the corporate s**** of how it takes up to two business days to clear an ordinary interbank transfer. I retorted that it is only Absa that takes up to 2 business days - especially, when it comes to scheduled EFTs that happen to fall on a weekend. I pointed out that banks, such as FNB and Capitec run hourly batches of EFTs. Not daily batches only, like Absa does.
The official eventually committed to opening a missing funds case. At last, at 20h00 yesterday evening, my dear, fretting mother was relieved to find that the funds finally appeared in her account at Absa.
While I appreciate Absa's quick response to my complaint and intervention, I sincerely hope that they update their systems and policies to come in line with their competition out there. It is unnecessary for my mother to stress every month when my EFT to her happens to fall on a weekend at the end of a month.
Absa
Absa's reply01 Apr 2026, 09:11
Official
Dear JP
  
Thank you for your response.

You are hereby advised on the following:

Payshap payments: should take 10 seconds to clear.
Real-time payments:  should take 1 hour to clear.
EFT payments: should take 24-48 business hours to clear.

Hope this clarifies why your mom's payment only reflected on Monday.
  
Regards Russell EdwardsCustomer Value Management 

Best regards,

Absa
Absa's reply01 Apr 2026, 09:35
Official
Dear JP


Thank you for your response.
You are hereby advised on the following:

Payshap payments: should take 10 seconds to clear.
Real-time payments: should take 1 hour to clear.
EFT payments: should take 24-48 business hours to clear.
Hope this clarifies why your mom's payment only reflected on Monday.

Regards
Russell Edwards
Customer Value Management

Best regards,