How to ewallet from absa

Overview

The Absa eWallet service offers a convenient and accessible way to send money to anyone in South Africa using just their cellphone number. This innovative solution eliminates the need for recipients to have a bank account or be an Absa customer, making it a versatile tool for everyday transactions, remittances, and even small business payments.

How to Send Money via Absa eWallet

Using the Absa Banking App:

The Absa Banking App provides a user-friendly interface for managing your finances, including sending eWallets. Follow these steps:

1. Log in to the Absa Banking App: Ensure you have the latest version of the app installed on your smartphone.
2. Navigate to 'Pay' or 'Send Money': Look for the option to send money or make payments within the app's main menu.
3. Select 'eWallet': Choose the 'eWallet' option from the list of payment methods.
4. Enter Recipient's Details: You will be prompted to enter the cellphone number of the person you wish to send money to.
5. Enter Amount: Specify the amount you want to send. Remember the transaction limits (minimum R5, maximum R5,000 per transaction).
6. Confirm Transaction: Review the details and confirm the transaction. You may need to enter your PIN or use biometric authentication.
7. Notification: Both you and the recipient will receive an SMS notification confirming the transaction. The recipient will receive an eWallet PIN to collect their funds.

Using Absa USSD:

For those without a smartphone or internet access, the Absa USSD service offers an alternative way to send eWallets:

1. Dial the USSD Code: Dial *126# from your Absa-registered cellphone number.
2. Follow the Menu: Navigate through the menu options. Select 'Send Money' or a similar option.
3. Choose 'eWallet': Select the 'eWallet' option.
4. Enter Recipient's Cellphone Number: Input the cellphone number of the person you are sending money to.
5. Enter Amount: Specify the amount you wish to send.
6. Confirm Transaction: Verify the details and confirm the transaction by entering your 5-digit Absa PIN.
7. Notifications: You and the recipient will receive SMS confirmations. The recipient gets a reference number and PIN to collect their funds.

How the Recipient Collects Funds

Once you have successfully sent an eWallet, the recipient will receive an SMS containing a unique reference number and a 4-digit eWallet PIN. To collect their funds, the recipient needs to:

1. Visit an Absa ATM: Go to any Absa ATM.
2. Select 'Cardless Services': On the ATM screen, choose the 'Cardless Services' option.
3. Select 'eWallet Withdrawal': Choose the 'eWallet Withdrawal' option.
4. Enter Details: The recipient will be prompted to enter the reference number and the 4-digit eWallet PIN sent via SMS.
5. Withdraw Cash: Once verified, the recipient can withdraw the cash amount sent.

Alternatively, recipients can also collect their eWallet funds at selected retailers that offer Absa cash withdrawal services. They will need to present their SA ID book and the eWallet details (reference number and PIN) provided by the sender.

eWallet Limits and Fees

Absa has implemented limits to ensure the security and responsible use of the eWallet service:

• Minimum Transaction Amount: R5
• Maximum Transaction Amount: R5,000 per transaction
• Daily Limit: R10,000 per day
• Monthly Limit: R25,000 per month

Fees: While sending money via eWallet is generally free, standard transaction fees may apply depending on your specific Absa account type and the method used (e.g., app vs. USSD). It is advisable to check Absa's latest fee structure or contact customer service for the most up-to-date information on any applicable charges.

Benefits of Using Absa eWallet

• Accessibility: No bank account is required for the recipient.
• Convenience: Send money anytime, anywhere using your phone.
• Speed: Funds are typically available to the recipient within minutes.
• Security: Transactions are protected by PINs and reference numbers.
• Versatility: Useful for various purposes, from sending pocket money to paying informal service providers.

Important Considerations

Always ensure you have the correct cellphone number for the recipient. Double-check the amount before confirming the transaction. Keep the reference number and PIN confidential until the recipient collects the funds. If you encounter any issues, Absa's customer support can provide assistance.