ABSA Cash Send Withdrawal Limits And Fees: A Complete Guide

ABSA Bank is known for offering convenient and accessible banking services to millions of South Africans. One such service is the ABSA Cash Send Withdrawal, which allows users to send money to anyone with a cellphone number, even if the recipient doesn’t have a bank account. This service has proven particularly helpful for those who need to send money quickly and securely, especially to individuals living in rural areas or who do not have access to traditional banking systems.

In this complete guide, we will cover everything you need to know about ABSA Cash Send Withdrawal, including the withdrawal limits, fees, how the service works, security features, and more. Whether you’re sending money or receiving it, this guide will provide all the information needed to make the most of this service.

What is ABSA Cash Send?

ABSA Cash Send is a digital transfer service that enables ABSA account holders to send money to any cellphone number. The recipient can withdraw the money from an ABSA ATM without using an ATM card or even having a bank account. This service is ideal for those who need a fast and convenient way to transfer funds.

Key Features of ABSA Cash Send:

No bank account required for the recipient.
Money can be withdrawn using only a reference number and PIN.
Available 24/7, allowing transfers and withdrawals at any time.
The transaction is secure, with SMS notifications and PIN verification.

How Does ABSA Cash Send Withdrawal Work?

The ABSA Cash Send Withdrawal process is simple for both the sender and the recipient. To send money, you must have an active ABSA account and access to ABSA’s online banking services, such as mobile banking, internet banking, or the ABSA app. The recipient, on the other hand, only needs access to a cellphone to receive the money.

Here’s how you can use the ABSA Cash Send Withdrawal service:

For the Sender:

Log in to ABSA Mobile Banking or Internet Banking.
Select “Cash Send” from the list of services.
Enter the amount you want to send.
Provide the recipient’s cellphone number.
Set a six-digit PIN for the withdrawal.
Confirm the transaction.

Once the transaction is complete, the recipient will receive an SMS with a 10-digit reference number. The sender will also need to share the PIN with the recipient, which they will use to withdraw the money from an ABSA ATM.

For the Recipient:

Go to any ABSA ATM.
Select the “Cash Send” option on the screen.
Enter the 10-digit reference number received via SMS.
Input the six-digit PIN provided by the sender.
Enter the amount of money that was sent (it must match exactly).
Complete the withdrawal and collect the cash.

ABSA Cash Send Withdrawal Limits

One of the essential aspects of using the ABSA Cash Send service is understanding the withdrawal limits. These limits are put in place to ensure security and to prevent potential misuse of the service.

Daily Withdrawal Limit:

The maximum amount that can be withdrawn per day using ABSA Cash Send is R3,000. This is a safety measure to control the amount of money that can be transferred and withdrawn in a single day.

Minimum Withdrawal Limit:

The minimum amount that can be sent or withdrawn using ABSA Cash Send is R20. This allows flexibility for those sending smaller amounts of money.

Transaction Expiry:

It’s important to note that if the money is not withdrawn within 30 days, the transaction will expire, and the funds will be returned to the sender’s account.

ABSA Cash Send Withdrawal Fees

ABSA Cash Send is a convenient service, but there are fees associated with sending money. It’s essential to be aware of these fees before using the service, as they can vary based on the amount of money being sent.

Fees for the Sender:

Sending amounts up to R1,000: A flat fee of R16 is charged for each transaction.
Sending amounts between R1,001 and R2,000: The fee increases to R32.
Sending amounts above R2,000: The fee will rise based on the amount sent, with a maximum fee of around R64 for the higher transfer amounts.

Fees for the Recipient:

The good news is that there are no fees for the recipient when withdrawing the money. The only charges involved are on the sender’s side.

These fees are competitive, especially considering the convenience of sending and receiving money using just a cellphone number and an ATM. However, if you use the service frequently, it’s important to factor these costs into your budgeting.

Advantages of ABSA Cash Send Withdrawal

ABSA Cash Send Withdrawal offers several advantages for both the sender and the recipient. Here are some of the key benefits:

No Bank Account Required: The recipient doesn’t need to have a bank account or even be an ABSA customer to receive the money.
Convenient and Fast: Money can be sent and withdrawn in a matter of minutes, making it ideal for urgent situations.
Secure Transactions: The service is protected by a six-digit PIN and reference number, ensuring only the intended recipient can access the funds.
Available 24/7: The service can be accessed anytime, allowing for round-the-clock transfers and withdrawals.
Wide Accessibility: With ABSA ATMs available across South Africa, recipients can easily access their funds from most areas.

Disadvantages of ABSA Cash Send Withdrawal

While ABSA Cash Send is incredibly convenient, there are a few limitations and potential drawbacks to consider:

Withdrawal Limits: The R3,000 daily withdrawal limit might be restrictive for users looking to send larger amounts in a single transaction.
Transaction Fees: While the fees are reasonable, they can add up if you make frequent small transfers.
ATM Availability: The recipient needs to have access to an ABSA ATM to withdraw the funds, which could be a challenge in more rural or remote areas.
Expiry Period: The money must be withdrawn within 30 days, which may not always be convenient if the recipient is unable to access an ATM within that time.

Security Features of ABSA Cash Send Withdrawal

ABSA Cash Send Withdrawal has multiple security features in place to protect both the sender and recipient:

PIN Security: A six-digit PIN is required for the withdrawal, ensuring only the recipient with the correct PIN can access the money.
SMS Notifications: Both the sender and recipient are notified of the transaction via SMS, providing an additional layer of security.
Transaction Expiry: If the funds are not withdrawn within 30 days, the transaction is reversed to protect the sender from potential fraud.

These features make ABSA Cash Send a highly secure way to transfer funds, especially for those without formal banking accounts.

How to Maximize the Use of ABSA Cash Send Withdrawal

Here are some tips to help you get the most out of the ABSA Cash Send Withdrawal service:

Use for Urgent Situations: The speed and convenience of Cash Send make it ideal for sending money in emergencies or when the recipient needs cash quickly.
Be Aware of Limits: Always keep the R3,000 daily withdrawal limit in mind, especially if the recipient expects a larger amount.
Plan for Fees: If you plan on using the service frequently, be mindful of the transaction fees and factor them into your budget.
Ensure Recipient Has ATM Access: Make sure the recipient has access to an ABSA ATM before sending the money, especially if they live in rural or remote areas.

The ABSA Cash Send Withdrawal service is an efficient and secure way to transfer money to anyone in South Africa, even if they don’t have a bank account. Understanding the withdrawal limits, fees, and security features will help you use the service effectively.

Whether you need to send money for an emergency or to assist someone without banking access, ABSA Cash Send offers a reliable solution.

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ABSA Cash Send Withdrawal Limits and Fees: A Complete Guide