Standard Bank Instant Money: A Complete Guide to Sending and Receiving Cash

Managing money should be simple, especially when you need to send cash to family, friends, or someone in need. Whether you’re paying a bill, helping a loved one, or making a quick transaction, Standard Bank Instant Money provides a hassle-free way to send and receive money across South Africa. Even if the recipient doesn’t have a bank account, they can withdraw cash instantly at ATMs or retail stores.

This guide breaks down everything you need to know about Standard Bank Instant Money, including how to send, withdraw, and cancel transactions, as well as the costs and safety tips to keep your money secure.

What is Standard Bank Instant Money?

Standard Bank Instant Money is a digital cash transfer service that allows customers to send money instantly to anyone in South Africa using their cellphone number. The recipient doesn’t need a bank account—just an SMS-enabled cellphone to receive the cash voucher. The money can then be withdrawn at a Standard Bank ATM, a retail store, or used for online transactions.

Key Benefits of Standard Bank Instant Money

• Instant transfers – Money is sent and received within minutes.
• No bank account needed – The recipient only needs a cellphone number.
• Wide accessibility – Cash can be collected at ATMs, retail stores, or used for digital transactions.
• Secure transactions – A one-time PIN (OTP) ensures that only the intended recipient can withdraw the money.
• Convenient access points – Withdraw at over 10 000 retail stores, Standard Bank ATMs, and partner outlets.

Learn More: How To Use and Download The Standard Bank Banking App

How to Send Money Using Standard Bank Instant Money

There are multiple ways to send money using Standard Bank’s Instant Money service:

1. Using the Standard Bank Mobile Banking App

If you’re a Standard Bank customer, you can send Instant Money directly from the Standard Bank app. Here’s how:

1. Log into your Standard Bank app.
2. Select “Send Money” and choose “Instant Money”.
3. Enter the recipient’s cellphone number.
4. Choose the amount you want to send.
5. Confirm the transaction by entering your PIN or using biometric authentication.
6. The recipient will receive an SMS voucher and OTP to withdraw the money.

2. Using Standard Bank Internet Banking

If you prefer banking on your desktop or laptop, you can use Standard Bank’s Internet Banking:

1. Log into your Standard Bank Internet Banking account.
2. Click on “Payments & Transfers”.
3. Select “Instant Money” and enter the recipient’s cellphone number.
4. Enter the amount to send and confirm the transaction.
5. The recipient will receive a voucher via SMS.

3. Using a Standard Bank ATM

If you don’t have access to mobile banking or internet banking, you can send money through a Standard Bank ATM:

1. Insert your Standard Bank card and enter your PIN.
2. Select “Instant Money” from the menu.
3. Choose “Send Money” and enter the recipient’s cellphone number.
4. Enter the amount to send and confirm the transaction.
5. The recipient will get a voucher SMS with a PIN.

4. Sending Money via USSD (For Non-Smartphone Users)

If you don’t have a smartphone, you can send money using USSD banking:

1. Dial *120*2345# on your cellphone.
2. Select “Instant Money” from the menu.
3. Enter the recipient’s cellphone number.
4. Enter the amount to send and confirm the transaction.
5. The recipient will receive a voucher and PIN via SMS.

How to Withdraw Standard Bank Instant Money

Once the money has been sent, the recipient can withdraw it using the voucher and OTP.

1. Withdrawing at a Standard Bank ATM

To withdraw cash at a Standard Bank ATM, follow these steps:

1. Go to a Standard Bank ATM.
2. Press “Cardless Banking” or “Instant Money” on the screen.
3. Enter the voucher number received via SMS.
4. Enter the OTP PIN (sent in a separate SMS).
5. Collect your cash.

2. Withdrawing at a Retail Store

You can withdraw money at over 10,000 retail partners, including Shoprite, Checkers, Pick n Pay, Boxer, and select Spar stores.

1. Visit the cashier and say you want to redeem Standard Bank Instant Money.
2. Provide the voucher number and OTP PIN.
3. The cashier will give you your cash.

3. Using the Money Digitally

Instead of withdrawing the money, recipients can also:

• Buy airtime or electricity using Standard Bank’s banking services.
• Use the voucher to pay for goods at selected retailers.

How to Reverse or Cancel an Instant Money Voucher

If you made a mistake while sending money, you can cancel the transaction before the recipient withdraws the funds.

To Reverse a Transaction via Mobile Banking App:

1. Open the Standard Bank app.
2. Select “Instant Money” and go to “Manage Vouchers”.
3. Choose the voucher you want to cancel.
4. Select “Cancel” and confirm.

To Reverse via USSD:

1. Dial *120*2345#.
2. Select “Manage Vouchers”.
3. Choose the voucher and confirm cancellation.

Standard Bank Instant Money Fees

While Instant Money is a convenient service, it does come with some fees. Here’s a general breakdown:

Fees may vary, so always check the Standard Bank website or app for the latest pricing.

What to Do If You Lose Your Voucher or PIN

If you lose your Instant Money voucher or PIN, you need to contact Standard Bank customer support immediately:

• Call Standard Bank Support at 0860 123 000.
• Visit your nearest Standard Bank branch for assistance.

If the money has not been withdrawn, you can cancel the voucher and resend the transaction.

Safety Tips for Using Standard Bank Instant Money

1. Never share your PIN or voucher number with anyone you don’t trust.
2. Ensure the recipient’s cellphone number is correct before sending money.
3. Withdraw money in a safe environment to avoid theft or scams.
4. Be cautious of fraudsters pretending to be Standard Bank representatives.
5. Always cancel unused vouchers to prevent unauthorized access.

Standard Bank Instant Money is a fast, safe, and convenient way to send money across South Africa. Whether you’re sending money to family, paying for services, or assisting someone without a bank account, this service ensures quick access to cash.

With multiple sending and withdrawal options, Standard Bank Instant Money provides flexibility for both senders and recipients. Just remember to stay safe, double-check recipient details, and use the service responsibly.

Related: How to Withdraw Money from Absa Cash Send: A Step-by-Step Guide