On the earning interest question, different banks appear to behave differently. Some take the transaction date, others the day the money lands in your account. If you do an EFT, you must try do it before noon, else your money can take an extra day to get to its destination (so 48hrs instead of 24). Some banks seem to collaborate and others not. So transferring from Nedbank to say FNB usually takes 2-3 days whereas Nedbank to Standard can be as fast as 12hrs. Sometimes it's even slower if there are week-ends or public hols involved and again other banks don't make any distinction. If this is something you are going to be doing regularly, don't expect the lead time to change - just always get your transaction in before noon - or find another way. Most transfers start running at midnight but 'disconnected' banks seem only to see your transfers lodged 12hrs before!
68 mths ago