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- You can now deposit cash directly into your bank account at any Pick n Pay till point.
- Customers can make deposits of up to R5,000 per transaction at a standard fee of R19,95.
- While customers have been able to withdraw money at Pick n Pay outlets for years, deposits are new.
- For more stories visit Business Insider South Africa.
You can now deposit cash directly into your bank account at any Pick n Pay till point nationwide, including the retailer’s clothing stores.
While customers have been able to withdraw money at Pick n Pay outlets for years, deposits at till points is a first for the retailer.
Richard van Rensburg, Chief Information Officer at Pick n Pay, says that while many customers are choosing to use online banking, many South Africans rely on bank branches or ATMs for services, such as cash deposits.
“Deposits at till points will provide easy access for customers who don’t have a bank branch or ATM in their area, which will save them time and money they would have spent on transport. Our stores will also provide a safe environment to deposit their cash, seven days a week,” says van Rensburg.
Other role-players involved in the service include Visa, Mastercard and Absa. Customers can deposit a maximum of R5,000 per transaction at a set fee of R19,95, regardless of the amount deposited. Deposits will reflect immediately.
Here’s how it works:
- You need to inform your cashier that you would like to make a deposit and specify the amount.
- Once the cash has been handed over, insert the card linked to the account into the card reader.
- Follow the prompts and enter your pin.
- You will receive a receipt once your transaction has been processed.
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