What is a transfer?

A transfer is a way of moving money between your Absa accounts. They are also known as ‘interaccount’ transfers.

For example, if you have a cheque account and a savings account, you can move money between these accounts instantly.

Some accounts cannot do transfers. For example, you cannot transfer money out of a Fixed Deposit savings account during the term of the deposit.

Transfers are processed immediately. Your money usually moves between the two accounts in a few seconds.

You can make as many transfers as you need to, as long as the total of all the amounts you transfer stays below the daily interaccount transfer limit set for your online banking service (see ‘Where do I set my daily transfer limit?’).

Transfers are very useful for managing your savings or your credit card.