Sending cash using ABSA’s CashSend feature is a straightforward process that allows individuals to send money securely and quickly to anyone with a mobile phone number, without the need for the recipient to have a bank account.
This service can be utilized via ABSA Online Banking, the ABSA Banking App, or through USSD codes for those without access to the app or internet banking.
Using ABSA Online Banking or the ABSA Banking App
To send cash using these platforms, log into your ABSA online banking account or app, navigate to the ‘Payments’ section, and select ‘CashSend’.
From there, you will need to enter the recipient’s mobile phone number, the amount you wish to send, and create a 6-digit access code which the recipient will use to withdraw the cash from an ABSA ATM. The recipient will receive an SMS with a 10-digit reference number and the access code.
Using USSD for Cellphone Banking
If you prefer using USSD, dial 1202272# from your mobile phone, log in with your 5-digit PIN, and select the ‘CashSend’ option.
You’ll then enter the recipient’s mobile number, the amount, and a 6-digit access code. The transaction limits for USSD transactions are usually set for daily and monthly maximums, ensuring the service is used within safe financial bounds.
Costs and Limits
ABSA CashSend transactions are subject to certain limits and fees.
For instance, you can send up to R5,000 per day and a maximum of R25,000 per month for each recipient. Transactions are usually available for withdrawal for 30 days only. A nominal fee is charged for the service, making it an affordable way to send money.
Withdrawing Cash
Recipients can withdraw the money sent via CashSend at any ABSA ATM with the CashSend option.
They need to select ‘CashSend’ followed by ‘CashSend Withdrawal’, enter the 10-digit reference number, the 6-digit access code, and the exact amount sent to them. Withdrawals must be made in full, as part withdrawals are not permitted.
Canceling a CashSend Transaction
If for any reason you need to cancel an unredeemed CashSend transaction, you can do so via your ABSA Online Banking or the ABSA Banking App. Navigate to the ‘Beneficiaries’ or ‘Payments’ section, find the specific transaction, and select the option to remove or cancel the CashSend.
ABSA’s CashSend is a versatile and convenient service for sending cash to friends, family, or employees efficiently. It emphasizes security and ease of use, allowing transactions to be completed without the need for the recipient to have a bank account.
This service underscores ABSA’s commitment to providing accessible banking solutions that cater to the needs of its diverse customer base.
