Everything you need to know about Shoprite money transfer

Everything you need to know about Shoprite money transfer

Shoprite money transfer services help people manage their money management. It allows you to send and receive money instantly in more than 100 countries worldwide, including South Africa. Many South Africans use Shoprite money more than other fund transfer methods.

Shoprite money transfer
Shoprite is South Africa's largest food retailer and wholesaler. The company has also invested in e-commerce and Electronic Funds Transfer (EFT) services. Photo: @mark_alban (modified by author)
Source: Twitter

Shoprite money services allow businesses to send payments to multiple receivers. Other fund transfer alternatives restrict senders to one transaction at a time, thus inconveniencing companies. Businesses need money transfer services that can handle multiple transactions at once.

Everything you need to know about Shoprite money transfer

The Shoprite Group of Companies has around 3,000 stores across 15 countries in Africa and the Indian Ocean islands.

What services does Shoprite (SA) provide?

These services support numerous business transactions in Mzansi. You can stay indoors for an entire month while relying on the money transfer services at Shoprite to buy items online. People use Shoprite funds transfer services to:

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  • Pay prepaid electricity bills
  • Buy bus and flight tickets
  • Purchase airtime and data
  • Buy groceries
  • Deposit, withdraw and send cash

How can you access Shoprite money services?

The services are accessible to companies and people who are 18 years old and above. You can start using Shoprite services immediately after your registration is successful.

1. Individual registration

You must have a valid South African identity card and an active cell phone number. Here is how you register for Shoprite money services as an individual:

(a). Visit the nearest Shoprite money transfer and withdrawal point to open an account. Bring the mentioned documents with you.

Shoprite money transfer
Millions of South Africans use Shoprite EFT, for it is fast and reliable. The company's cash collection points are easily accessible and equally distributed countrywide. Photo: @PaymentsAfrika
Source: Twitter

(b). Alternatively, dial *134*3534# and follow the prompts to open a funds transfer account.

Registration is free and available to everyone irrespective of your sim card's mobile network, device or connectivity.

(c). You can also visit Shoprite's official website

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  • Click on the SIGNUP button at the top right corner.
  • Enter your email and click NEXT.
  • Provide your name, surname, phone number, and SA ID number, then tap NEXT.
  • Follow the prompts until you create an account.

(d) Does Shoprite have a money transfer app? Yes. Download the app and follow the prompts to create an account.

2. Business registration

Here is how you register and use these money transfer services as a business:

  • Send an application email to srmsupport@shoprite.co.za using Bulk Disbursements as your headline. Include your company's details in the email.
  • Shoprite will respond with an email containing its banking details and a recipients'' document. List your recipients and the amount of funds each one of them should receive.
  • They disburse funds to your recipients' wallets once they receive your payment in their bank account.
  • Each recipient receives the money accompanied by a Shoprite SMS notification.

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How to transfer money at Shoprite

What types of transfers can you make with Shoprite? The company has three international fund transfer alternatives. All of them are safe, reliable, fast, and easy to use. Shoprite's money transfer terms and conditions apply in all transactions:

1. Bank transfers: Send and receive funds via a bank account.

2. Cash pickup transfers: Transfer money through a cash collection point. Find out if your recipient's country has Shoprite's cash collection points.

3. Mobile money transfers: Send and receive funds using a mobile wallet.

How do I make an international money transfer with Shoprite?

Shoprite money transfer
Its mobile app allows people to transfer funds overseas at a fair forex exchange rate. Recipients do not pay withdrawal fees. Photo: @ShopRite
Source: Twitter

The transfer method you choose should be accessible to your recipient. For instance, you cannot use Shoprite's bank transfer services to send funds to a recipient's bank account if that account does not exist. Use these steps:

  • Log in to your money transfer account.
  • Choose a funds transfer alternative you prefer.
  • Enter your recipient’s details, such as the name, bank account, and contacts.
  • Enter the amount you would love to send.
  • Review your transaction's details before submitting the transfer request.

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How to transfer money from Capitec to Shoprite

Sending cash R40 - R1,000 using Capitec bank's mobile money transfer costs R7.50. Alternatively, sending cash between R1010 - R3 000 through the Capitec app costs R15. Here is the process:

1. Capitec app

  • Download the Capitec app and register.
  • Click on TRANSACT, then SEND cash and enter your PIN.
  • Click on SEND, then tap FROM account and enter the amount to send.
  • Fill in a 4-digit secret code (the recipient will use it at the withdrawal point to withdraw the cash)
  • Tap NEXT and read Capitec's terms and conditions and then click ACCEPT.
  • Click on YES to confirm the transaction and wait for a confirmation SMS that has a reference number.
  • Send the reference number and secret code to the recipient in separate messages.

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2. Capitec mobile banking

  • Register for Capitec registered for mobile banking.
  • Dial *120*3279# and choose 9.
  • Accept the terms and conditions and choose 1.
  • Select FROM account and enter the amount to send.
  • Create a 4-digit secret code and enter your PIN
  • You will also receive a reference number and secret code via SMS. Forward these numbers to the recipient.

Where can you withdraw Shoprite money?

Shoprite money transfer
Shoprite's app allows customers to transfer funds, buy consumer goods, share coupons, and do more things. Photo: @SBEswatini (modified by author)
Source: Facebook

Withdraw funds instantly from tellers at Shoprite, Checkers, Usave, Checkers Hyper, Standard Bank and ABSA branches. Provide the teller with your money transfer number, RSA ID book or card and use the correct PIN.

When does Shoprite money transfer expire? The funds you send have no expiration date. So, how long does Shoprite money transfer last? The money is returned to the sender after nine months from the transfer date if the recipient does not withdraw it.

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Benefits of using Shoprite money transfer service

What are Shoprite's exchange rates and fees? The company partnered with OFX, a global foreign exchange company, to offer customers competitive exchange rates and lower fees than banks and other fund transfer service providers. Here are more benefits:

  • Send or withdraw funds from any Shoprite store in over 100 countries worldwide.
  • Shoprite's foreign exchange rates support 52 currencies.
  • There are no withdrawal charges to the recipient or deposit charges unless a person makes a transfer.
  • No bank account is needed for deposits or withdrawals.
  • Send as little as R1 to R5,000, and the monthly limit for remittance is up to R25,000.
  • Shoprite's working hours are much longer compared with banks.
  • There is complete forex exchange rate transparency and email alerts.

Shoprite money transfer boosts South Africa's economic growth. It is a life-saving service in emergencies since it enables funds to circulate faster in urban and rural areas.

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READ ALSO: SASSA payments 2021: All your important questions answered

Briefly.co.za shared essential details about SASSA payments 2021. The government introduced the Covid-19 Social Relief of Distress Grant on 6th August 2021.

The South African Social Security Agency already disbursed funds for the grant's first batch of applicants. They will receive R350 per month for six months.

Source: Briefly.co.za

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