Steps to Send and Receive Money in South Africa

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Steps to Send and Receive Money in South Africa

With rapid developments and advancements made in several key areas of the financial industry, especially in South Africa and several other African countries, there is a new payment method that has shown to be one of the fastest, safest, and most cost-effective solutions for users.

Sikhona Money Transfers, a division of Sikhona Forex (Pty) Ltd, is an authorised dealer with a limited Authority license issued by the South African Reserve Bank, allowing users to send and receive money to over 162 countries around the globe.

This also comes accompanied by a distribution network of more than 440 000 points of presence. Sikhona offers Cash Pick-Up, Deposits, and Mobile Wallet Top-ups through which money can be sent, while Bank Account Credits as well as Cash Collection is used for receipt of cash.

Sikhona Money Transfers is a company known for high level of service as well as competitive exchange rates, generating recurrent business and referrals provided by a team of professionals who have decades of experience in the industry.

Steps to Send and Receive Money in South Africa

How can you Send and Receive Money in South Africa?

How To Register

The registration process with Sikhona Money Transfers is simple and quick when following these steps:

  1. Go to Sikhona’s official website or download the mobile app from Google Play Store or Apple Store
  2. Click on “Not Registered?”
  3. Fill in your personal details
  4. Upload clear images of your ID document and of yourself holding your ID document
  5. Once your registration is cleared, you can login to your profile with your cell phone number and pin. Your Pin will be sent to you via SMS.

Beneficiary Management

Once the registration is complete and you have been verified, you can navigate to your personal profile and select “add beneficiary” to add a new beneficiary to which you can send funds.

  1. Click on the plus button to add a new beneficiary
  2. Fill in the required details
  3. Fill in the beneficiary details and press the “complete” button

How To Send Money

To send money, you can follow these few steps:

  1. Select new or existing beneficiary
  2. Fill in the required information and the amount you wish to send before selecting “Get Quote”
  3. Once you are happy with the quote, you can select “Accept” followed by the “Complete” banner
  4. Enter beneficiary details if its a new beneficiary

How To Make Payments

  1. Once you have confirmed a transaction you will receive a payment reference or you will see the Payment Reference under the Transaction that you have just created.
  2. Pay for your transaction using this reference at one of our payment partners.
  3. Once you have paid you will receive a collection pin or you can see the Collection Pin under the Transaction you have just created
  4. Send this pin to the person receiving the money.

How to receive money

  1. Beneficiary will receive an SMS or Email with a link to follow the onboarding process
  2. Beneficiary will follow the steps to onboard:
  • Enter personal information
  • Upload clear images of your ID document and of yourself holding your ID document
  • Confirm details
  1. For Cash Pick-Up, the Beneficiary will receive an SMS from Standard Bank with a unique voucher number and unique pin for you to redeem the funds from Standard Bank ATM’s and affiliated Retailers
  2. For Bank Account Credit, the beneficiary will receive direct deposit into the bank account as provided

Also Read: The Secret To Levelling Up Your Business

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