South African supermarkets are moving with the times and expanding their offerings to include cash deposits for major banks…

Customers can now deposit cash directly into their bank card at the till point in any Shoprite, Checkers or Usave store.

This adds to their current banking service offering like cash withdrawals, money transfers, and bill payments- this new functionality makes the Shoprite group a one-stop shop for all your basic banking needs.

“Together with a range of in-store Money Market services, this new functionality means we’re now able to process an even greater number of financial transactions, making our supermarkets a real one-stop shop,” says Jean Olivier, General Manager: Financial Services for the Shoprite Group.

Cash deposits at till points will not only offer convenience but competitive pricing as well with low transactional fees.

The roll-out will take place across all 1700 stores in South Africa making transactional banking that much more accessible especially in remote or rural areas in SA where banks and ATMs are scarce but there’s a Shoprite close by – not to mention extended banking hours based on the store’s trading hours.

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Till points will be able to accept cash deposits of up to R3 000 point – at a flat rate of R19.95 per transaction.

A list of the banks who offer the service:

  • Nedbank
  • FNB
  • Investec
  • Standard Bank
  • African Bank
  • Tyme Bank
  • Discovery Bank
  • Bidvest Bank
  • Sasfin
  • Grobank

Customers simply have to present their Visa or MasterCard card at any till point, along with the cash they want to deposit, enter their PIN, and the cashier will handle the rest.

The Shoprite Group becomes the second supermarket to offer this service after Pick n’ Pay who has offered the service since July last year and allows for a maximum deposit of R5000.

 

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