Pep Money Transfer lets you send and receive money in South Africa and abroad.
The facility is offered by Pep Money, a financial services division of Pep Stores.
Pep Money offers a wide range of services which includes apply for a loan, transfer money, buy tokens, pay accounts, get insurance and so on.
But we’ll only focus on the benefits of using Pep money transfer in this article.
Without any further ado, let’s get started.
What’s the benefits of using Pep Money Transfer?
The money transfer allows people to send money securely to anyone’s cellphone number.
The facility is sometimes referred to as “mobile banking” because there are no bank accounts involved.
It’s very cost effective and convenient for people who doesn’t banking accounts but want to send money.
With Pep Money, you can transfer up to R1 500 per transaction a fixed fee of R9.99.
If you want to make multiple money transfers, you have a limit of R3 000 to send per day.
And in total, you can transfer money up to R25 000 per month.
All of these at a flat fee of R10.
Now that’s cheap!
There are no banking-admin fees and withdrawal fees.
Your family and friends would get the money instantly.
How to apply for and use the Pep Money Transfer?
It’s easy to apply for Pep money.
Take your ID book to any of your nearest Pep stores. Don’t forget the cellphone number which you’d to send money to – it’s very important.
Present everything (ID, Cellphone Number and Money) to a cashier and tell them you want to send money.
A cashier will then ask you to put in a 4-digit pin of your choice to protect the transaction.
Once done, you’ll get a receipt with a voucher/withdrawal number.
Now, send the withdrawal number (10-digit number), the submitted pin and amount to collect to a recipient (family, friend or whoever).
It’s time for them to collect money.
There are couple of ways you can do that.
Money can be collected at Shoprite, Checkers, USave or ABSA ATM.
The process of collecting money from Shoprite, Checkers and USave is simple.
Simply visit any of them and present voucher number to the cashier.
You’ll be asked to enter a 4-digit pin and get money in cash.
It’s that simple.
How to withdraw Pep Money from ABSA ATM
People still find collecting money at ATM a bit confusing, but we’ll make it easy for you.
- Visit any of the ABSA ATM that offers CashSend facility.
- Select CashSend on the welcome screen followed by CashSend Withdrawal.
- Enter the voucher/withdrawal number followed by the pin.
Once everything has been verified, money will be made available to you.
- You can only withdraw the full amount.
It’s not difficult at all.
Known Pep Money Transfer Problems
Pep Money customers had issues with money transfer in the past which the retail giant resolved already.
However, it would be silly for us to not acknowledge them to help other customers be aware of them.
# Unable to withdraw from ABSA ATM
Pep, on their Facebook business page acknowledged the fact that some customers have been unable to collect cash from ABSA.
Pep says it was a technical issue which has been resolved.
If you still can’t cash out funds from the ATM, contact Pep call centre for more detailed information.
# Pep Money Transfer expires
Your money will be stored forever linked with your cellphone number.
Yes, many customers claim money gone missing.
But Pep says, the only way your money could go missing, is when the recipient collects the money and claim the money wasn’t there.
Only your pin expires. The pin is valid for a full year from the day you sent money.
If this happens to you, contact Pep Money division and claim your money back.
However, the company will investigate the matter for you. A case of theft might be opened during the investigation findings.
Pep Money Call Centre
If you have queries about Pep Money Transfer, contact support on 0860 77 77 65.
A consultant will walk you through the process and help you with any information you may need.
Alternatively, visit www.pepstores.com and read more about Pep Money.