How to Transfer Money in Bank Zero

The South African banking sector has seen tremendous innovation in recent years, with Bank Zero standing out as a fully digital, app-driven bank. As a no-fee, branchless bank, it offers South Africans a modern way to manage money without the extra costs traditional banks charge.

One of the most important features customers look for is how to transfer money in Bank Zero. Whether you want to send funds to another Bank Zero user, transfer to another bank, or make payments using different digital channels, Bank Zero has made the process seamless, fast, and secure.

This article provides a step-by-step guide on how to transfer money in Bank Zero, including fees, timelines, safety tips, and troubleshooting.

Why Choose Bank Zero for Money Transfers?

Before we dive into the “how,” let’s understand why more South Africans are choosing Bank Zero for transfers:

• Zero monthly banking fees – cost savings for users.
• Free Bank Zero-to-Bank Zero transfers.
• Low-cost EFTs to other South African banks.
• Instant payments available for quick transfers.
• Advanced security with real-time app notifications.
• User-friendly mobile app instead of complex banking systems.

Ways to Transfer Money in Bank Zero

Bank Zero supports several transfer options:

1. Bank Zero-to-Bank Zero transfers (internal transfers).
2. EFT transfers to other banks in South Africa.
3. Immediate Payments (real-time clearing).
4. Debit order payments and scheduled transfers.
5. Bill payments and QR code payments.

Let’s go through each of these step by step.

 1. How to Transfer Money to Another Bank Zero Account

This is the easiest and fastest type of transfer, and it’s completely free.

Steps:

1. Log in to your Bank Zero mobile app.
2. On the home screen, select “Payments”.
3. Choose “Transfer to Bank Zero account”.
4. Enter the recipient’s Bank Zero account number.
5. Type the amount you want to transfer.
6. Review and confirm the payment.

Processing Time: Instant.
Fee: Free.

2. How to Transfer Money to Other South African Banks (EFT)

Bank Zero supports EFTs (Electronic Funds Transfers) to all major banks.

Steps:

1. Open the Bank Zero app.
2. Tap on Payments → EFT Transfer.
3. Enter the recipient’s bank details (bank, account number, account type).
4. Select Standard EFT.
5. Enter the amount.
6. Review and confirm with your PIN.

Processing Time: 1–2 working days.
Fee: Free.

3. How to Transfer Money Using Immediate Payments (Real-Time Clearing)

Sometimes you need the money to reflect instantly. For that, Bank Zero offers Immediate Payments.

Steps:

1. Log in to the app.
2. Select Payments → EFT Transfer.
3. Enter the recipient’s bank details.
4. Select Immediate Payment instead of standard EFT.
5. Enter the amount.
6. Confirm the transaction.

Processing Time: Within minutes.
Fee: Around R7–R10 per transaction.

4. Scheduled Transfers and Debit Orders

Bank Zero also allows you to schedule transfers or set up debit orders for recurring payments (like rent, subscriptions, or school fees).

Steps:

1. Open the app and go to Payments.
2. Select Schedule Transfer/Debit Order.
3. Enter the recipient’s details.
4. Choose the frequency (daily, weekly, monthly).
5. Enter the amount.
6. Save and confirm.

Benefit: Avoids missed payments and automates financial management.

5. Paying Bills and QR Code Transfers

Bank Zero also supports bill payments and scan-to-pay QR payments, a convenient way to pay retailers, service providers, and utilities.

Steps (QR Pay):

1. Open the Bank Zero app.
2. Tap on QR Payments.
3. Scan the merchant’s QR code.
4. Enter the amount.
5. Confirm payment.

Steps (Bill Pay):

1. Select Payments → Pay Bills.
2. Choose the biller (DSTV, Telkom, Eskom, etc.).
3. Enter your account/reference number.
4. Confirm the amount and process payment.

Bank Zero Transfer Fees (2025)

Transfer Type	Fee	Processing Time
Bank Zero-to-Bank Zero Transfers	Free	Instant
Standard EFT to Other Banks	Free	1–2 business days
Immediate EFT (Real-Time Clearing)	R7–R10	Within minutes
Debit Orders & Scheduled Transfers	Free	Set date
QR Code & Bill Payments	Free/Low-cost	Instant–48 hrs

 

Safety Tips When Transferring Money in Bank Zero

Bank Zero uses modern security features, but users must still practice safe banking:

1. Always verify recipient details before confirming.
2. Enable real-time notifications to track transactions.
3. Use strong passwords and avoid reusing your PIN.
4. Log out of the app after every session.
5. Report fraud or suspicious activity immediately to Bank Zero support.

Common Issues and Troubleshooting

• Transfer Delays: Standard EFTs may take up to 48 hours.
• App Not Responding: Check your internet connection or restart the app.
• Wrong Details Entered: Contact Bank Zero immediately to try and reverse the payment.
• Immediate Payment Fails: May occur due to recipient’s bank not supporting real-time clearing.

Bank Zero Customer Support

For assistance with money transfers:

• Email: support@bankzero.co.za
• In-app chat support: Available in the app.
• Website: www.bankzero.co.za

The Future of Money Transfers with Bank Zero

Bank Zero continues to evolve, and upcoming features may include:

• Cross-border transfers for international payments.
• Integration with digital wallets like Apple Pay & Google Pay.
• Expanded QR partnerships for wider retail acceptance.
• AI-driven fraud detection for safer transfers.

Transferring money with Bank Zero is fast, free, and user-friendly. From zero-cost internal transfers to affordable real-time payments, Bank Zero ensures customers can move money efficiently without the traditional banking fees.

If you want affordable, secure, and app-driven banking, then Bank Zero is an excellent choice for both personal and business users.