Shoprite, Checkers and Usave said it has ensured continued access to Money Transfer services to Lesotho and Eswatini amid the new EFT regulations
The retail giant said that its customers can continue to send money to Lesotho and Eswatini from all Shoprite, Checkers and Usave stores nationwide, even after the new regulations came into effect on 9 September 2024 which will impact electronic funds transfer (EFT) payments within the Common Monetary Area (CMA).
South African banks will cease processing EFT payments and collections within the CMA in response to new regulations and low-value cross-border payments will now be handled via a regional infrastructure payment system.
Despite these changes, Shoprite, Checkers and Usave customers can continue to safely and securely send and receive money to
CMA countries, including Lesotho and Eswatini, at more than 1,400 Money Market counters in stores.
“Shoprite Money Transfer services remain fully compliant with the new regulations, this reliable service continues to fulfill a critical need as it ensures customers can stay financially connected across borders without disruption,” the group said in a statement.
Steps to transfer money to Lesotho and Eswatini:
- Visit the Money Market counter in store with your required documents.
- South African citizens need: SA identity document and proof of residence (stamped & not older than 3 months).
- Foreign nationals need: Passport, proof of residence (stamped & not older than 3 months), and work permit.
- Send up to R5,000 a day and R25,000 per month. Only cash payments are accepted, no cards are allowed.
- There is a R25 service fee and no charges at collection.
- A reminder that domestic Money Transfers within South Africa continue as per normal.
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