Updated 01.02.2023

How Does Standard Bank Instant Money Work?

Standard bank instant money service makes it easy for you to access financial services in South Africa. Standard Bank Group Limited is a major bank and financial services institution in South Africa. It is the biggest lender by assets in Africa. Among other services provided by Standard Bank Group Limited in South Africa, the bank also has a cardless service known as instant money service. Instant money service is a fast and convenient method of receiving and sending money. 

Since innovation and access to a financial institution is a key pillar for Standard Bank, the group has expanded its retail footprint to provide its customers with more options for using instant money, making transactions fast and more convenient. The bank has partnered with some of the major retailers and select spaza shops in South Africa, growing its footprint to more than 15,000 cash-out points around the country. These retail establishments include Boxer, Builders, Cambridge food, Checkers, Game, OK Furniture, Pep Stores, among others.

The instant money products range from the personal instant money wallet, and business bulk payments solution, to instant money transfers on standard bank channels and retailers. Their services also cater to Standard Bank account holders as sometimes you may be short on cash in remote areas with no shopping centers.

How Does it Work?

The Standard Bank Instant money is a simple EWallet that offers customers cash instantly. Standard Bank cellphone banking or App may be used to send cash instantly. In order to qualify for Standard Bank EWallet services in South Africa, you need a Standard Bank account. Once you open an account with the bank, you may access instant money using these steps:

  • Dial *120*212# to open your Standard Bank Instant Money 
  • Enter your South African identification number and create a unique wallet pin for your Instant Money 
  • You can load your money and thereafter send money on Instant Money Wallet through internet banking, cell phone banking, Standard Bank App, retail partners, as well as ATMs.
  • When your money is sent, your recipient will get a unique voucher number and pin, allowing them to collect the money at any Standard Bank ATM location or retail partner.
  • You may reset your cash collection pin if it is forgotten or lost. 
  • You may also reset your wallet pin.
  • Standard Bank allows you to send up to R5 000 a day.
  • Your transaction history is provided 
  • You may cancel or reverse your transaction if need be.

How to Send Instant Money with Standard Bank Mobile App 

  • Open your Standard bank banking App on your device and sign in or register.
  • Press the transact icon displayed on your device.
  • From the transact icon, choose the send option with the money icon.
  • Select the “send a voucher to someone else” option, if you want to send the money to another person, or select the “send the voucher to yourself” option, if you want to send it to yourself.
  • Choose the person you want to send money to from your contact list, or you may also add the phone number of the person you want to send money to.
  • Indicate the amount of money you wish to send, ranging between R50.00 to R5,000.00

How to Send Instant Money with the Standard Bank Cellphone Banking 

  • Dial *120*2345* on your mobile phone device 
  • Enter your cellphone banking pin, usually 4 digits. If you wish to generate a new pin for your cellphone banking, you may reset your pin. Simply enter your USSD, select “instant money”, then choose “change collection pin”.
  • Choose option 4 “send money”
  • Enter the cellphone number of your recipient 
  • Then enter the amount of money that you would like to send to the recipient 
  • Press send, and the money will be sent instantly.

How to Reverse the Standard Bank Instant Cash Voucher 

In the event that you send a voucher to the wrong recipient, or you want to cancel your transaction for other reasons, Standard Bank Instant Money allows you to reverse your transaction. There are three ways of reversing an instant money transfer as described below:

Reversing a Standard Bank Instant Cash Voucher Using the Banking App 

  • Dial *120*2345# and enter your 4-digit cellphone banking pin 
  • Select “payments and transfers” from the menu, then press “Instant Money”
  • Select “cancel voucher”
  • A list of available vouchers that you used previously will be displayed 
  • Select the voucher that you would wish to cancel 
  • Enter your 4-digit cash collection pin to confirm your cancellation 

Reversing Standard Bank Instant Cash Voucher Using Internet Banking  

  • Sign in to your device and go to the ‘Transact’ tab 
  • Select “Pay” and then choose “Instant Money” from the menu 
  • Once you click on “Manage Voucher”, a list of your active vouchers will appear on your screen 
  • Select the voucher you would like to cancel, below it, the “Delete Voucher” option will appear, click on it.
  • Enter your 4-digit cash collection pin to confirm the cancellation.

Reversing a Standard Bank Instant Cash Voucher Using Cellphone Banking 

  • Dial *120*212# to enter your 5-digit wallet pin 
  • Select “Manage Vouchers”
  • Choose “Cancel voucher”
  • A list of your available active vouchers will be displayed 
  • Select the voucher that you would like to cancel 
  • Enter your 4-digit cash collection pin to cancel your transaction.

How to Top Up your Standard Bank Instant Money Wallet 

You can upload money, confirm your balance, and withdraw money from your Instant Money EWallet through internet banking, cellphone banking, bank App, ATMs, and retail partners.

How to Top Up on your Instant Money Wallet at a Merchant 

Visit your nearest merchant and give them your original South African identification card, phone number, and the amount of money you wish to deposit, as well as the sending fees. You may be required to provide the merchant with information about your funds.

How to Withdraw Instant Money as Cash 

  • Visit a Standard Bank ATM or a selected retailer. 
  • Select “Withdraw money” 
  • Enter the amount you want to withdraw 
  • Enter your 4-digit voucher pin.
  • You will receive an instant money voucher alert via SMS.
  • Select the voucher to be redeemed.
  • Enter your pin and collect your cash from the ATM or a participating retailer.

The Standard Bank Instant Money service makes sending money throughout South Africa simple. You can send money to anyone, including those who do not have bank accounts.


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Job is a seasoned writer with a good understanding of the emerging markets, Africa to be specific.