Questions and Answers:

Why do I need your account?


Great question. There are so many reasons but let me give a few:
-You can link up to 4 cards on one account
-Send additional cards to family members anywhere in the world
-Send instant money to any of these cards whereever they are
-Payments between Money 247 accounts are free of charge
-No one can raise a debit order against your account - so your money is safe
For a full list please see our value proposition

How does it work?


An agent will open the wallet for you. The wallet is like any normal bank account where you can transact from any mobile phone using USSD or the web.
You can link up to 4 cards to your wallet and freely transfer between them.
You can send additional cards to family members and send money to them instantly.

My card was stolen. Will my money be lost and what can I do?


Don't worry. Your money is safe so long you never told anyone what you PIN code for the card is. Just follow these easy steps as soon as possible:
1. Log into your mobile banking app on www.money247.co.za or USSD *120*37566# and move your money back from the lost card to your wallet.
2. Call or send a whatsapp message to our friendly help desk staff at the following number: 083 798 9504 and ask them to cancel your old card and issue a new one to you.
3. Alternatively you can contact the agent who issued the card to you and he/she will be able to assist you.


What is my Account number


Your mobile number is your Account number

 

Where can I view my statement/transactions


By logging into your account at www.money247.co.za. Click on My Money then on Wallet and then on Transactions
You can also log into your account via your phone by dialing *120* 37566# and reply with 1 to view your Account balance and 2 to view your Card balance

Can I withdraw my money from the ATM when my salary or money has been paid into my account.


Yes, but only if the money has been loaded onto your card from your Account

Do I have to load money  on my card every time I want to make a withdrawal


No, you can load money on your card automatically. This means your card will automatically load money on your card from your Account . The amount loaded will be according to your “AUTOLOAD setting you implemented and which you can change at any time by logging into your account, click on My Money and then on Card. Then go to CHANGE AUTO LOAD  and select your auto load setting preferred.


I have deposited money into my account but there is no money on my Card when I want to make a cash withdrawal. What could be the reason for this?


Your auto load setting on your card could be zero which means the money will remain in your account and would require you to manually go onto your profile via internet or USSD and load your  card by clicking on” My Money”, then “Cards” and select “Fund”
Alternatively your account balance could be on a minus before the new funds were deposited. The auto load function will only work when the Account is not in a minus balance at time of deposit. Once your account has a zero or credit balance the auto load function will be functional and will funds being deposited automatically loaded to the card.

Can I change my password for my account


Yes, by logging into your Profile and clicking on your name in the left top corner of the webpage


How much can I withdraw at an ATM


R5000 per day and R25 000 per month. The daily limit per transaction is a maximum of R2 000

How much can I transfer to another account via EFT


There is no limit

Can I make a cash deposit into my Account


Yes, at any of the following Retailers at their PAY@ Counters and using reference number 11618 plus your full mobile number:
Checkers/Shoprite/PEP Stores/Pick n Pay/Boxer/Usave/Ackermans/Spar

Can I make a cash deposit into my Flex Card


No, you can only put money on your card by loading your card from your Money247 Account

When will my money reflect in my account when someone deposits money into my account via eft or Pay@


This can take between 24 and 72 hours. It  however normally take 2 full days. This is to allow funds to be cleared by the various Institutions.

Can I withdraw money from my Card into my Money247 Account


Yes by logging into your account and clicking on My Money, then Card and then on WITHDRAW.

Can I access my account via USSD (*120*) from any cell phone


No, you can only access your account via USSD from your OWN mobile Phone registered with Money247

What must I do if the USSD (*120*) does not work on my phone


The USSD number works on all phones. It however will not work on a cell phone linked to a data package alone. You would then need to purchase a prepaid AIRTIME package

Why must I pay a monthly fee


The monthly fee is payable to enable us to provide you with a full bank facility and support you remotely for your convenience. You are also provided with a mobile banking facility once again for your convenience. The fee also includes R5 000 funeral cover in case of your death, R5 000 commuter accidental death cover should this happen in public transport, a R3 000 repatriation cash benefit and up to R1 000 cover for ATM thefts incidents

When is the Monthly fee payable


On the 1st of every month your monthly fee is deducted from your account

Where can I view the Terms and Conditions of the Money247 Protection Plan?

 

You can view this by going into your Money247 profile and click on “MyMoney” and then on “My Protection Plan”

Who must I contact if I want to know how the Protection Plan or Funeral Plans are working?

 

You must contact Money247 direct at 083 798 9504 for any questions related to these benefits


How do I change my Money247 Account number in case I have changed my Mobile number?

 

You need to contact Money247 at whatsapp 083 797 9504 and request an Amendment Form or you can Download it here. You then need to complete this and send to Money247 direct to action the changes requested.

Still have questions?


Please send us your question on the Contact Form