Pick n Pay

Photo by Galllo Images / Sunday Times / Kevin Sutherland

Pick n Pay to offer cash deposit services at stores countrywide

On top of being able to withdraw cash at Pick n Pay stores, customers will can now deposit up to R5 000 into their bank accounts.

Pick n Pay

Photo by Galllo Images / Sunday Times / Kevin Sutherland

Pick n Pay customers can now deposit cash directly into their bank accounts at store till points anywhere in the country, with the retail giant adding to their money market offerings that already allow customers to withdraw cash at stores. 

The retailer said that they are aiming to become a “one-stop-shop” for customers to conduct their banking at the same time as they go about their daily grocery shops. 

How to deposit cash at Pick n Pay stores: 

Pick n Pay said on Wednesday 8 July that the process is dead simple: 

  • Specify the amount of cash you want to deposit into your account and hand it over to the cashier;
  • Insert the card linked to your account into the Pick n Pay; 
  • Follow the prompts and enter your pin;
  • Once the transaction is processed, take your receipt for the deposit. 

It’s worth noting that only as much as R5 000 can be deposited per transaction, and there is a set transaction fee of R19,95 for this service, irrespective of the amount deposited.

Retailer aims to become ‘one-stop-shop’ for shopping and banking

In 2019, over R36 billion worth of withdrawals from their food and clothing outlets were made, with the latest banking service set to bolster their strategic partnership with TymeBank and include more financial solutions to customers. 

Richard van Rensburg, Chief Information Officer at Pick n Pay said that the latest offering would allow customers access to a convenient service. 

“We want to make banking services more accessible and convenient for customers, and offering these value-added services helps us do this due to the location and network of our 1700 stores.”

Deposits at till points will provide easy access for customers who don’t have a bank branch or ATM in their area, which will save them time and money they would have spent on transport. Our stores will also provide a safe environment to deposit their cash, seven days a week,” says van Rensburg.