Funding the Unimet Wallet

Funding the Unimet Wallet

How do I get funds into my wallet?

There are many options available to our consumers for adding funds to the wallet. A consumer can select to use any one of these options according to their needs at any time.
Please note that each option attracts different banking channel fees. Click here for more details about that.

Cash at an ATM.  

A cash deposit can be made any ATM of ABSA, FNB, Nedbank or Standard Bank. You will need to know our bank details (see below) and you will need to have handy your wallet reference so that can be used as your payment reference. 

Electronic Funds Transfer (EFT) via an ATM.

Did you know that if you don't have online banking to do an EFT using the bank's online banking profile, you can still do an EFT at an ATM?
Let's say you bank with ABSA but you don't yet have an online banking profile. You would not want to draw cash from your ABSA account only to deposit that same cash into Unimet's ABSA account. That costs too much in wasted cash withdrawal and cash deposit fees. It is much safer, quicker and cheaper to use your bank card at the ATM to perform a transfer of money from your ABSA account to Unimet's ABSA account.
This same functionality is available at all the banks. 

Electronic Funds Transfer (EFT) via online banking.

An EFT is only possible once you have already set up an online banking profile with your bank. Once you have registered your online banking profile, we advise that you create Unimet as a payment beneficiary. This means that your online banking profile will save our banking details as well as your payment reference so that you don't need to remember these details every time you make a payment.
Please make sure that you use the 100% correct payment reference.
If the bank that you are banking with, is also one of the banks that Unimet holds an account with, we recommend that you link as a beneficiary our banking details of the same bank. eg. If you bank with FNB, then link Unimet's FNB details; if you bank with Nedbank, then link Unimet's Nedbank details. The reason that we advise this is because EFT payments made between accounts held at the same bank get processed fastest - practically in real time.

Credit Card payment online via the Unimet Smartzone.

If you hold a credit card, this can be used to fund your wallet directly from within the Smartzone. 

Debit Card payment online via the Unimet Smartzone.

If you hold a debit card, this can be used to fund your wallet directly from within the Smartzone.

SID Instant EFT payment online via the Unimet Smartzone.

SID Instant EFT is an alternative EFT payment option that can also be done directly from within the Smartzone. This option requires you to have a registered online banking profile, that you access directly through the Smartzone. The benefit of this payment option is that if you bank with Capitec, Investec, Tyme Bank, African Bank and Bidvest Bank (banks with which Unimet does not hold an account with), if you make an SID Instant EFT payment, your wallet will be credited with your payment immediately (compared to the standard EFT processing periods).

What are Unimet's Bank Details?

We have accounts with the four biggest banks in South Africa. We are also in the process of opening an account with Capitec Bank, that we hope will be finalised in the near future. 
ATM payments and EFT payments may be made to any one of the following bank accounts. 

Please do remember to use your correct wallet number as your payment reference.


What are Bank Channel Fees?

Banks in South Africa typically charge a fee for each transaction that they process on behalf of their clients. There are many different types of transactions, each with a different cost. Common transactions include Cash Deposits (in the bank or at an ATM), Electronic Funds Transfers (EFT), Debit Order Processing, ATM Cash Withdrawals, and many more.

Unimet strives to maintain the most efficient fees possible for our consumers. We are able to do so, by separating our prepaid vending fees from our banking fees. 
We charge our consumers a Bank Channel Recovery Fee for the payment method that they selected for each payment made. This is to recover the banking charges incurred in the processing of the payment received.
Since there are many different payment methods possible, each has its own fees. We allow our consumers to select the payment method that is most suitable for them at any time. Consumers have the choice and in so doing, can determine how best to keep their fees as low as possible.

Bank Channel Fees effective 2023-07-01

Below is the summary of the relevant charges that are levied per payment made.



Changes to Bank Channel Fees

Typically every bank change their fees on a regular basis. This is normally effected once a year, but bank charges can and do change per account according to banking policies. When Unimet's banking fees change, Bank Channel Fees are adjusted accordingly. These can happen at different times of the year, since each bank changes its fees at different times.

Where can I see what I was charged?

For every payment made into your Unimet Wallet a corresponding Bank Channel Fee is raised as an invoice. The details of the charges appear on the invoice, which can be accessed by the Unimet Online Portal (the Unimet Smartzone).
After logging into the Smartzone, click on the Main Menu in the top right-hand corner, select Wallet and click on the tab named Statement. To the right of each invoice are three little dots. Click on the dots and this will open up your invoice for you to see the details. 

How to keep Bank Channel Fees as low as possible?

Here are some tips to help you keep your Bank Channel Fees as low as possible:
  1. If you are paying by Cash Deposit or by EFT, make less payments each month. Since banks charge per transaction for Cash Deposits and EFT, the more payments you make, the more the charges will be. Let's say that you need to fund your wallet with R1000 every month, rather make one payment of R1000 than make 2x R500 payments or even worse 5x R200. The more transactions you generate the higher the total fees.
  2. Choose an EFT rather than a Cash Deposit. The most expensive option of all is a cash deposit payment. If a cash deposit is your preferred method of payment, then it is cheaper to make one large payment than make multiple smallet payments. As was mentioned above, the more payment transactions that you make per month, the more the associated charges.
  3. An Online payment using Debit Card, Credit Card or SID Instant EFT is more expensive that an EFT. The fees for an EFT are a fixed amount per payment, whereas the Online payment option is a percentage of the value of the payment. Let's compare the fees of a R1000 EFT to a R1000 online payment. The fees for the R1000 EFT are 9c. The fees for the R1000 Online payment are 2.27% of R1000 = R27. EFT is cheaper.
As you can see from the above, the most economical option is a direct EFT to one of our bank accounts.

What reference must I use for my payment?

The correct reference to use for every payment made is your Unimet Wallet Reference.
This is visible to you on the Dashboard as you login into the Smartzone.
Please note that is not case sensitive BUT each character must be entered exactly as you see it on the Smartzone so that our computers can automatically recognise your payment and allocate it to your wallet. 
If any spaces are entered or any mistakes are made, please contact our Support Desk for assistance. Our agents will require to do a verification process in order to allocate your funds.



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