We’re delighted to offer an express withdrawal option for our customers in South Africa. Depending on who you bank with, normal withdrawals can take up to 2 business days to reflect in your bank account.
With an express withdrawal, you can speed up the process, allowing your funds to reflect much more quickly in your bank account (as long as you withdraw during Luno’s withdrawal processing hours).
Here’s how
From the Wallets screen, select your local currency wallet
Select WITHDRAW
Enter the amount you’d like to withdraw
Select the fee check box, and then NEXT
Add an optional reference note if you want to and select NEXT
On the confirmation screen, select CONFIRM
And lastly, enter your Luno PIN to finalise your express withdrawal
Tip
You’ll need to have your bank account linked in order to request a withdrawal. Not sure how to do that? Find out how to here.
Note
If you withdraw funds to a Standard Bank account, it will always reflect in about 15 minutes from 8:00 to 17:45, Mondays to Saturdays - so there’s no need to request an express withdrawal. In fact, the option won’t be available to you. The reason for this is that Luno also banks with Standard Bank, which means that when you request a withdrawal, there’s no inter-bank processing needed.
Frequently asked questions
All South African banks, except for TymeBank and Postbank, are supported with express withdrawals.
Yes. The fee you’ll pay depends on whether your bank is an RTC (real-time clearing) participant.
The following banks are currently RTC participants:
ABSA, African Bank, AlBaraka Bank, Bidvest Bank, Capitec Bank, Discovery Bank, Finbond, First National Bank, Investec Bank, Nedbank, SASFIN and Standard Chartered.
Note
All South African supported banks not listed above are not RTC participants.
The express withdrawal fee to RTC participant banks is R20.00 and the fee for all other supported banks is R80.00.
From Mondays to Fridays (except on public holidays), if you request an express withdrawal during Luno’s withdrawal processing times, your withdrawal will reach your bank account on the same day. Those processing times are:
| Withdrawal processing times | Withdrawal processing days |
| 08:00 to 15:45 | Mondays to Fridays (except on public holidays) |
If you request an express withdrawal outside of Luno’s withdrawal processing times, your withdrawal request will be processed as soon as processing times open again.
Let’s use an example: You request an express withdrawal at 11:15 on a Saturday. It’s outside of Luno’s withdrawal processing times, so it will only be processed at 08:00 the following Monday. It will then reflect in your bank account on Monday morning.
There is, yes. The maximum amount you can withdraw is R5 million per withdrawal.