Why is their withdraw delay on funds in my PayFast account?
Posted by zz Jessica R on 18 Sep 2015 09:53

The idea behind PayFast is to speed up e-Commerce fulfilment through positive acknowledgement of funds received. There is also a reduction in admin overhead for the seller in terms of not requiring proof of payment, not doing manual reconciliation etc.

The intention too is that PayFast collects multiple payments on behalf of a receiver and then pays the receiver in bulk at the receiver's request.

Funds received are accumulated to your PayFast account from where you request a Payout on a regular basis (eg. weekly) to have the funds transferred to your bank account.

For fraud prevention and security purposes, each payment is subject to a withdraw delay (shown on your account) so your received payment will only be available after the indicated duration has passed.

You can continue with the fulfilment of the order safe in the knowledge that the funds have been received and credited to your PayFast account and will shortly be available to be transferred to your bank account.

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