What is an Immediate Interbank Payment (IIP)?

Normal beneficiary payments to other banks take 24 to 48 hours to go through. An IIP is a payment to a beneficiary that goes through immediately.

Please note:

  • An IIP costs more than a normal payment (see ‘Charges’ for IIP costs).
  • The exact time that an IIP arrives in your beneficiary's bank account will depend on their bank, not on Absa.
  • IIPs to new beneficiaries or for once-off payments are always delayed by 1 hour.
  • Not all banks accept IIPs.

See also:

I can’t make an Immediate Interbank Payment (IIP). Why?