ONLY the Credit Card and SID methods (detailed below) add funds to your account from the SatrixNOW website itself - for which you pay a premium..
The EFT method, in contrast, requires you to leave the SatrixNOW website and use your online banking facility to transfer funds to our SatrixNOW FWT (Pty) Ltd account with that same bank (Ie. you are NOT transferring funds from the deposit page of the SatrixNOW website).
To deposit funds into your SatrixNOW account please follow the steps below:
1. Ensure you are logged into the SatrixNOW website.
2. Choose the SatrixNOW account into which you want to deposit your funds by selecting that account from the Account Ribbon, just below the SatrixNOW logo, as seen in the image below. Remember you have 2 accounts as follows:
- SatrixNOW Investment account - the account selected in dark blue in the image below.
- Tax-free Savings account (TFSA) - the account in white in the image below - please ensure you understand the consequences of making a deposit into the TFSA account before making the deposit - visit this TFSA FAQ article for help on annual and lifetime limit
Please note the account number related to the account you choose, will be displayed just below the ribbon, illustrated by the arrow in the image below.
3. Now select the Deposit option from the small stack menu to the left of the SatrixNOW logo (as in the diagram below). This action will take you to the "deposit funds" page
4. On the "deposit funds" page, you will be presented with the option of depositing your funds in 3 different ways as follows:
EFT (Electronic Funds Transfer) - is the electronic transfer of money from one account to another (in this case your account to ours). It can take place within a single financial institution (eg. ABSA account to ABSA account) or between different institutions (eg. FNB account to ABSA account). See - Funds deposit by EFT
Credit Card Payment - By using a credit card, payments are reflected immediately and there is built-in fraud protection. This is one of the most widely used online payment methods. See - Funds deposit by credit card
SID - SID instant EFT is an online payment option which allows merchants to receive online and mobile payments without a credit card. When someone shops online, SID links them directly to their internet banking. It pre-populates the payment details and directs them right back to the merchant’s website. They receive instant payment confirmation. See - Funds deposit by SID instant EFT