How and when a loan is paid out
A registered South African credit provider pays into your bank account. That is not a limitation — it is a protection, creating a traceable record of exactly what was advanced and when, which is the evidence you would need in any dispute.
What you need to know
The account must be in your own name and is usually the same one the lender assessed and will collect from. A request to pay into a third party’s account is a fraud pattern and a legitimate lender will refuse it.
If a payout has not arrived, check in this order: whether you approved the DebiCheck mandate, whether the lender used an immediate payment or a standard EFT, and whether the application completed after the banking cut-off or over a weekend.
If none of those explain it, contact the lender in writing and ask for the payment reference and the date and time of the instruction. That reference is what your bank needs to trace it.
A fee before a payout is always a scam
No registered credit provider charges you before it advances money. Release fees, clearance fees, insurance deposits and courier charges demanded before payout are advance-fee fraud, without exception. The initiation fee is deducted from or added to your loan — never paid up front by you.
Related
Sources and last checked
- National Credit Act 34 of 2005 and its regulations — Government, as at 10 August 2026.
- National Credit Regulator — register of credit providers — Regulator, as at 10 August 2026.
Page last checked 10 August 2026. Statutory caps and lender terms change — confirm anything you intend to rely on with the provider or the National Credit Regulator. Found something wrong? Tell us and we will correct it.