Thousands of South Africans may not be aware that they are paying significantly more for immediate online payments.

Online shopping has become increasingly popular since the Covid-19 pandemic hit South Africa over a year ago.

And there is quite a difference in fees for this service between the different banks.

Andrew Thompson dissected the real-time clearing fees between SA’s largest banks in BusinessInsider.

What is the difference between an EFT an a RTC or Immediate Transfer.

How much does an Immediate transfer cost?

Thompson gave Radio Islam listeners the answers to these questions which are so commonly asked.