Electronic Funds Transfer (EFT) is the standard payment method for private car sales in South Africa. Cash is sometimes used for lower-value transactions but carries risk. Here's how to receive payment safely.
EFT (Electronic Funds Transfer)
Wait for the EFT to reflect as cleared in your account before handing over the vehicle, title deed, or roadworthy certificate. Interbank EFTs in South Africa typically clear same-day or next business day. Do not rely on the buyer's internet banking confirmation screenshot — check your own account.
Bank-Confirmed Payment
For high-value transactions, ask the buyer to make a bank-confirmed payment — some South African banks offer this service where funds are guaranteed once sent. This eliminates the risk of reversed transfers.
Cash
Cash is acceptable in South Africa, but for vehicles over R100,000 bank transfer is safer. If accepting cash, count it in a well-lit location. Be aware that large cash transactions may attract attention under FICA regulations.
Deposit
A deposit (typically R1,000–5,000) once a price is agreed is common practice. It commits the buyer while they arrange the full amount. Make clear whether it is refundable if the buyer withdraws.
Scams to Avoid
- Fake EFT confirmation emails: Scammers send official-looking bank emails — always verify in your own banking portal, not on documents the buyer shows you.
- Overpayment scam: Buyer sends more than agreed and asks for a refund. The original payment is fraudulent.
- Cheque: Never accept a cheque for a private car sale in South Africa — cleared-cheque fraud is common. EFT only.
