• Shoppers can now send money from any Mr Price or Sheet Street store.
• Transfers cost R8.50 per transaction and a maximum of R3 000 can be sent per day.
• Money can be collected at Mr Price and Sheet Street stores or any Absa ATM.

South Africans shopping at Mr Price and Sheet Street can now send money to anybody regardless of whether they have a bank account or not.

This is thanks to a new product being rolled out by Mr Price Money in collaboration with Absa called Money Transfer.

The product does what it says on the tin and allows the transfer of money from one person to another. The money can then be collected at one of Mr Price and Sheet Streets 700 stores or an Absa ATM.

Those sending money will need to pay a fee of R8.50 per transaction so be sure to factor that into the money you intend to send. The receiver does not pay a fee to collect the money.

“The value-based differentiation, so fundamentally associated with the Mr Price brand, is twofold when it comes to our money transfer service. Firstly, it’s in the price – at only R8.50 per transfer. And secondly, it meets a very real and practical need within the market. Simply put, it’s about bringing customers what they need at the very best price,” managing director for Mr Price Money, Praneel Nundkumar said in a statement.

In order to send money simply head to a Mr Price or Sheet Street store, and take along your ID.

During the process, you will need to create a four-digit PIN and upon completion, you will receive a transfer number printed on your till slip. This transfer number and the PIN need to be sent to the person who is receiving the transfer.

Mr Price Money says that the maximum transfer amount per day is R3 000.

This is an interesting product from Mr Price Money but we have to wonder how it will stand up against well-established products already in the market. With that having been said, we don’t see how more solutions are a bad thing either.

For more information about Money Transfer from Mr Price Money, head to your nearest Mr Price or Sheet Street store and ask an employee.