If you’re a Luno customer in South Africa, depositing money from a supported bank using Instant EFT with PayU ensures that funds reflect almost instantly in your ZAR wallet. All you need is your existing online banking details.

Here's how

  1. Sign in to the Luno app and go to Wallets
  2. Choose your ZAR wallet and select Deposit
  3. Select Instant EFT with PayU
  4. Enter the amount you wish to deposit, and select Next
  5. Confirm the amount and deposit fee
  6. If you’re happy, select Continue to PayU and then select Ozow
  7. Choose your bank (if you can’t find your bank, it means it’s not supported)
  8. Enter your online banking details (username and password/PIN)
  9. Follow the instructions specific to your bank to approve the action
    • You might have to approve the creation of a beneficiary on your online banking
    • You’ll have to approve the transaction into a Standard Bank account ***4219
    • Only approve transactions within the Ozow flow


      NEVER make direct deposits using standard EFT as this will cause an unnecessary delay and you’ll have to provide proof of payment - so we can find the deposit.

  10. Once the transaction is successful, continue to Luno

Mission success! You’ve made an instant deposit using PayU.

Frequently asked questions

Which banks are supported?

  • ABSA

  • Nedbank

  • Standard Bank

  • Capitec

  • Investec

  • TymeBank

  • African Bank


Unfortunately, FNB is not supported for instant EFT at this point in time.

Will I be charged a deposit fee?

Yes, there is a 1.4% fee (uncapped) per deposit. For larger (standard EFT) deposits you might want to make use of a normal bank transfer to deposit money into your Luno wallet (this is the Bank transfer option when making a deposit from your Luno account).

What is Ozow?

Ozow is an instant electronic funds transfer (EFT) payment service that allows you to pay directly using your existing online banking details - securely and instantly.

Are there any deposit limits?

Yes, there is a daily deposit limit of R15,000. Further limits may also apply depend on transactional limits set by your bank.

How long before my money is in my Luno wallet?

Once you get the success message from Luno, your funds will show up instantly in your ZAR wallet. If the deposit isn’t showing in your Luno wallet within a few minutes and you’ve been debited, please contact us with a valid proof of payment.


Do NOT make a manual EFT to the beneficiary created while following the Instant EFT process within Ozow.

Will PayU store my online banking credentials?

No. Your details will not be saved anywhere in the process, by either PayU, Ozow or us at Luno. This means you will have to enter your online banking credentials for each deposit, adding more security to your transaction.

What could disrupt the deposit?

Your deposit could fail for these reasons:

  • Insufficient funds

  • Closing the deposit window too quickly before finalising the deposit flow

What do I do if I’m asked to enter a Token Password?

If you’re asked to enter a "Token Password", follow the steps to activate remote or online banking. You’ll have to contact your bank if you encounter this issue, as it’s outside of our control.