Note to Capitec customers
You won't be able to make an EFT to Luno from your Capitec account. Please try an alternate method for funding your ZAR wallet.
Once we know a little bit more about you (aka verifying your identity), you can deposit funds to your ZAR wallet via bank transfer (EFT) in a few easy steps.
How to deposit money via bank transfer
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Sign in to the Luno app
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Select Wallets from the menu
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Navigate to your ZAR wallet
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Select DEPOSIT
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Select Bank transfer
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Enter the amount you'd like to deposit and select NEXT
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Before making a deposit, you’ll see a disclaimer. Select I understand and GOT IT after reading it
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Next, you’ll see a deposit reference (starting with BX or LN), as well as Luno’s account details
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Log in to your bank account and make your payment using Luno’s details and your unique reference
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When you’re done, select I'VE MADE THE DEPOSIT on the Luno app
Success! You’ll be ready to buy crypto once your deposit reflects.
Note
Always include your deposit reference in the reference field provided. Here are EFT deposit tips for South Africans.
Tip
Luno banks with Standard Bank, so deposits via bank transfer (EFT) from your Standard Bank account will reach your ZAR wallet near-instantly, and there are no bank fees. If you bank with another bank, and you’d like your deposits to be near-instant, you could always consider opening a Standard Bank account for your Luno deposits.
Keep in mind
When making a deposit, always make sure that:
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You’ve deposited from a local bank account in your own name,
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You made the deposit from your online bank account (we don’t accept cash deposits),
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and that you’ve used your correct deposit reference (starting with BX or LN).
Frequently asked questions
If you bank with Standard Bank, your deposit will reflect near-instantly.
If you bank with another bank, it can take up to two business days to reflect (longer over weekends, public holidays, and when you make a deposit after hours). Once we receive your deposit, we’ll automatically add it to your wallet, and notify you via email.
No. There are no Luno fees applicable when making a bank transfer to your ZAR wallet. Your bank might charge you EFT fees though.
Yes. Depending on the verification level that you’re on, there are certain deposit limits that apply. You can quickly check which verification level you’re on from your settings screen, and which deposit limits apply for you.
Tip
If you upgrade your account to verification level 3, there are no deposit limits when making deposits via bank transfer. Find out what’s needed to upgrade to level 3.
No, international deposits aren't allowed. Deposits should come from a bank account registered in South Africa. International deposits will be reversed back to the depositor, and those reversals may incur a reversal fee. Banks charge these fees due to the fact that they need to do a conversion between the two currencies, which means that it may impact the balance that is returned to the depositor.