Standard Bank Eswatini is reintroducing its Instant Money service, four years after replacing it with Unayo. Customers are being notified of the development through SMS messages. The return of Instant Money comes as the bank prepares to discontinue Unayo, signalling a return to the money-transfer service that customers used before the introduction of the digital platform.
The Instant Money service allows customers to send money to recipients using their mobile phones, with recipients able to access the funds without necessarily having a bank account. This service was previously used by Standard Bank customers before being replaced by Unayo as part of the bank's efforts to broaden its digital financial-services offering.
According to Standard Bank, Unayo voucher will be discontinued from November 3, 2026. The bank has previously indicated that it would support customers during the transition and provide alternative channels through which they could continue accessing financial services. The decision to discontinue Unayo and bring back Instant Money is part of the bank's strategy to adapt to changing customer needs.
The reintroduction of Instant Money is expected to benefit customers who require a simple and convenient way to transfer money. The service will likely be particularly useful for those in rural areas or those without access to traditional banking services. Standard Bank has yet to publicly provide full details on the launch date and the operating model of the revived service.
The move by Standard Bank Eswatini is part of a broader trend of financial institutions adapting to changing customer needs and advances in technology. The bank's decision to bring back Instant Money and discontinue Unayo reflects its efforts to provide customers with a range of convenient and accessible financial services.
The Times of Eswatini reported that Standard Bank recently informed customers that Unayo would be discontinued, with the process expected to be completed by December 31, 2026. The bank's customers have started receiving SMS notifications informing them of the return of Instant Money.
The reintroduction of Instant Money by Standard Bank Eswatini is expected to have a positive impact on the country's financial sector. The service will provide customers with an additional convenient and accessible way to transfer money, and will likely be particularly beneficial for those in rural areas or those without access to traditional banking services.
Key points
- Standard Bank Eswatini is bringing back its Instant Money service, four years after replacing it with Unayo.
- The return of Instant Money comes as the bank prepares to discontinue Unayo, signalling a return to the money-transfer service that customers used before the introduction of the digital platform.
- The reintroduction of Instant Money is expected to benefit customers who require a simple and convenient way to transfer money.
