Quick answer
RTGS — real-time gross settlement — moves each payment individually, in seconds, with finality. EFT — electronic funds transfer in the South African sense — bundles payments into batches that clear through BankservAfrica and settle in SAMOS at scheduled windows. RTGS is fast and expensive; EFT is cheap and slower.
What RTGS actually means
Real-time gross settlement is a settlement method, not a separate platform. In South Africa, RTGS happens inside SAMOS: a bank sends an individual settlement instruction, SAMOS validates it, debits the sender's account, credits the receiver's, and confirms — all in seconds, with the credit final on landing.
What EFT means in South Africa
In South African usage, EFT typically refers to the credit and debit-order rails cleared by BankservAfrica's EFT PCHs. These are batched: a bank submits its outgoing instructions for clearing; BankservAfrica matches and nets; the net positions settle in SAMOS at the daily window. The customer-facing experience can be next-day or same-day depending on cut-offs and scheme.
Side-by-side
| Attribute | RTGS | EFT |
|---|---|---|
| Speed | Seconds | Same-day or next-day |
| Settlement type | Gross, individual | Net, batched |
| Typical use | High-value, urgent | Salaries, bills, recurring |
| Cost to customer | Higher | Lower |
| Reversibility | Final, irrevocable | Recall windows exist |
Which one to use when
- Use RTGS for high-value, time-critical payments where settlement risk is unacceptable.
- Use EFT credit for bulk recurring payments where cost matters more than speed.
- Use PayShap for low-value instant payments.
TL;DR
- RTGS = real-time, gross, irrevocable, expensive.
- EFT = batched, netted, cheap, slower.
- Both ultimately settle in SAMOS — just on different schedules.
- Choose based on urgency, value, and cost tolerance.
Frequently asked questions
Is RTGS the same as SAMOS?
Not exactly — RTGS is a settlement method that SAMOS implements. SAMOS also supports batch settlement.
How long does an EFT take in South Africa?
Same-day or next-day in most cases, depending on cut-off and scheme rules.
Is RTGS more secure than EFT?
Both are secure. RTGS reduces settlement risk by going gross and individual; EFT is fine for non-urgent retail flows.
Why is EFT cheaper?
Batching and netting concentrate cost across many transactions and reduce per-message processing.
See also from our Ecosystem silo: STRATE Settlement: Securities Settlement in SAMOS and Sponsored vs Direct Settlement Participants. For the foundations, return to the SAMOS homepage or browse the full Knowledge Hub.
