- A change close to payment processing dates can mean you miss the cut-off and get your grant later, Sassa says.
- Wrong details or an account the bank has not activated can get a payment rejected and returned until it is fixed.
If you are thinking of moving your grant to a different bank account, read this first.
The South African Social Security Agency (Sassa) says more beneficiaries are changing their payment method and bank details, and some change them often. The agency says you have the right to choose how you are paid. But it warns that frequent changes can put your payment at risk.
Sassa gave two ways it can go wrong. First, if you change your bank account close to its payment processing dates, you may miss the cut-off for the next payment. Your grant is then paid later than expected. Second, if the bank details are wrong, or the new account is not fully activated and verified by the bank, the payment can be rejected and sent back. You will be without your grant until the problem is sorted out.
Sassa also says every bank account change has to be checked, to protect beneficiaries and public money from fraud and identity theft. That takes time and staff, and it adds to queues at service points. It adds that keeping one account helps you build a banking history and makes it easier to get other financial services.
The agency says it knows some people change accounts because of loans or debit orders. It warns that this does not help. Changing your bank account does not cancel what you owe a lender. Sassa urges beneficiaries to get financial advice, and to speak to the lender directly if they are struggling to pay.
Sassa has not said what the cut-off date is.
