Reports about the expiry of the Sassa contract were described as “unfortunate and not necessarily valid”
Postbank has moved to calm fears among social grant beneficiaries, assuring them that grant payments will continue despite reports about the expiry of its contract with the South African Social Security Agency (Sassa).
Payments guaranteed
The bank confirmed on Thursday that millions of beneficiaries using Postbank’s Black Cards and Sassa Gold Cards will continue to receive their money securely and on time.
“Postbank wishes to assure all Sassa beneficiaries receiving grants through Postbank’s Black Cards and Sassa Gold Cards that their grant payments will continue without any interruption,” the bank said.
Contract expiry reports dismissed
It described media reports about the expiry of its master services agreement (MSA) with Sassa as “unfortunate and not necessarily valid”.
Postbank clarified that while the agreement requires periodic reviews, “it has no end date” and its presence or absence does not affect social grant payments.
“We urge beneficiaries to disregard the reports and remain unconcerned,” the statement said.
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No need to change accounts
The bank emphasised that beneficiaries should not be pressured into opening new bank accounts or changing payment methods.
“There is absolutely no need for beneficiaries using Postbank’s Black Cards and Sassa Gold Cards to change their payment methods or open new bank accounts. They will always receive their payments securely and timeously through their existing cards,” it said.
Postbank also assured recipients that no unauthorised deductions had been recorded on its systems. “We robustly monitor and protect the accounts and personal information of each beneficiary.”
Card replacements available
Beneficiaries who lose their cards can replace them at no cost at participating retailers. This includes Pick n Pay, Boxer, Spar, and Shoprite, provided they bring a valid ID.
“Postbank remains fully dedicated to its grant payments mandate and is committed to working
with all stakeholders through appropriate channels to continue providing these critical
services to our communities,” it said
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