Concern over frequent bank account changes for grant beneficiaries

Sassa warns beneficiaries that frequent changes to banking details could place grant payments at risk

1 hour ago

Gugu Myeni 1 minute read

Social grant beneficiaries queue at Sassa branch PHOTO: Sassa/FB

Social grant beneficiaries are urged to avoid making frequent changes to their payment methods.

The South African Social Security Agency (Sassa) made the plea on Wednesday, warning that frequent changes to banking details could place grant payments at risk or cause unnecessary payment delays.

“Beneficiaries who change their bank accounts close to Sassa’s payment processing dates may miss the cut-off for the next payment cycle, resulting in their grant being paid later than expected.

“In addition, any errors in the banking information provided, or new accounts that have not been fully activated and verified by the bank, can result in payments being rejected and returned, leaving beneficiaries without access to their grant until the matter has been resolved,” the agency stated.

Sassa noted circumstances in which beneficiaries may change bank accounts because of existing financial obligations, including loans or other debit arrangements.

However, it urged beneficiaries to exercise caution when making financial decisions and to understand their contractual obligations with financial institutions.

“Changing a bank account does not remove a beneficiary’s contractual obligations to a lender or other creditor.

“Beneficiaries are therefore encouraged to seek appropriate financial advice and engage directly with their financial institution when experiencing difficulties with loan repayments or other financial commitments.”

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