Postbank has assured all social grant beneficiaries that their payments will continue without any disruption, despite recent media reports suggesting the expiry of its Master Services Agreement (MSA) with the South African Social Security Agency (SASSA).

According to the bank, millions of South Africans who rely on social grants through Postbank’s Black Cards and SASSA Gold Cards will continue to receive their payments as usual.

“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 in a statement.

IOL previously reported that Sassa confirmed it will not renew its Master Services Agreement with Postbank, which is set to expire on 30 September 2025.

The move has raised concerns about the future of grant payments for more than 2 million beneficiaries who currently use Postbank accounts.

Social Development Minister Nokuzola Tolashe, in response to a parliamentary question, stated that SASSA had “decided to exercise the exit clause of the Master Service Agreement (MSA) with Postbank due to operational reasons and changes within the payment environment.”

She cited the termination of cash pay points and SAPO over-the-counter services as reasons the agreement “no longer has any significant relevance.”

However, Postbank has rubbished these claims, calling them “unfortunate and not necessarily valid,” and has urged beneficiaries to disregard them.

“Postbank is in discussions with SASSA regarding the MSA, which, although it has no end date, requires periodic reviews, similar to any other contract,” it explained.

The bank emphasised that the status of the MSA has no bearing on the disbursement of social grants. “It is important to emphasise to grant recipients and the public that the presence or absence of the MSA does not affect social grant payments for any beneficiary.”

Postbank also reassured beneficiaries that they do not need to open new bank accounts or change their payment methods.

“There is also absolutely no need for beneficiaries using Postbank’s Black Cards and SASSA Gold Cards to change their payment methods or open new bank accounts, despite any external calls to do so.

”They will always receive their payments securely and timeously through their existing cards,” the bank said.

On the issue of security, the bank maintained that beneficiaries’ accounts remain protected.

“Postbank’s beneficiaries have not experienced unauthorized deductions on their accounts. We robustly monitor and protect the accounts and personal information of each beneficiary that is paid their grant with any of our cards.”

The bank also reminded beneficiaries that if their card is lost or stolen, they can replace it at no cost at major retail partners, including Pick n Pay, Boxer, Spar, and Shoprite by presenting a valid ID.

Postbank called on all stakeholders to act responsibly.

“Postbank calls upon all stakeholders to engage responsibly and prioritise the interests of social grant beneficiaries and their peace of mind above all else.”

The bank reaffirmed its commitment to delivering social grants efficiently. “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.”

hope.ntanzi@iol.co.za

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