Reserve Bank halts Sassa card switch, sparking concern among grant recipients

The South African Reserve Bank’s (Sarb) decision to halt the transition from Sassa’s gold cards to Postbank’s black cards has created uncertainty for social grant beneficiaries.

Source: SANews.gov.za

The Sarb cited concerns over Postbank’s security system compliance, limited banking infrastructure, and inadequate communication as reasons for the temporary suspension of the process.

Sassa maintains that the old cards will continue to function until the Reserve Bank announces an updated deadline.

The agency’s Northern Cape spokesperson Lungelo Mkamba says, “Although the issuance of the Postbank black cards has been temporarily halted on instruction of the South African Reserve Bank, all Sassa gold cards remain functional until a new deadline for the termination of the Sassa gold card is issued by the SARB soon.

"Beneficiaries can, therefore, continue using their gold cards as usual, and there is no need for immediate panic.”

Postbank's chief executive officer, Nikki Mbengashe said the Sassa gold card can be used for another two months.

"Gold card beneficiaries who have not yet switched to black cards can still use their gold cards until the end of May 2025. They will have uninterrupted access to social-grant payments and be able to use their gold cards to make purchases and cash-withdrawals at approved retailers.

She said people who had lost their cards could still receive over-the-counter cash payouts at the post office.