Postbank and the South African Social Security Agency (SASSA) has announced that it will phase out physical cash payment points (CPPs) as well as cash withdraws of social grants inside Post Offices.
PHOTO: SASSAIn a joint statement, the two entities said the phasing out
process will be implemented from January 2024. It hopes that by 31 March 2024,
all CPPs and Post Office branch grants payments would have stopped.
‘’SASSA Gold Card social grant recipients using CPPs and
Post Office branches must now use those cards at any place that accepts a bank
card. This includes making purchases in any retailer that provides a cash back
functionality, counting using the existing Postbank cash withdrawals channel in
the form of any bank ATM, or any of the five partner retailers that include
Boxer, Pick ‘n pay, Spar, Shoprite, Usave and Checkers,’’ read the statement.
Postbank says the decision to phase out cash withdrawals
was initially announced in 2018, to improve customer experience.
‘’Factors such as escalating cash-in-transit heists, unfavourable
conditions at some of the CPP sites, and the closure and capacity challenges at
many Post Offices drove this strategic move. Buy mitigating beneficiaries to
the other National Payment System (NPS) access channels, we are solving for
these challenges proactively.’’
SASSA said as of December 2023, approximately 98% of SASSA beneficiaries
already make use of various NPS channels to withdraw their grants, adding that
most SASSA beneficiaries will not be affected by the change.
It also reminded social grant beneficiaries that their
SASSA Gold Cards will not expire in December 2023, despite rumors.
‘’Guaranteeing that SASSA Gold Cards work beyond December,
and into 2024 until further notice, highlights SASSA and Postbank’s commitment
to ensuring uninterrupted and improved access to services,’’ concluded the
joint statement.
Done By: Mitchum George
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