IN CONVERSATION WITH : Andile Tshona (Senior Manager: Media Relations at SASSA)
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The deadline for social grant beneficiaries to replace their SASSA gold cards has been extended to 30 April, giving recipients additional time to transition to the new black Postbank cards.
This extension follows a variation notice issued by the South African Reserve Bank (SARB) to Postbank, requiring the state-owned bank to upgrade its security systems or risk removal from the National Payment System.
Addressing the National Council of Provinces, Minister Tolashe stated:
“If Postbank fails to meet the South African Reserve Bank's requirements to replace all gold cards within the set timeframe, its clients will be migrated to another bank or banks, as stipulated in SARB’s original condition when the initial variation notice was issued.”
To date, Postbank has issued over one million black cards—covering approximately 46% of all beneficiaries. However, around 1.5 million beneficiaries still need to complete the migration to the new cards.
This extension follows a variation notice issued by the South African Reserve Bank (SARB) to Postbank, requiring the state-owned bank to upgrade its security systems or risk removal from the National Payment System.
Addressing the National Council of Provinces, Minister Tolashe stated:
“If Postbank fails to meet the South African Reserve Bank's requirements to replace all gold cards within the set timeframe, its clients will be migrated to another bank or banks, as stipulated in SARB’s original condition when the initial variation notice was issued.”
To date, Postbank has issued over one million black cards—covering approximately 46% of all beneficiaries. However, around 1.5 million beneficiaries still need to complete the migration to the new cards.
