Fearing another SASSA Postbank Gold card debacle, the SA Reserve Bank (SARB) has stepped in. Late last year, the SA Post Office (SAPO) set a totally unreasonable deadline of just three months (31 March 2025) for the phasing out of the SASSA Postbank Gold card.
The deadline was summarily missed, and the debacle caused untold complication for millions of elderly and disabled SASSA Postbank Gold card holders standing in queues. Now, with nearly half a million SASSA Postbank Gold card beneficiaries still to switch, a new and final deadline has been set …
SASSA POSTBANK GOLD CARD SWAP
As such, the SARB decreed in parliament this past week that the South African Social Security Agency and Postbank have 15 months. This allows for a period of time till 31 December 2026 in which to phase out the SASSA Postbank Gold card in favour of the Black alternative.
Moreover, it was the SARB that outlined to Postbank the need to remove the Gold cards and replace them with an improved security key, reports GroundUp. A cryptographic breach back in 2021 meant the security key used to issue Gold Cards was compromised. This likely lead to many instances of SASSA grant fraud. The extended deadline is therefore to avoid disruptions to grant payments and protect the stability of the national payment system, explained the SARB.
IMPROVED SECURITY
As such, SASSA Postbank Black cards will have a new bank identification number, which will tighten auditing and security processes. Parliament also heard of the need for thorough communication campaigns to reach grant beneficiaries. And failure to meet these requirements will see Postbank lose its place in SASSA’s National Payment System (NPS).
At the same time, the SARB insists that SASSA grant recipients are still able to use their existing Gold cards. This is despite the indefinite suspension (until now) of the SASSA Postbank Gold card swap. “Grant recipients will not be adversely affected while we find solutions that are fully compliant,” said the SARB.
CUSTOMERS DIDN’T COME FORWARD
Meanwhile, a Postbank spokesperson says it will be ready to meet this new deadline. However, it says the previous deadline was only missed because: “We waited for the customers to come forward and collect, but they didn’t all come by the deadline. We can clear the remaining half-a-million Gold card holders in two months. But we need to find ways to encourage people to come forward,” the state-run entity said.
ARE YOU ONE OF THE CLIENTS WHO STILL NEEDS TO SWAP YOUR SASSA POSTBANK GOLD CARD?
Let us know by leaving a comment below, or send a WhatsApp to 060 011 021 1.
Subscribe to The South African website’s newsletters and follow us on WhatsApp, Facebook, X and Bluesky for the latest news.
