How to Change Banking Details?
If your previous bank account is closed or you need to change your banking details for SRD grant then you don’t need to go anywhere. This is a complete and straightforward guide that will educate you on how and where to add banking details for the SASSA grant.
Before you read the guide, you should monitor your SASSA status check procedure and confirm if your grant payment is approved or not.
When to Change SASSA Banking Details?
You may have to change your banking information for the SASSA grant for several reasons. Paying attention to the details of your payment method is crucial if you want to be sure you receive the grant you applied for promptly and with no disruptions.
Here are some very common reasons why you might have to update your banking details with SASSA:
- Bank Account Not in Existence: If your bank account does not currently exist, it stands to reason that your grant payment will not be processed. No active banking details result in no payment processing. Your existence in the banking system must be established before any payments are made.
- Wrong Bank Data: If your bank details are wrong, your money won’t reach you. This means that if SASSA attempted to send you funds but couldn’t because you gave them the wrong account number, for example, they would then have to send those funds again once you provided the correct information. This means also that the funds they sent before never left our bank.
- Bank Account Changes: Beneficiaries may change banks to obtain cheaper fees, better customer service, or more convenient access to their money. They may also change account types to suit their new circumstances better and still need to inform SASSA of the account to ensure uninterrupted payments.
- Fraud or Security Problems: If you think there may be fraud going on with your current bank account, switching to another bank can do a lot to help keep your money safe. If you have any security fears at all, such as real worries about unauthorized transactions, then you should update these details ASAP.
- Payments that are late or that do not go through: If your payments for grants are coming through later than expected or not coming through at all, this may be a result of an issue with the details you’ve provided about your bank. Ensuring that the account you list is one with a reliable record of not having problems of this kind can go a long way toward preventing further problems.
- Transitioning to Mobile Banking Services: Numerous beneficiaries select mobile banking platforms such as eWallets or digital bank accounts for their banking needs. If you are one of the users who have preferred this service, you must ensure that SASSA has the correct banking details for your chosen platform so that SASSA can pay you.
Change Banking Details for the SASSA SRD Grant
Changing your banking details for the SASSA SRD grant is a simple process that ensures you receive your payments in the correct account. The South African Social Security Agency (SASSA) allows beneficiaries to update their banking details through the official SRD portal.
Follow this step-by-step guide to successfully update your grant payment information.
Open the Website Srd.sassa.gov.za
- Visit srd.sassa.gov.za using a computer or mobile device.
Select the Correct Applicant Category
You will see two options:
- South African ID Holder
- Asylum Seeker or Special Permit Holder
Choose the category that applies to you.
Find the Banking Details Update Option
Scroll down and look for the section titled “How Do I Change My Banking Details?”
Enter Your South African ID Number
Provide your valid South African ID number to proceed.
Receive a Secure Link via SMS
SASSA will send a secure link to the mobile number registered with your application.
Enter Your New Banking Details
Click the secure link and enter your updated banking details, including:
- Bank Name (e.g., Capitec Bank, TymeBank, ABSA Bank, FNB, or Standard Bank)
- Bank Account Title
- Bank Account Number
- IBAN Number
- Swift Code (if applicable)
- Your Full Name
Verify and Finalize with OTP
- SASSA will send a One-Time Password (OTP) to confirm your changes.
- Enter the OTP to complete the update.
Once submitted, your new banking details will be updated in SASSA’s system. Always ensure that your bank account is active and in your name to avoid payment delays.
How to Choose Retail Store As Payment Method for SRD Grant?
If you prefer to receive your SASSA SRD grant through a retail store instead of a bank account, you can easily update your payment method online. SASSA allows grant beneficiaries to collect payments from selected retail stores such as Shoprite, Checkers, Pick n Pay, and Boxer.
Here’s a step-by-step guide on how to choose a retail store as your payment method.
Visit the Official SASSA SRD Website
- Open your web browser and go to srd.sassa.gov.za.
Choose the “SASSA Change Banking Details” Option
- Scroll down and locate the option to update your banking or payment method.
- Click on “SASSA Change Banking Details.”
Select the Payment Option “Retailer Store”
- Instead of entering bank account details, choose the “Retailer Store” option as your preferred payment method.
- This allows you to collect your grant from approved retailers.
Enter Your Mobile Phone Number for Verification
- Provide the mobile number linked to your SASSA grant application.
- Ensure that your phone number is active, as you will receive an OTP (One-Time Password).
Verify Your Identity Using OTP
- SASSA will send an OTP to your registered phone number.
- Enter the OTP to confirm your payment method change.
F.A.Q
Can I change my banking details for the SRD grant?
Yes, you can change your banking details for the SRD grant on the official SASSA website.
What banks are allowed for SRD grant payment?
These are the banks that you can use for SRD grant payments:
- Capitec Bank
- TymeBank
- ABSA Bank
- FNB
- Standard Bank
How long do the banking details take to update?
The banking details can take up to 30 days to update. However, you will start receiving the payment in the upcoming months once your bank details are updated.