Question

Can I transfer money from my SASSA account into a Nedbank account

Answer 1

Hey Sylvester. Unlike other traditional bank accounts, a SASSA account will only allow the following.

1. After the funds have been deposited on the 1st of the month, you are to contact CPS/Net1 (a division of the Grindrod Bank that handles the SASSA accounts), and request a funds transfer
2. Make sure you make no withdrawals of any parts of the deposited balance in the SASSA account - otherwise, the transfer will not be possible (strange but true).
3. Ensure that the destination or receiving account is under the same names as the SASSA account. Funds cannot be transferred to a bank account under a different name.