Cosatu has urged the South African Social Security Agency to reconsider its decision to phase out Postbank as a social grant service provider.
According to Cosatu’s spokesperson, Matthew Parks, the federation is extremely disappointed by SASSA’s announcement that it intends to phase out Postbank’s participation in processing social grant payments to millions of recipients in favour of private banks.
“After Postbank reported that such fees would not be deducted, social grant recipients will be charged R10 per R1000 withdrawal. Social grant recipients receive so little, and the cost of living is constantly rising, that they should be exempt from fee deductions to fund private bank profit margins. SASSA needed to negotiate with all bank providers to waive these fees for social grant recipients,” stated Parks.
VOC News
Photo: Supplied
