South Africa: Net1 Wins Case to Allow Debit Deductions On Social Grant Accounts - News Summed Up

South Africa: Net1 Wins Case to Allow Debit Deductions On Social Grant Accounts


It is SASSA and the department's interpretation that all electronic debits, stop orders and electronic fund transfers be prohibited from the Grindrod accounts. Net1 and its subsidiary companies contested this, arguing that the Grindrod bank accounts should be unrestricted. "The grant recipients hold their accounts subject to the terms and conditions of the respective bank accounts. "It is clear that once the grant is transferred ... it operates as any bank account at any Commercial Banking Institution. After the ruling on Tuesday morning, the Black Sash, which has been monitoring the case, says the ruling has dealt another blow in their battle to have all deductions stopped on SASSA bank accounts.


Source: The North Africa Journal May 09, 2017 12:11 UTC



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