How to Change Banking Details for the SRD Grant?
I want to share my personal experience about changing my SASSA banking details for the SRD grant. This happened last January when I was planning for the new year.
One of my cousins came to visit me. He told me to try TymeBank for my SRD grant. He said it has many benefits for SASSA grant beneficiaries.
So, I opened a TymeBank account. After that, I wanted to update my bank details on the SASSA SRD portal. I was not sure how to do it, so I went to the nearest SASSA office. I asked an officer there to help me change my banking details.
Now, I want to share the method I used. It is simple and has been tested by me.
Why Choose TymeBank for SRD Grant Payments?
Many SASSA beneficiaries are now using TymeBank. Here’s why:
1. GrantAdvance Service
TymeBank offers a service called GrantAdvance. If you qualify, you can get up to R1000 in advance. This is a small loan, and you can repay it when your next SRD payment arrives.
2. Zero Monthly Fees
TymeBank does not charge monthly account fees. This helps you save more from your SRD payment.
3. Easy Access with Pick n Pay and Boxer
You can withdraw your SRD grant from any Pick n Pay or Boxer store across South Africa. No need to stand in long lines.
How to Change Banking Details for the SRD Grant?
Here are the steps that I have taken to change my banking details to TymeBank. Also, you can use the same method to change banking details to Capitec bank.
1) Visit the SRD Portal (srd.sassa.gov.za banking details)
Open the SASSA SRD official portal, where you can start the process to update your bank account. The official website address is srd.sassa.gov.za. You need to visit this website from an internet-operated device. It is an online portal where you can not only change the banking details but also check your SASSA status, apply for SRD grant, and get your SASSA payment dates as well.
2) Choose Your Citizenship Type
On the homepage of the SRD portal, you will be asked to choose between:
- South African ID Holder
- Asylum Seeker or Special Permit Holder
This is very necessary as SASSA wants to redirect you to the requested page according to your citizenship type.
3) Find the “How Do I Change My Banking Details” Option
On the next page, you will see the option “How Do I Change My Banking Details,” and below this option, you will see a space where you need to enter your South African ID number.
Once you enter your ID number, you will receive an SMS on your phone number that you have used for the SRD grant application. Open that SMS and there will be a URL to follow.
4) Fill Out the Change Banking Details Form Online
Once you follow the URL, it will open in your web browser, like Chrome or Firefox. This is your application form to change your bank account information. You need to fill out the form like that following steps:
- Choose the name of your bank. In my case, it was TymeBank, but you can choose yours, like Capitec Bank, Standard Bank, ABSA Bank or FNB.
- Now you need to enter your complete bank account number.
- IBAN as well.
- Type your Swift code.
- Enter your full legal name.
- Now read all the details carefully and submit the form.
Now, SASSA will send an OTP to your SRD-linked phone number to confirm your changes. You need to provide the OTP and verify your details.
Why Choose a Bank for SRD Payments?
Getting your SRD grant through a bank account is a smart choice. Here’s why:
Faster Payments
Money comes directly into your bank account. You don’t have to wait for SMS or vouchers.
Safe and Secure
You don’t carry cash. Your money stays safe in the bank.
Easy Withdrawals
You can withdraw money from ATMs, retail stores, or use banking apps.
Track Your Money
You get SMS alerts for every transaction. You can check your balance anytime.
No Long Queues
No need to stand in lines at pay points or post offices.
Open 24/7 Access
You can use your card or app to pay bills or buy airtime anytime.
Better Control
Banks offer tools like savings pockets or spending insights to manage money.
Extra Services
Some banks, like TymeBank, give you small loan options or cashback offers.
Build Credit Record
Using a bank account helps you start building a financial history.
Why are My Banking Details Pending and Not Approving?
Sometimes, after you change your banking details on the SRD portal, the status shows “Pending” for many days. This is normal for up to 30 days. But if your banking details are pending for more than 30 days, it means something is wrong.
You should visit your nearest SASSA office and file a complaint. Take your ID and proof of your new bank account with you.
Here are the common reasons why your banking details are not getting approved:
1. Wrong Bank Account Information
If you entered the wrong account number, branch code, or bank name, SASSA will not approve your details.
2. Bank Account is Not in Your Name
SASSA only accepts accounts that are registered under your own ID. If the account belongs to someone else, your details will stay pending.
3. Inactive or Closed Bank Account
If the bank account is not active or has been closed, the system will not process the payment.
4. Delayed Bank Verification
Sometimes, banks take longer to confirm your details with SASSA. This can cause delays.
5. Phone Number Mismatch
If the phone number linked to your SRD application does not match your current number, the OTP might not reach you, and the process will remain incomplete.
Best Banks for SASSA SRD Grant Beneficiaries
If you are receiving the SRD grant, it is important to choose a bank that is safe, easy to use, and low-cost. Here are the best banks for SASSA SRD grant payment receiving in 2025.
1. TymeBank
- No monthly fees: You don’t pay to keep your account active. This helps you save more from your grant.
- GrantAdvance feature: You can get up to R1000 in advance. This is a loan, and you pay it back when your next grant comes in.
- Withdraw at Pick n Pay or Boxer: No need to go to an ATM or bank branch.
2. Capitec Bank
- Easy to open an account: You only need your ID and phone.
- Low fees: Very affordable for people with low incomes.
- Banking app: You can check your balance, send money, and buy airtime anytime.
3. Postbank
- Works well with SASSA: Many people already receive grants through Postbank.
- Cash Send option: You can send money to someone else without a bank card.
- Offices at post offices: Easy to find help or get your money if needed.
