Transfer Money from SASSA Card to Capitec Bank

If you receive SASSA grant payments through a SASSA Gold Card and want to transfer the money to your Capitec Bank account, you have several convenient options. Whether you prefer withdrawing cash and depositing it into your Capitec account or using digital banking solutions, the process is simple and accessible.

This guide will walk you through the steps to transfer money from your SASSA card to Capitec Bank, ensuring you can manage your funds efficiently and securely.

Transfer Money from SASSA Card to Capitec Bank

There are two methods to transfer your gold card money to Capitec Bank. You can go with the traditional bank money transfer method or you can change your payment method for the SRD grant to Capitec Bank permanently.

Let’s have a look at both ways.

Method 1: Transfer SASSA Gold Card Money to Capitec Bank

Step 1: Locate a Postbank ATM

To begin the process, find a nearby Postbank ATM or any ATM that supports Postbank card transactions. These ATMs are commonly found in post offices, shopping centers, and public areas across South Africa.

Step 2: Insert Your SASSA Gold Card

Once you are at the ATM, insert your SASSA Gold Card into the card slot. Ensure that the card is properly inserted so that the ATM can read it correctly.

Step 3: Enter Your PIN

After inserting your card, the ATM will prompt you to enter your PIN. Carefully enter your four-digit PIN code associated with your SASSA Gold Card. Be sure to keep your PIN private and avoid sharing it with anyone.

Step 4: Select the Transfer Option

Once you have entered your PIN, the ATM will display multiple options. Look for the “Transfer Funds” or “Bank Transfer” option and select it. This option will allow you to move money from your SASSA card to another bank account.

Step 5: Enter Capitec Bank Details

Now, you will need to provide the bank details for your Capitec account. Carefully enter the following details:

Capitec Bank Account Number: This is the unique account number associated with your Capitec bank account.
IBAN (International Bank Account Number): Some ATMs may ask for an IBAN, but in South Africa, you usually only need the standard bank account number.
Bank Name: Choose “Capitec Bank” from the list of available banks.

Double-check the information to ensure accuracy. Entering incorrect details could result in a failed transfer or the funds being sent to the wrong account.

Step 6: Enter the Amount to Transfer

After entering your Capitec bank details, the ATM will ask you how much money you want to transfer. Enter the amount you wish to send, such as R350. The ATM will display the entered amount for confirmation.

Step 7: Confirm and Complete the Transfer

Once you have reviewed the transaction details, confirm the transfer. The ATM will process your request, and you should receive a confirmation message on the screen.

Step 8: Collect Your Receipt and Card

After the transaction is complete, the ATM will print a receipt showing the details of the transfer. Keep this receipt as proof of payment in case you need to track your transaction. The ATM will also eject your SASSA Gold Card, so be sure to take it before leaving.

Step 9: Wait for Funds to Reflect in Capitec Bank

In most cases, Capitec Bank will receive the transferred funds within a few minutes. However, depending on the ATM and banking system delays, it may take a few hours for the money to appear in your Capitec account. If the funds do not reflect immediately, wait for some time and check your account again.

Method 2: Change Payment Method from Gold Card to Capitec Bank

If you want to receive your SASSA SRD grant payments directly in your Capitec Bank account instead of using the SASSA Gold Card, you can update your banking details online.

This method ensures that all future grant payments are deposited directly into your Capitec account, eliminating the need for manual transfers. Follow the step-by-step guide below to change your payment method.

Step 1: Visit the Official SASSA SRD Website

To begin the process, open your web browser and go to the official SASSA website for SRD grants: https://srd.sassa.gov.za. This is the only official website for updating your SRD grant banking details.

Step 2: Click on “Change Banking Details”

Once you are on the homepage, scroll down until you find the option labeled “Change Banking Details.” Click on this option to proceed with updating your payment method.

Step 3: Enter Your Registered Phone Number

After selecting the banking details option, you will be required to enter the mobile phone number that you used when applying for the SRD grant. Make sure to enter the correct phone number, as SASSA will send a One-Time PIN (OTP) to verify your identity.

Step 4: Verify Your Identity with OTP

Once you have entered your phone number, click the submit button. SASSA will send an OTP via SMS to your registered phone number. Check your messages, retrieve the OTP, and enter it in the required field on the website. This verification step ensures that only the rightful grant recipient can update banking details.

Step 5: Choose Capitec Bank as Your Payment Method

After successful OTP verification, you will be directed to a page where you can update your banking details. Look for the option to select a bank and choose “Capitec Bank” from the list of available banks.

Step 6: Enter Your Capitec Bank Account Details

Now, you will need to enter your Capitec bank account details. Carefully fill in the following information:

Account Holder’s Name: Enter your full legal name as registered with Capitec Bank.
Bank Account Number: Provide your Capitec Bank account number.
Account Type: Select whether it is a savings or current account (most people use a savings account).
Branch Code: The standard Capitec Bank branch code is usually 470010, but it’s best to confirm with your bank.

Ensure that all details are correct before proceeding to the next step.

Step 7: Submit the Form

Once you have entered all the required information, review it carefully to avoid errors. After verifying that everything is correct, click the Submit button to finalize the process.

Step 8: Wait for Confirmation from SASSA

After submitting your new banking details, SASSA will process your request. It may take a few days to update your payment method. You will receive an SMS confirmation once the update is successful. From the next payment cycle, your SASSA SRD grant will be deposited directly into your Capitec Bank account.