Final notice: Deadline to transfer funds from Sasfin - 2 March 2026
Sasfin has exited its banking business. This decision, announced in October 2024, has been followed by several updates regarding the closure process and its impact on account holders.
Following engagements with the Prudential Authority regarding the relinquishment of Sasfin’s banking licence, it has been confirmed that all remaining funds must be transferred no later than 2 March 2026.
If funds have not been moved by this deadline:
- The account balance and all associated documentation will be transferred to a bank nominated by Sasfin, which details will be communicated in due course.
- The nominated bank will then manage all claims and enquiries regarding the transferred funds.
Steps for Transferring Funds
1. Complete the required documentation
- Complete and sign the Third-Party Indemnity Form.
- Attach a bank account confirmation letter for the account into which the funds should be paid.
2. FICA requirements
- If the account is FICA compliant: Submit the completed Third-Party Indemnity Form with proof of the alternative bank account.
- If the account is not FICA compliant: Submit the relevant FICA documentation, the completed Third-Party Indemnity Form, and proof of the alternative bank account before transfer can be processed.
3. Submit documentation via email
Email all required documentation to customerservice@sasfin.com, including:
- Account holder name(s)
- Account number(s)
- Mobile number
Important
- Payouts can only be made to bank accounts in the same name.
Example: ABC Shoes to ABC Shoes is acceptable; ABC Shoes to XYZ Plumbing is not.
- Once documentation has been validated, payouts will reflect within 5–7 working days.
Customer Service
For queries or assistance please contact:
Email customerservice@sasfin.com
Telephone 080 23 23 23 6
Hours Monday to Friday, 08h00 to 16h30
Note: If no action is taken by 2 March 2026, Sasfin will no longer be able to assist with payout requests.