ATMs to cut pension queues
5 August 2003
Eastern Cape pensioners and recipients of child care grants can now access their money from any First National Bank or Standard Bank auto teller machine.
In terms of an agreement between the government and the two banks, pensioners and people receiving child grants will, from this month, be able to get their money either from the banks or from selected service providers such as Cash Paymaster Services.
People who receive these social grants will be allowed two transactions per month without the usual bank charges; will not be liable for upfront charges, such as the usual deposit required to open a bank account; and will be able to access their money from anywhere in the country, from the first day of the month to the last.
The spokesperson for the provincial department of social development, Gcobani Maswana, said that this was the first time that such services were being extended to disadvantaged people and the poor, adding that the
service would help ease long queues at pension payout points.
The department of social development is subsidising the banks with about R13.50 per account created. This was no different from any other service provider, Maswana said, noting that Cash Paymaster Services charged the government about R22 per grant recipient.
Source: BuaNews
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