How to Change Banking Details for the SRD Grant?

I want to share my own experience of updating my SASSA banking details for the SRD grant. This happened last January, just as I was getting ready for the new year.

A cousin of mine came to visit and suggested I try TymeBank for my SRD grant. He explained how it makes managing SASSA payments easier and offers useful features for beneficiaries.

I decided to open a TymeBank account. Once that was done, I needed to update my bank details on the SASSA SRD portal. I wasn’t completely sure how to do it, so I went to the nearest SASSA office. An officer there guided me through the process and helped me change my banking information.

Now, I want to share the exact steps I followed. It’s straightforward, and I’ve tested it myself, so you can rely on it too.

Why Choose TymeBank for SRD Grant Payments?

Many SASSA grant recipients are now choosing TymeBank. Here’s why:

GrantAdvance Feature

TymeBank provides a GrantAdvance option. Eligible users can borrow up to R1 000 before their next SRD payment. The amount is automatically repaid when the new grant arrives.

No Monthly Charges

There are no monthly fees for TymeBank accounts. This makes it easier to keep more of your SRD money each month.

Convenient Access at Stores

You can collect your SASSA payment from Pick n Pay or Boxer outlets anywhere in South Africa. This avoids long queues and saves time.

How to Change Banking Details for the SRD Grant?

These are the steps I followed to switch my SASSA banking details to TymeBank. You can also use this method if you want to update your account to Capitec Bank.

1) Visit the SRD Portal (srd.sassa.gov.za banking details)

Go to the official SASSA SRD portal to begin updating your bank account information. The website is srd.sassa.gov.za. You’ll need an internet-enabled device to access it. This portal lets you not only update your banking details but also check your SASSA status, apply for the SRD grant, and view your upcoming SASSA payment dates.

2) Choose Your Citizenship Type

When you reach the SRD portal homepage, you will need to select one of the following:

• South African ID Holder
• Asylum Seeker or Special Permit Holder

This step is important because SASSA directs you to the correct page based on your type of citizenship.

3) Find the “How Do I Change My Banking Details” Option

On the following page, look for the link labeled “How Do I Change My Banking Details.” Below it, there is a field where you must enter your South African ID number.

After entering your ID, you will get an SMS on the phone number you used when applying for the SRD grant. Open the message, and it will contain a URL that you need to follow.

4) Fill Out the Change Banking Details Form Online

When you click the URL, it will open in your web browser, such as Chrome or Firefox. This page is your form to update your bank account details. Follow these steps to complete it:

1. Select your bank from the list. I chose TymeBank, but you can pick your bank, like Capitec, Standard Bank, ABSA, or FNB.
2. Enter your full bank account number.
3. Provide your IBAN.
4. Fill in your SWIFT code.
5. Type your full legal name.
6. Double-check all the information and submit the form.

SASSA will then send a one-time PIN (OTP) to the phone number linked to your SRD grant. Enter this OTP to verify and confirm your changes.ur details.

Why Choose a Bank for SRD Payments?

Using a bank transfer method for SRD grant is a better solution. Find out why:

• Faster Payments: Your grant is deposited directly into your account. No need to wait for SMS notifications or paper vouchers.
• Safe and Protected: You don’t need to carry cash around. Your money stays secure in the bank.
• Convenient Withdrawals: Take out cash at ATMs, retail stores, or manage it through banking apps.
• Monitor Your Funds: Receive SMS alerts for every transaction and check your balance whenever you want.
• Skip Long Lines: No more waiting in queues at pay points or post offices.
• 24/7 Access: Pay bills or buy airtime anytime using your card or mobile app.
• Better Money Management: Banks provide tools like savings compartments or spending trackers to help control your finances.
• Extra Benefits: Some banks, like TymeBank, offer small loans, cashback, or other perks.
• Start Building Credit: Using a bank account helps you establish a financial history for the future.

Why are My Banking Details Pending and Not Approving?

Sometimes, after updating your banking details on the SRD portal, the status may stay “Pending” for several days. This is normal for up to 30 days. But if it stays pending for longer than 30 days, it indicates an issue.

You should visit your nearest SASSA office and lodge a complaint. Bring your ID and proof of your new bank account.

Here are the most common reasons why your banking details might not be approved:

• Incorrect Bank Information: If you entered the wrong account number, branch code, or bank name, SASSA will not accept your details.
• Bank Account Not in Your Name: SASSA only approves accounts registered under your own ID. If it belongs to someone else, the update will remain pending.
• Inactive or Closed Account: If the account is closed or inactive, the system cannot process your grant payment.
• Bank Verification Delays: Sometimes, banks take longer to confirm your details with SASSA, causing delays.
• Phone Number Mismatch: If the number linked to your SRD application does not match your current phone, you may not receive the OTP, leaving the update incomplete.

Best Banks for SASSA SRD Grant Beneficiaries in 2026

If you receive the SRD grant, it’s important to pick a bank that is safe, simple, and affordable. Here are the best banks for SASSA SRD grant payment receiving:

TymeBank

• No monthly charges: Keep your account active without paying fees, so you save more of your grant.
• GrantAdvance option: Borrow up toR1 000 before your next payment. The amount is repaid automatically with your next grant.
• Withdraw at Pick n Pay or Boxer: Collect your money without visiting an ATM or branch.

Capitec Bank

• Easy account opening: You just need your ID and phone number.
• Low fees: Very budget-friendly for people with limited income.
• Banking app: Check your balance, transfer money, and buy airtime anytime.

Postbank

• SASSA-friendly: Many beneficiaries already receive grants through Postbank.
• Cash Send feature: Send money to someone else even without a bank card.
• Available at post offices: Convenient locations make it easy to access your funds or get help