New Banking Rule – Big Banking Change Alert! Starting June 15, 2025, new ATM withdrawal rules will come into effect across all major banks in South Africa. The South African Reserve Bank (SARB) has confirmed this update in an effort to curb fraudulent transactions, streamline digital banking, and manage cash flow more efficiently. This article gives you a detailed breakdown of the new withdrawal limits, card usage restrictions, and what it means for every South African banking customer.
Why Are New Banking Rule Changing from June 15?
The changes come as part of the government’s strategy to enhance digital transactions while reducing reliance on physical cash. In recent months, there has been a significant increase in ATM fraud and daily cash hoarding, leading banks and regulators to tighten withdrawal guidelines. Starting June 15, 2025, the revised limits will apply to debit cards, credit cards, ATM usage, and even teller-assisted withdrawals.
Key Objectives of the New Banking Rule:
- Prevent excessive cash hoarding and black-market cash usage
- Encourage contactless and digital payments
- Improve bank liquidity and manage operational risk
- Address ATM and card fraud, especially targeting pensioners and rural populations
Updated ATM Withdrawal Limits by Bank (Effective June 15)
| Bank Name | Daily ATM Limit (Old) | New Daily ATM Limit | Weekly Cap | Branch Withdrawal Limit | Notes |
|---|---|---|---|---|---|
| FNB | R5,000 | R3,500 | R15,000 | R10,000 | Only 3 ATM withdrawals per day |
| Standard Bank | R6,000 | R4,000 | R18,000 | R12,000 | Teller ID required above R5,000 |
| Absa | R4,500 | R3,000 | R12,000 | R9,000 | OTP for ATM withdrawal > R2,500 |
| Nedbank | R5,500 | R3,500 | R14,000 | R10,000 | Charges revised |
| Capitec | R5,000 | R2,500 | R10,000 | R7,500 | No free withdrawals on Sunday |
| TymeBank | R3,000 | R2,000 | R8,000 | R6,000 | Limits only on card, not account |
| Postbank | R2,500 | R1,500 | R6,000 | R5,000 | Mainly for SASSA cards |
Impact on Debit & Credit Card Users
Many card users will now face additional restrictions both at ATMs and POS (Point-of-Sale) terminals. Daily and weekly caps will vary by card type and bank.
Main Changes Affecting Cardholders:
- Debit cards: Lower daily withdrawal limits and limited free ATM uses per week.
- Credit cards: Higher interest rates if used for cash withdrawals post-June 15.
- POS limits: Some banks are introducing per-transaction caps for security reasons.
- Linked accounts: Joint and shared accounts will have combined limits.
How Will This Affect Pensioners and Social Grant Beneficiaries?
Pensioners and SASSA grant recipients are among the most impacted groups. Postbank and SASSA cards will be subject to tighter restrictions to prevent fraud and over-withdrawal.
Updated Rules for SASSA & Postbank Users:
- Maximum daily withdrawal: R1,500
- Only 2 ATM withdrawals allowed per day
- Mandatory fingerprint or OTP authentication
- Over-the-counter withdrawals must not exceed R5,000 weekly
Important: Beneficiaries are advised to switch to digital payments via SASSA-linked merchant cards and mobile wallets to avoid disruptions.
How to Prepare for the Withdrawal Limit Changes
With just a few weeks left, all bank customers should take proactive steps to avoid surprises at the ATM.
Here’s What You Should Do:
- Update your contact details with your bank to receive alerts
- Set up mobile or internet banking for safer transactions
- Reduce dependence on cash by using tap-to-pay and QR payments
- Visit your nearest branch if you have special withdrawal needs
Digital Payment Options to Consider:
- SnapScan
- Zapper
- Apple Pay / Samsung Pay
- Bank Mobile Apps
- EFT (Electronic Funds Transfer)
FAQs – New Banking Rule
Q1: Do these rules apply to international ATMs?
A: No, these limits are applicable only within South Africa. International usage will follow global standards unless your bank has specific restrictions.
Q2: Can I increase my ATM limit temporarily?
A: Yes, in most banks, you can request a temporary ATM limit increase by visiting your branch or calling the helpline.
Q3: Will senior citizens be exempted?
A: No complete exemptions, but certain relief measures like teller support and home delivery may be offered to senior citizens above 75 years old.
Q4: Are these rules permanent?
A: These are being implemented on a pilot basis for the next 6 months and will be reviewed by SARB based on performance.
Q5: Can I use my debit card for more than 3 withdrawals in a day?
A: You can, but banks like FNB and Absa will charge extra fees for every additional ATM use beyond the allowed limit.
Bank Helpline Numbers & Official Contact Info
Conclusion – New Banking Rule
The new withdrawal limits starting June 15, 2025, mark a significant shift in how South Africans interact with their banks. While it may feel restrictive at first, the move encourages safer and faster digital transactions and protects citizens from growing ATM-related crimes. If you’re still reliant on cash, now is the time to explore mobile payments, e-wallets, and secure digital banking alternatives. Stay informed, plan ahead, and contact your bank’s helpline if you need personal assistance.