Somewhere in South Africa 🇿🇦:SARS Big Bank Alert : In a significant move to tighten financial monitoring and curb illicit transactions, South African banks have announced new withdrawal rules coming into effect from 10 May 2025. Under the directive issued in coordination with the South African Revenue Service (SARS), all banks will be obligated to report cash withdrawals exceeding a certain limit directly to SARS. This change has created a wave of concern among regular account holders, businesses, and the self-employed.
Personal Savings Account R10,000
Current Account (Personal) R20,000
Business Account R50,000
ATM Withdrawal (Any) R5,000
International Card Use R15,000
Corporate Card Withdrawal R100,000
Student/Youth Accounts R3,000
Joint Accounts R25,000
Personal Savings Account R10,000
Current Account (Personal) R20,000
Business Account R50,000
ATM Withdrawal (Any) R5,000
International Card Use R15,000
Corporate Card Withdrawal R100,000
Student/Youth Accounts R3,000
Joint Accounts R25,000