The South African Post Office has issued a notice to all Postbank customers that, effective 2 May 2026, Postbank-related services at SAPO have ended.
The group said that Postbank-related transactions and support services will no longer be available at any SAPO branch.
This change follows the expiry of the Service Level Agreement (SLA) between SAPO and Postbank on 31 March 2026, after which Postbank declined to enter into a new SLA with the Post Office.
“SAPO kindly requests that Postbank customers do not visit Post Office branches for any Postbank banking services, as our staff will unfortunately be unable to assist with these transactions,” it said.
“Postbank customers are encouraged to make use of Postbank’s designated service channels and platforms for all their banking needs.”
From 2 May, Postbank’s savings account customers will need to access their deposit and withdrawal services through Standard Bank and retailers.
Postbank noted that this applies only to Postbank service account holders and does not affect social grant beneficiaries who already receive their payments through retailers and ATMs.
It stressed that SASSA recipients will continue to receive their grants as usual through existing channels.
As part of the new arrangement, Postbank customers will be able to deposit and withdraw cash through Standard Bank and participating retailers nationwide.
Cash deposits can be made at Standard Bank branches and ATMs, subject to the bank’s transaction limits and fees.
Withdrawals will be available at Standard Bank ATMs as well as retail stores using a cardless solution.
Customers can also access support services, including account management and statements, through Postbank’s Contact Centre via telephone, WhatsApp and email.
Postbank going its own way
The move forms part of a broader strategy to improve customer experience and expand access to modern, community-based banking services.
It also marks the final phase of the bank’s multi-year transition away from SAPO branches, following the completion of the migration of social grant payments in March 2023.
The end of the agreement marks the end of a 142-year-old relationship between the two institutions.
The South African Post Office is one of the oldest institutions in South Africa, having opened in 1792. It is also one of the oldest monopolies, being the only entity legally allowed to accept reserved mail.
Postbank, meanwhile, was established in 1875 as a government-owned bank.
At the time, it was decided to incorporate the bank into the Post Office. In 1884, the first Post Office Savings Bank was founded in Cape Town.
While the Postbank’s relationship with the Post Office dates back over a century, it was only in 1974 that the Post Office took full responsibility for the bank.
The bank then used the SAPO’s wide reach to provide services and reach depositors.
In 2010, legislation was enacted that enabled Postbank to convert from a deposit-taking institution to a full-fledged bank.
It was during this time that the group transitioned from a Post Office division to a separate company (SOC) under the South African Postbank Act of 2010.
This was supplemented by the Postbank Amendment Bill, which was signed into law by President Cyril Ramaphosa in September 2023.
The new legislation formally transferred Postbank’s shareholding from the South African Post Office to the government. It also created the bank-controlling company, Postbank SOC Limited.
Postbank recently hit a significant milestone in its new era as a standalone entity, having been registered as a licensed financial services provider with the Financial Sector Conduct Authority (FSCA).
The license, issued under the Financial Advisory and Intermediary Services Act (FAIS Act), authorises Postbank to provide financial advice and intermediary services related to financial products.
While the bank has celebrated the receipt of the FSP licence, it has not yet acquired a full commercial banking licence from the South African Reserve Bank via the Prudential Authority.
Receiving a banking licence will allow Postbank to expand access to financial services nationwide.
