Investors and account-holders have been reassured that debit and stop orders on Saambou accounts will be met within limits and interest will continue to accrue on investments at the bank.
This assurance was given by Christo Wiese, the Registrar of Banks, to Personal Finance today (Tuesday, February 12).
Saambou customers, as well as customers of the bank's online banking arm, 20twenty, learnt this morning that they will have to wait until Thursday (February 14) before they can access their money - up to a limit of R4 000.
If you have a Saambou account, your monthly financial commitments via debit orders and stop orders will be honoured by the bank when presented for payment, as long as they remain within the R4 000 maximum that investors and account-holders will be able to access.
Interest will continue to accrue on investments, but investors will only be able to access a total of R4 000 of their money initially.
There is no freeze on money that was paid into Saambou accounts after 1pm on Saturday, when the bank was placed under curatorship.