Blog Post
16 May, 2025
New Banking Regulations in South Africa effective from June 15, 2025
By Adedayo Emmanuel.
New banking regulations scheduled to take effect on June 15, 2025. These changes aim to enhance financial security and promote digital banking practices. These regulations introduce significant changes to transaction limits for ATM withdrawals, Electronic Funds Transfers (EFTs), Point of Sale (POS) transactions, interbank transfers, and international payments. Furthermore, they mandate the implementation of enhanced security measures, including biometric authentication for ATM withdrawals exceeding R2,000 and SMS One-Time Passwords (OTPs) for mobile banking transactions above R2,000 Key updates include: All Seasons Taxi Falmouth+3IPI Africa+3Prabh Honda+3
ATM Cash Withdrawals
Daily limits will be reduced from R5,000 to R3,000.
EFT via Mobile App
Daily limits will decrease from R10,000 to R7,500.
Interbank Transfers
Daily limits will be adjusted from R20,000 to R15,000.
Debit Card POS Limit
Transaction limits will be lowered from R25,000 to R20,000.
International Payments
Limits will be reduced from R50,000 to R35,000.
Biometric Authentication
Mandatory for ATM withdrawals above R2,000.
SMS OTP
Required for all transactions exceeding R2,000.
These measures are part of a broader initiative to strengthen financial transparency, reduce fraud, and encourage the use of digital payment methods. IPI Africa
The above information is for education and awareness, it will not have any negative impact on our clients as regards to pay-out https://adebfinance.co.za/. Adeb Finance is a forward thinking organization and does not do cash-base lending, our system is completely digitalized to support the cashless policy and fraud prevention measures of the South Africa Reserve Bank.