SA CAR INSURANCE
Sassa card works like a credit card but without repayments. South African Social Security Agency (SASSA) has made the public aware that Sassa beneficiaries are being advised to take a new bank card, as the old SASSA card will expire in March 2019.
The SASSA payment card operates like most bank cards and social grant beneficiaries are able to enter into debit order agreements for products/services, and have payments effected from their accounts.
The challenge faced by SASSA is that in some cases, the financial products are sold to social grant beneficiaries without them understanding the full implications of what they are agreeing to. However in order to overcome this impending challenge it is necessary to understand how banks work in relation to your Sassa card and payments made to this card.
The Sassa new Card can be obtained at the various Sassa branches and offices near you. However special considerations are made for people who cannot visit the Post office. The beneficiary can designate a relative to take the grants on behalf of the recipient.
Debit Cards In South Africa
Many People still use debit cards today although it is fast becoming an unpopular means of making payments. Debit cards are just like credit cards. However while with credit cards you use money you do not have in a form of a loan or credit offered by your financial institution, the debit card allows you to transfer money directly from your bank account with money to a recognized bank card and use it at ATMs or in withdrawing money. Most banks offer these services to their clients. users of the Sassa Card can opt for ban payments instead where the money will e paid into their bank accounts but can also make withdrawal from their sassa cards.
Top banks in South Africa with great banking services with respect to debit cards:
- Standard Bank Debit Cards
- ABSA Debit Cards
- Nedbank Debit Cards
- Bidvest Debit Cards
- African Bank Debit Cards
- Fnb Debit Cards
Services you can Access with your Sassa Card.
It is a well known fact that many people use their Sassa cards as collateral in order to secure a loan for them to undertake some sort of venture to enable them get a better standing financially. The only problem with this is that most people are creatively persuaded into committing to a lot of services including insurance as a mandatory sign up before the loans are granted. Although this is highly unethical many institutions have ventured into this line of persuasion.
Sassa Loans With Banks in South Africa
Sassa loans are basically your normal standard loans but with your Sassa grants monthly payments as collateral. Each month when your payments reflects in the account, a corresponding debit is placed on the account in order to settle the impending debt on the Loan account. This is basically how a loan works. However, carefully read the terms of this contract before appending your signature and be advised to seek clarity from the right sources about any mandatory service which is creatively pushed your way. Never be afraid to Take a day to think about your contract or decision to take out a loan before. Do not be rushed into making commitments you no nothing about with respect to getting a loan from any bank in South Africa.
A credit card on the other hand is simply a loan which is given to you through a card hence making it convenient to use. With regards to securing a credit card loan with a Sassa card, it is not very clear. However Credit cards usually have high interest rates which can serve as a deterrent for most people. The trick with all credit cards is simple, the credit card company will give you enough credit allowance just in case you need to withdraw over your limits . this comes at a slightly higher charge but most people take this option because it is convenient. However it is statistically known that the rate at which credit card loans leads to a loan trap for most people is very high. manage your credit card debts well you you will be fine. Buy what you need and not your desires if you do not have a study source of income.
Sassa Card holders are advised to get the new Sassa card before their accounts are deactivated.