From May 25, South African banks will raise the ATM withdrawal fee. This will put further strain on already tight household budgets, particularly for pensioners and fixed-income citizens. It’s something that has come under scrutiny by social grant beneficiaries and ordinary consumers alike.
Meanwhile, SASSA has published its complete calendar and qualification information for the June Old Age Grant. With inflation rates and changing fees on the up, it is more important than ever to stay abreast of the updates.
ATM Withdrawal Fees to Increase
Starting May 25, South African bank clients will pay extra when they withdraw cash from ATMs. The hike in fees applies to both local and cross-bank transactions, influencing the amount of money individuals can withdraw and how frequently they opt to do so. The adjustment is expected to affect elderly people and poor individuals most, particularly those who use cash extensively for daily use.
June SASSA Old Age Grant Payment Schedule
The South African Social Security Agency (SASSA) has made public the full payment plan for the June 2025 Old Age Grant. Payments will commence early in the month to allow beneficiaries to receive assistance on time. This monthly grant remains a source of economic sustenance for millions of elderly citizens, which assists with the payment of basic necessities such as food, medication, and transportation.
Who Is Eligible for the June Old Age Grant?
Eligibility for the June Old Age Grant continues to be in line with SASSA’s current criteria. Applicants need to be 60 years and older, permanent South African residents or citizens, and cannot receive any other social grants or earn income over the threshold. Applicants are also subject to a means test to determine financial need. These tests ensure the grant goes to the most needy members of society.
Keeping Ahead of Cost of Living Burdens
As ATM charges rise and domestic costs increase, news such as SASSA’s June grant information provides some financial security. It is crucial that older citizens remain informed about the changes and make arrangements in advance. Having precise knowledge of when payments will be received and being aware of what one must qualify for means less disruption to budgets, particularly during a period of economic hardship.