PIENAAR, MPUMALANGA — A growing financial dispute has emerged in the province, with a local community group accusing PostBank of withholding Stokvel savings intended for critical family emergencies. Members of the Comfort Group, based in KaDantjie in Pienaar, claim they have been entirely locked out of their accounts this year despite being loyal clients for nearly a decade.
The 10-member stokvel has been diligently saving with the institution since 2018. The group relies on these accumulated funds to provide a vital financial safety net for emergencies, primarily to cover the costs of funerals within their families. However, when the women attempted to access their money earlier this year, their efforts were met with frustrating roadblocks and little to no explanation.
According to the group, the crisis began after they made a routine deposit in April. When they returned in May to make a withdrawal, they were initially told their bank book was full and needed to be updated. Upon attempting to secure a new book, the members were allegedly informed that they could no longer bank at the institution, that the PostBank was “closed,” and that their money was completely inaccessible.
The situation has caused significant emotional and financial distress for the women involved. The inability to access the funds means they cannot support one another during bereavements. Furthermore, the crisis has sparked internal friction; the specific members tasked with physically depositing the cash now face a lack of trust from the rest of the group, who fear the money may be lost.
The confusion stems from a major institutional shift. In May of this year, the South African Post Office and PostBank officially ended their 142-year-old partnership following the expiration of their service level agreement. Despite the historic split, PostBank maintains that its clients can still fully utilize its financial services.
Addressing the transition, Thamsanqa Cele, PostBank’s Chief Commercial Officer, clarified that physical post offices are no longer available for PostBank customers. Cele explained that customers looking to deposit money can now use Standard Bank ATMs or visit Standard Bank branches for assistance. To complete a transaction, customers simply need their ID number and their account type indicator—such as “S” for Smart Save, “T” for transactional accounts like Flexi, or “G” for group savings and schemes.
Regarding access to the contested funds, Cele noted that customers looking to withdraw from their savings accounts can visit retail stores where PostBank services are still active. Cele specified that withdrawals under 2,500 rand can be processed at these retail locations, while clients needing to withdraw larger amounts must make prior arrangements directly through the PostBank helpline.