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South African Revenue Service to discontinue use of cheques from 2021

Friday 13 November 2020 15:01 CET | News

The South African Revenue Service (SARS) has announced it will discontinue the use of cheques from 2021.
SARS said that taxpayers and customs clients who need to pay SARS can use eFiling, Electronic Funds Transfer (EFT), or at a bank branch (cash and EFT). All payments can be made at any ABSA, Capitec, FNB, Nedbank or Standard Bank branch. Travellers entering and leaving the country will still be able to pay cash at the port of entry.

The move has been hastened by various limit reductions, the continued reduction of cheque usage during the Covid-19 lockdown period as well as the adoption of digital and cheaper alternatives by clients, according to businesstech.co.za.

Cheque books are seldom seen in society today, with the convenience of contactless cards taking over the payments space. Historically, clients would have been able to pay up to R5 million using a cheque, the bank said. Standard Bank said that it will stop the use of all cheques on 31 Devember.


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Keywords: SARS, The South African Revenue Service, cheque, contactless payments, South Africa, payments, EFT, ABSA, Capitec, FNB, Nedbank, Standard Bank
Categories: Payments & Commerce | Online Payments
Countries: South Africa
This article is part of category

Payments & Commerce