Starting from February 2, 2026 people who use banks in South Africa will notice changes to how much cash they can withdraw with their debit and ATM cards. The South African Reserve Bank (SARB) and the Financial Sector Conduct Authority (FSCA) have released new rules that set different daily and monthly withdrawal limits. The goal is to reduce fraud and make banking safer while also helping banks manage their cash better. These changes will affect millions of people who use their cards to get cash for daily expenses or small business needs or to collect social grants. Many people are talking about this announcement because it impacts pensioners & SASSA grant recipients and low-income families who depend on ATMs to access their money. This article explains the new rules and shows who will be affected most and offers advice on how South Africans can adjust to these banking changes. The new withdrawal limits vary depending on what type of account you have. Standard savings accounts now have a daily withdrawal limit of R5000 and a monthly limit of R25000. Current accounts allow R10000 per day & R50000 per month. Basic bank accounts which are often used by grant recipients have lower limits of R2000 daily and R8000 monthly. Premium accounts offer higher limits at R20000 per day and R100000 per month. These limits apply to all ATM withdrawals and point-of-sale cash-back transactions. The restrictions do not affect electronic payments or card purchases at stores. Banks will monitor accounts automatically and block any withdrawal attempts that exceed these limits. The people most affected by these changes include SASSA beneficiaries who collect grants in cash and elderly pensioners who prefer using ATMs over digital banking and informal traders who operate cash-based businesses & rural communities with limited access to card payment systems.
Why South Africa Is Tightening Card Withdrawal Limits
South Africa is revising card withdrawal policies in response to a growing wave of cash-related criminal activity. Reports of ATM bombings, card cloning, and skimming have surged, prompting action from both banks and regulators. At the same time, the growth of digital banking platforms is encouraging a shift toward safer, more controlled financial practices. The new rules, effective from February 2, aim to reduce risks in urban fraud hotspots, protect grant beneficiaries, curb illicit cash flow, and accelerate the move to cashless transactions.
Updated ATM and Debit Card Limits Starting February 2
Beginning February 2, South Africa’s major banks will enforce new limits on ATM withdrawals and debit card usage. These revised caps are designed to improve transaction tracking and reduce excessive cash movement. Here’s a breakdown of the updated daily and monthly limits per bank:
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– ABSA: R3,000 daily, R25,000 monthly
– Standard Bank: R3,500 daily, R30,000 monthly
– Capitec: R2,500 daily, R20,000 monthly
– Nedbank: R3,000 daily, R25,000 monthly
– FNB: R3,500 daily, R30,000 monthly
– TymeBank: R2,000 daily, R15,000 monthly
– African Bank: R2,500 daily, R20,000 monthly
– Discovery Bank: R3,000 daily, R25,000 monthly
These restrictions limit daily cash usage, reduce banking fees from multiple withdrawals, and support a safer financial system.
Who Will Feel the Most Impact
While the new rules apply to all customers, specific groups are likely to feel a more direct effect. SASSA grant recipients withdrawing monthly funds for child support or pensions may need to adjust how they access cash. Small business operators who rely on daily cash flow could face constraints, while cash-based freelancers or those planning large payments might need to visit bank branches more often. The transition encourages broader adoption of mobile banking tools and safer, non-cash methods for daily transactions.
New Caps on Card Spending at POS Terminals
Limits now also apply to point-of-sale transactions, aiming to reduce fraud at retail outlets and merchant terminals. These caps vary by sector:
– Groceries: R5,000 daily
– Fuel stations: R1,200 daily on debit cards
– Electronics stores: R7,000 daily
– Jewellery/gold outlets: R10,000 daily for verified users
– Online card transactions: R4,000 daily with two-factor authentication
– Unverified merchants: R500 daily cap
– Cash withdrawals at retailers: R1,000 daily
These measures aim to curb point-of-sale fraud and better regulate high-risk transactions in key spending categories.
What Lies Ahead for Card Users and Banks
The South African Reserve Bank and National Treasury see these revisions as both preventive and progressive. With fraud-related claims rising by 12% in recent months, the changes seek to protect users while modernising financial operations. Future plans may include biometric ATM access, tighter controls for specific accounts, and expansion of digital-only services. Adapting to these limits through digital wallets, strategic planning, and in-person banking where needed can ensure smoother transactions under the new system.
