PIENAAR, MPUMALANGA — A severe PostBank Stokvel savings dispute has left a Mpumalanga community group scrambling to access eight years of accumulated funeral funds. Members of the Comfort Group allege they have been entirely blocked from withdrawing their money, sparking panic and internal distrust after the historic dissolution of the bank’s partnership with the national postal service.
Based in KaDantjie, Pienaar, the 10-woman collective has relied on the financial institution since 2018 to pool resources for family bereavements. The crisis erupted earlier this year when the group attempted to access their emergency reserves. According to the members, the ordeal began following a routine deposit in April. When they returned the following month to make a withdrawal, staff allegedly informed them that their physical bank book was full and required updating.
The situation rapidly deteriorated when the women attempted to secure a replacement book. Instead of a simple administrative fix, the members claim they were abruptly told they could no longer bank at the facility, that the PostBank was effectively “closed” to them, and that their funds were completely out of reach.
The blockade has had devastating emotional consequences. The women report that the past few months have been deeply painful, as they are now powerless to support each other during funerals. Furthermore, the crisis has fractured the group’s unity; the specific members entrusted with physically depositing the cash are now facing suspicion and a breakdown of trust from their peers who fear the capital is lost.
The root of the confusion appears to be tied to a massive structural shift in the country’s financial landscape. In May of this year, the South African Post Office and PostBank officially severed their 142-year-old partnership after their service level agreement expired. While the physical post offices shut their doors to the bank’s clients, the financial institution insists that customer accounts remain fully active and accessible through alternative channels.
Addressing the operational fallout, Thamsanqa Cele, PostBank’s Chief Commercial Officer, outlined the new procedures for affected clients. Cele confirmed that physical post offices are no longer viable touchpoints for customers. For those needing to deposit funds, he directed clients to utilize Standard Bank ATMs or visit Standard Bank branches in person. To process these deposits, customers must present their ID number alongside their specific account type indicator: “S” for Smart Save accounts, “T” for transactional options like Mansi or Flexi, or “G” for group savings schemes like the one utilized by the Comfort Group.
Cele also provided clarity on how stokvels and individuals can finally access their locked funds. He explained that customers can execute withdrawals at select retail stores that still host PostBank services. Transactions under 2,500 rand can be processed directly at these retail till points. However, for larger withdrawals—such as the bulk sums typically required by a 10-member burial society—Cele stated that clients must contact the PostBank helpline in advance to make special arrangements.
