FNB has been appointed by National Treasury to pay out Ithala SOC Limited depositors.
This process will begin on 8 December 2025 via FNB’s national branch network.
How FNB will help Ithala customers
- Ithala account holders will be advised, via an SMS, to visit their nearest FNB branch to complete a process to obtain their payouts.
- Customers will be identified and verified as legitimate Ithala account holders at the branch and will be required to produce:
- South African ID
- Proof of Residence
- Bank account confirmation letter, if the customer is not banked by FNB
- The customer will then complete a payment instruction form.
- Finally, customers will then also sign a deed of cession form to acknowledge receipt of payments as full and final settlements.
It is important to note that payments will only be made after all verification and compliance checks have been completed, this may take up to two days.
How and where payouts will be made:
Pay-outs can be accessed at any FNB branch in the country and will be managed to limit queues and long waiting times. Customers will receive an SMS with the dates they can visit their nearest FNB branch.
As the largest concentration of Ithala customers is in KwaZulu-Natal (KZN), FNB is extending its operating hours in the province, to best support those affected customers.
From 8 December to 31 December 2025 FNB KZN branches will be open from 07:30 to 17:00.
Customers can advise FNB how they would like to receive their payments.
FNB will make payments to any bank where the recipient is the primary account holder.
An eWallet payment can also be facilitated and FNB will also assist with the opening of new FNB accounts for the payment should the customer request this.
“These Ithala customers have not had access to their funds since January this year and helping them is a priority for us. Through our safe and secure banking solutions such as eWallet and our extensive branch and ATM network, we will make this process as simple and easy as possible for customers to obtain their funds,” says, Executive for Corporate Affairs, Jacqui O’Sullivan.
“Real financial inclusion requires customers to trust their banking channels, and we want to empower Ithala customers to claim back what is theirs and to have full faith in the safety and security of the process being offered to them.”
Contact Information
Customers can contact FNB advisors on 087 575 3279 for information relating to their nearest branch.
