SARS Banking Details Update Guide
Keeping your banking details updated with SARS is crucial for receiving tax refunds promptly and making payments efficiently. Incorrect or outdated banking information can cause significant delays in refund processing. This comprehensive guide covers everything you need to know about updating your banking details with SARS.
Why Update Banking Details?
Importance of Correct Banking Information
Critical for Refunds:
- Refunds processed to bank account
- Incorrect details delay refunds
- May require manual processing
- Can cause significant delays
Payment Processing:
- For tax payments
- Debit orders (if applicable)
- Payment confirmations
- Account reconciliation
Consequences of Incorrect Details:
- Refund delays
- Payment failures
- Processing issues
- Inconvenience
- Additional verification needed
When to Update Banking Details
Situations Requiring Updates
Account Changes:
- Changed bank accounts
- Closed old account
- Opened new account
- Account number changed
Before Tax Season:
- Update before filing returns
- Ensure refunds go to correct account
- Verify details are current
- Avoid delays
After Account Issues:
- If refund failed
- Payment issues
- Account verification failed
- SARS requests update
How to Update Banking Details
Via SARS eFiling
Step-by-Step:
-
Log In to eFiling
-
Navigate to Banking Details
- Click on "Profile"
- Select "Banking Details"
- Choose "Update" or "Edit"
-
Enter New Details
- Bank name
- Account type (cheque, savings, etc.)
- Account number
- Branch code
- Account holder name
-
Verify Information
- Double-check all details
- Ensure account is in your name
- Verify account number
- Confirm branch code
-
Save Changes
- Click "Save" or "Update"
- Confirm changes
- Note confirmation message
- Keep record
Verification:
- May require verification
- SARS may verify with bank
- Confirmation sent
- Update activated
Via SARS MobiApp
Mobile Update:
- Open SARS MobiApp
- Log in with eFiling credentials
- Navigate to "Profile"
- Select "Banking Details"
- Enter new information
- Save changes
Via SARS Branch
In-Person Update:
- Book appointment
- Visit SARS branch
- Bring required documents
- Complete update form
- Submit documents
- Receive confirmation
Required Documents:
- Valid ID
- Bank statement or proof of account
- Account details
- Other supporting documents
Required Information
Banking Details Needed
Account Information:
- Bank name
- Account type
- Account number
- Branch code
- Account holder name
Important Requirements:
- Account must be in your name
- Active account
- Correct account number
- Correct branch code
- Valid account type
Finding Branch Code
Methods:
- Check bank statement
- Contact your bank
- Bank website
- Mobile banking app
- Bank branch
Format:
- Usually 6 digits
- Specific to branch
- Required for transfers
- Verify accuracy
Verification Process
SARS Verification
How It Works:
- SARS may verify with bank
- Checks account exists
- Verifies account holder name
- Confirms account is active
- Activates update
Timeline:
- Usually 1-3 business days
- May take longer
- Check status on eFiling
- Contact SARS if delayed
What Happens After Update
Processing:
- Details verified
- Update activated
- Confirmation sent
- Ready for use
For Refunds:
- Future refunds to new account
- Previous refunds may need re-request
- Check refund status
- Contact SARS if needed
Common Issues
Update Not Saving
Possible Causes:
- Technical issue
- Incomplete information
- Invalid account details
- System error
Solutions:
- Verify all information
- Check account details
- Try again
- Contact SARS if persists
Verification Failed
Possible Causes:
- Account not in your name
- Account closed
- Incorrect details
- Bank verification failed
Solutions:
- Verify account is in your name
- Check account is active
- Double-check all details
- Contact bank if needed
- Try again
Refund Still to Old Account
Situation:
- Updated banking details
- Refund still processing to old account
- Need to redirect
Solutions:
- Contact SARS immediately
- Explain situation
- Provide new account details
- Request refund redirection
- May need to re-request refund
Best Practices
Before Updating
Preparation:
- Have new account details ready
- Verify account is active
- Confirm account is in your name
- Have branch code
- Double-check all information
Accuracy
Important:
- Enter details carefully
- Double-check account number
- Verify branch code
- Confirm account holder name
- Match bank statement exactly
Timing
When to Update:
- Before tax season
- Immediately when account changes
- Before expecting refund
- When account closes
- As soon as possible
Security Considerations
Protecting Information
Security:
- Only update via official channels
- Never share banking details unnecessarily
- Use secure connection
- Verify you're on official site
- Log out after updating
Scams:
- Be wary of phishing
- Only use official SARS channels
- Never share details via email
- Report suspicious activity
Troubleshooting
Refund Delayed After Update
Possible Causes:
- Update not yet processed
- Verification pending
- Refund already processed to old account
- System delay
Solutions:
- Check update status
- Verify update was successful
- Contact SARS
- Check refund status
- Request refund redirection if needed
Cannot Update Online
Possible Causes:
- Account locked
- Technical issue
- Verification required
- System maintenance
Solutions:
- Try again later
- Contact SARS call centre
- Visit SARS branch
- Get assistance
Frequently Asked Questions
How long does it take for banking details to update?
Usually 1-3 business days after verification. SARS may need to verify with your bank.
Can I use someone else's bank account?
No, the account must be in your name. SARS requires the account holder name to match your tax profile.
What if my refund was sent to the wrong account?
Contact SARS immediately. They may be able to reverse and redirect, but this depends on timing and circumstances.
Do I need to provide proof of bank account?
Usually not for online updates, but SARS may request proof if verification fails or for certain updates.
Can I have multiple bank accounts registered?
Generally, you register one primary account for refunds. Contact SARS if you need multiple accounts.
What if I don't have a bank account?
You may receive refunds via cheque, but this takes longer. Consider opening a bank account for faster processing.
Conclusion
Keeping your banking details updated with SARS is essential for receiving refunds promptly and ensuring smooth tax processing. By updating details immediately when they change, verifying information carefully, and ensuring the account is in your name, you can avoid delays and ensure efficient refund processing. Remember that verification may take a few days, so update well before expecting refunds.
For assistance with updating banking details or if you encounter issues, contact SARS directly or visit a branch with required documents.
Related Articles:
Official Resources:
