I went to verify my bank details at a SARS office only to find I have a third party bank account and I quote from SARS website "A third party account is an account where there is a main member but a secondary member has signing authority. No change of banking details will be allowed by a third party. If the secondary member is the taxpayer to whom a refund is due, he/she will have to open his/her individual bank account." I have a problem with this. I closed my personal account to avoid duplication of bank fees and am now being told to get a new account and, no, SARS will not pay the bank charges that will become due. Does a government agency have the right to tell me where to place my own money (my refund) if I have proved my identity to a reasonable degree?
Unfortunately SARS does in this case. The best solution is to go to Capitec Bank and open a simple savings account, wait a few days and then upload these banking details. Thereafter you can close this account or leave it open. There are very minimal banking charges.
Helensays: 26 September 2013 at 22:11
And would probably need to open a new one each year, and have the hassle of verifying the details each year? I think this is a battle I will not win but must admit it leaves a very sour taste. Thank you
TaxTimsays: 26 September 2013 at 22:41
We agree, our tax director faced this exact problem with a client and was really frustrated by this very process. However if you open a simple account and make those your banking details you will not need to verify each year, doing it this current year will be enough for SARS.
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