How to Switch Bank Accounts in South Africa (Step-by-Step Guide)

By / September 9, 2025

Switching bank accounts can feel daunting, but it does not need to be. With a clear plan, the right documents, […]

How to Switch Bank Accounts in South Africa (Step-by-Step Guide)

Switching bank accounts can feel daunting, but it does not need to be. With a clear plan, the right documents, and a realistic timeline, you can move to a new bank with minimal disruption to your income, debit orders, and day-to-day payments. This guide breaks down each step, explains how debit order switching and DebiCheck work in South Africa, and provides practical templates and checklists you can copy into your own process.

Why people switch bank accounts

Common reasons include:

  • Lower monthly fees and better value bundles
  • Higher interest on savings or positive balances
  • Better digital banking, security, or customer support
  • Rewards programmes that match your spending
  • Access to features like virtual cards, budgeting tools, or travel benefits
  • Dissatisfaction with service, branch coverage, or app reliability

Whatever your reason, the switching process is manageable when you follow a structured approach.

Before you begin: set a realistic timeline

A successful switch typically spans two to six weeks:

  • Week 0–1: Research, choose the new account, open it, and get digital access.
  • Week 1–2: Move your salary and start debit order switching.
  • Week 2–4: Monitor one full billing cycle while both accounts remain open.
  • Week 4–6: Tie up stragglers, confirm every debit and credit has migrated, then close the old account.

Keeping both accounts active for at least one full billing cycle reduces the risk of missed payments and penalty fees.

Step 1: Define what you need from your next account

List your must-haves and nice-to-haves. For example:

  • Monthly fee cap or pay-as-you-use
  • Free ATM withdrawals or specific partner ATMs
  • Free EFTs or low interbank fees
  • Rewards that fit your spending
  • Separate savings pockets or notice deposits
  • Business banking add-ons (if relevant)
  • International transfers or multi-currency features

This list will keep you focused during comparisons.

Step 2: Compare accounts and shortlist one bank

Use your requirement list to compare:

  • Total monthly cost (including common ATM and EFT behaviour)
  • App reliability and security features (biometrics, virtual cards, card controls)
  • Rewards or cashback potential
  • Switching support (for debit orders and salary)
  • Branch and cash-deposit options, if you need them
  • Savings and investment options linked to the account

Shortlist one primary choice and a backup in case onboarding becomes complex.

Step 3: Open the new account (FICA and onboarding)

In South Africa, banks must verify your identity and address under FICA. You will typically need:

  • Valid South African ID (green barcoded ID, smart ID card, or passport for non-citizens)
  • Proof of address not older than three months (e.g., utility bill, bank statement, lease, municipal rates, or official letter)
  • Income verification if required for certain account tiers or overdraft

Complete onboarding in-app or in-branch. Once approved:

  • Activate your mobile and online banking
  • Set up two-factor authentication
  • Order your physical card (if not instant) and set a secure PIN
  • Generate proof of banking details letter or a bank confirmation letter — you will need this for employers and service providers

Step 4: Fund and test the new account

  • Transfer a small amount to confirm incoming transfers reflect correctly
  • Make a low-value payment to confirm outgoing EFTs work
  • Load your beneficiaries and set payment limits appropriately
  • Enable spend notifications, balance alerts, and low-balance warnings

Positive early tests give you confidence before you migrate income and obligations.

Step 5: Build your switching inventory

Create a simple tracker (spreadsheet or note) with three sections:

  1. Income sources
    • Employer payroll
    • Side income and clients
    • Government or grant payments
    • Marketplace payouts or payment gateways
  2. Debit orders and recurring charges
    • Insurance (car, life, household, funeral)
    • Medical aid and gap cover
    • Mobile, fibre, and pay-TV subscriptions
    • Loan repayments and store accounts
    • Gym, schools, security services, and municipal accounts
  3. Cards-on-file and in-app subscriptions
    • Streaming services, cloud storage, software licences
    • App stores, ride-hailing, delivery apps
    • Online retailers and wallets

Add billing dates, amounts, contact details, and the switch status for each item. This document becomes your control centre.

Step 6: Switch your salary and incoming payments

For employees:

  • Ask your new bank for a bank confirmation letter.
  • Give HR or Payroll a Salary Banking Details Update Letter (template below) with the new account details.
  • Confirm the cut-off date for changes before the next payroll run.

For self-employed or side-income:

  • Update your invoices and contracts with new banking details.
  • Notify retainers, clients, and platforms (e.g., marketplace payouts or gateways) of the change.
  • Update SARS eFiling profile and any grant or stipend portals, if applicable.

Salary Banking Details Update Letter (template)

Subject: Update of Salary Banking Details

Dear [HR/Payroll Manager],

Kindly update my salary payment details with immediate effect or from the next payroll run as indicated.

Employee name: [Your Full Name]
Employee number: [Your Employee Number]
New bank: [Bank Name]
Account holder: [Your Full Name]
Account type: [e.g., Cheque/Transact/Everyday]
Account number: [New Account Number]
Branch code: [Code]
Attached: Bank confirmation letter

Please confirm once updated and advise if any additional forms are required.

Kind regards,
[Your Name]
[Contact Number]

Step 7: Move debit orders the smart way (including DebiCheck)

Most major banks in South Africa offer a switching service that helps you move authorised debit orders to your new account. You can also contact each service provider directly. Keep in mind:

  • DebiCheck is the industry standard for authenticated debit orders. You will be asked to approve a new DebiCheck mandate in your banking app, at an ATM, via SMS, or through the channel your bank supports.
  • When your new bank initiates switching, they typically notify your debit order originators and assist with moving them over.
  • Some debit orders may still require you to contact the service provider to update details, especially older or non-standard mandates.
  • Allow at least 10 business days before a billing date where possible, to avoid a bounce.

Tip: If a debit order attempts on the old account during the transition, fund it or ask the provider to retry on the new account once the mandate has been updated. Avoid unpaid fees where possible.

Step 8: Update stop orders, scheduled payments, and beneficiaries

  • Stop orders are payments you scheduled from your old account. Recreate them in your new bank app and set the same execution dates.
  • Rebuild your beneficiary list and label it clearly.
  • For once-off or ad-hoc payees, migrate them as you pay them the first time from the new account.

Step 9: Move cards-on-file and in-app subscriptions

Update any platforms where your old card is stored:

  • Streaming services, cloud storage, software, antivirus
  • App stores (Google Play, Apple App Store), music, and gaming
  • Ride-hailing, delivery apps, parking, tolls, and fuel cards
  • Online retailers and wallets

If you have access to virtual cards in your new bank, consider issuing separate virtual cards per merchant category. It improves control and makes future changes easier.

Step 10: Run parallel for one billing cycle

For at least one full month:

  • Keep the old account funded just enough to cover any stragglers
  • Use alerts to catch unexpected activity
  • Confirm every expected debit and credit is now hitting the new account
  • Record any anomalies in your tracker and resolve them

This “overlap phase” is the cheapest insurance against late-payment penalties.

Step 11: Close your old account properly

Once you are confident the migration is complete:

  1. Settle any outstanding fees and ensure there is no negative balance.
  2. Cancel overdrafts or credit facilities linked to the account (some banks require a separate step).
  3. Request a closure letter or confirmation email for your records.
  4. Destroy the old cards and delete the account from wallets or auto-fills.
  5. Keep your final bank statement showing a zero balance and closure.

If you had linked services (rewards, travel wallets, multi-currency, or overdrafts), ensure each is formally terminated or moved.

Practical checklists you can copy

Documents and setup

  • ID and proof of address (FICA)
  • New bank account opened and app activated
  • Bank confirmation letter downloaded
  • Alerts and security options enabled
  • Beneficiaries imported or recreated

Income and inflows

  • Employer payroll updated
  • Client contracts and invoices updated
  • Platform or marketplace payouts updated
  • SARS and other public-sector portals updated (if applicable)

Outflows

  • Debit orders switched (via bank or directly)
  • DebiCheck mandates re-approved
  • Stop orders recreated
  • Scheduled transfers rebuilt (savings pockets, investments)
  • Cards-on-file updated (subscriptions and apps)

Finalise

  • Overlap complete for one billing cycle
  • No missed debits or credits
  • Old account closed, closure letter saved
  • Old cards destroyed and wallet entries removed

Templates for provider notifications

Debit order banking details change (email template)

Subject: Update of Debit Order Banking Details – [Policy/Account Number]

Dear [Provider Name],

Please update the debit order banking details for my account with immediate effect or before the next billing date.

Name: [Your Full Name]
ID number: [ID Number]
Account/policy number: [Number]
New bank: [Bank Name]
Account number: [New Account Number]
Account type: [Transact/Cheque]
Branch code: [Code]
Attached: Bank confirmation letter

Kindly confirm once updated and advise if any additional verification is required.

Kind regards,
[Your Name]
[Contact Number]

Client or payer banking details change (invoice footer)

Bank: [Bank Name] | Acc: [Number] | Type: [Account Type] | Branch: [Code]
Please update your records. New details apply from invoices dated [Date].

Understanding DebiCheck vs “old” debit orders

  • DebiCheck mandates are authenticated by you through your bank, which reduces unauthorised debits. When switching accounts, you will often need to approve a new mandate tied to the new account.
  • Old AEDO/NAEDO-style orders have been phased out in favour of DebiCheck, but you may still encounter providers who need manual forms or additional steps during switching.
  • Always approve requests only if you recognise the provider and amount. Decline unexpected or suspicious requests.

Fees and pitfalls to avoid

  • Unpaid debit fees: If a debit order hits the old account with insufficient funds, you can incur bounce fees. Keep a buffer until you are sure the mandate has moved.
  • Duplicate debits: During the changeover month, monitor for duplicates. Refunds are usually available if the provider debits both accounts in error.
  • Payment cut-offs: Salary changes may miss a payroll cut-off and only take effect the following month. Plan ahead.
  • Overdraft entanglements: If your old account has an overdraft, you may need to settle or transfer it before closure.
  • International services: Some foreign platforms are slow to update billing info. Update these manually and test with a small transaction.

Will switching affect my credit score?

Switching current accounts does not directly change your credit score, because credit bureaus mainly track credit facilities (loans, cards, store credit). However:

  • If you miss payments during the switch, those arrears can affect your profile.
  • If you close a long-standing credit card or overdraft linked to the old account, your credit history length may be affected. Weigh this carefully before closing any credit line.

Special cases

Joint accounts
Both account holders must consent to changes. If you are splitting finances, consider establishing two separate individual accounts first, then closing the joint account.

Student and youth accounts
FICA requirements are the same, but proof of address can be trickier. Ask your new bank about acceptable documents (e.g., residence letters, student housing confirmations).

Business accounts
Prepare company documents (CIPC registration, founding documents, resolution to open an account, tax numbers) and be ready to update suppliers, customers, payroll, and payment gateways. Expect more involved onboarding and switching.

Home loans and vehicle finance
If bond or finance repayments are debited from the old account, sequence these changes carefully. Confirm new DebiCheck mandates well before the debit date to avoid arrears.

Security best practices during switching

  • Share banking details only with verified employers and providers.
  • Beware of phishing emails asking you to “re-confirm” data. Go directly to official portals or apps.
  • Use your bank’s card and account controls to block suspicious activity.
  • Approve DebiCheck requests only for providers you recognise.

Frequently Asked Questions (FAQ)

How long does switching take?
Most people complete the changeover in two to six weeks, including one full billing cycle of overlap. Salary changes depend on payroll cut-offs. Some debit orders move in a few days; others take a full cycle.

Can my new bank move all debit orders for me?
Yes, most banks offer a switching service that notifies providers and assists with the process. However, you may still need to contact some providers and approve DebiCheck mandates manually.

What if a debit order is unauthorised or keeps coming off the old account?
Dispute it with your bank and the provider. Under the DebiCheck framework, authenticated mandates are required. Your bank can often stop future debits while you resolve the dispute.

Must I keep the old account open?
It is wise to keep it open for one billing cycle after your first salary lands in the new account. Once you are certain all items have migrated, close it formally and obtain a closure letter.

Do I have to change my card numbers everywhere?
Yes, for any service that stores your card-on-file. Consider using virtual cards per merchant category to make future updates easier.

A simple switching plan you can follow this month

Day 1–3: Open new account, activate app, set alerts, get bank confirmation letter.
Day 4–7: Notify employer or clients, initiate debit order switching, recreate stop orders.
Day 8–21: Approve DebiCheck requests, update cards-on-file, watch the first salary and debit runs.
Day 22–35: Resolve any stragglers, verify all items have moved, request closure of old account.
Day 36: File your closure letter and final statements. You are done.

Final thoughts

Switching bank accounts is a project, not a panic. When you treat it like a project—with a checklist, a tracker, and a single billing cycle of overlap—you dramatically reduce the risk of missed payments and fees. Use your new bank’s debit order switching service, approve DebiCheck mandates promptly, and keep both accounts open until you have verified that everything has moved. Once you close the old account with a formal letter, you can fully enjoy the features and value that motivated your switch in the first place.

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