Nationwide payout process begins 8 December as FNB extends support to affected customers
Article: Lonwabo Mtyeku –Community Newsroom Photo Credit: Supplied
2 December 2025 — After nearly a year of uncertainty and financial strain for thousands of Ithala SOC Limited depositors, relief is finally in sight. National Treasury has formally appointed FNB to facilitate the secure payout of funds to affected Ithala customers, with the process scheduled to begin on 8 December 2025 across FNB’s national branch network.
The appointment positions FNB as the central driver of one of South Africa’s largest customer reimbursement programmes of the year, following Ithala’s inability to grant customers access to deposits since January.
How the Payout Process Will Work
Ithala depositors will receive an SMS directing them to their nearest FNB branch, where they will undergo a verification and instruction process designed to ensure security, compliance, and efficient disbursement of funds.
To complete the process, customers will be required to bring:
- A valid South African ID
- Proof of residence
- A bank account confirmation letter (if not banking with FNB)
At the branch, customers will:
- Be verified as legitimate Ithala account holders
- Complete a payment instruction form
- Sign a deed of cession confirming full and final settlement once the funds are received
Payments will only be processed once all compliance requirements are cleared — a step that may take up to two days.
Customer Support and Extended Branch Hours
FNB has committed to managing the process in a way that reduces queues and long waiting times. Customers will receive SMS notifications with their designated payout dates, enabling a staggered and orderly flow.
Given that the majority of Ithala customers are located in KwaZulu-Natal, FNB has extended operating hours in the province’s branches. From 8 to 31 December 2025, KZN branches will operate from 07:30 to 17:00.
Customers may choose how they want to receive their payouts:
- Transfer into any bank account where they are the primary account holder
- eWallet for instant access
- Opening a new FNB account, assisted on-site if preferred
FNB Affirms Its Commitment to Financial Inclusion
Jacqui O’Sullivan, FNB’s Executive for Corporate Affairs, emphasised the bank’s commitment to supporting the affected communities:
“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.”
She added:
“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.”
Customer Assistance and Contact Information
Customers seeking more information or assistance in locating their nearest FNB branch can contact the FNB support line on 087 575 3279.
Issued by: FNB Corporate Affairs
