How do I add or change banking details?
- In person at any SARS branch if you’re not registered on eFiling, or
- By completing the Registration, Amendment and Verification form (RAV01) on eFiling (excluding Customs and Excise)
- When completing the following on eFiling:
Please note: Customs and Excise clients’ needs to visit their nearest SARS Customs branch as registering or changing of banking details can’t be done on eFiling. A completed DA185 – Application form: Registration/Licensing of Customs and Excise and applicable supporting documents must be submitted at a branch.
- Confirmation that the person(s) asking for the changes is authorised to do so.
- Authentication of the relevant supporting documents needed for adding or changing banking details in order to reduce fraud.
Who can change banking details?
- The TPPOA form (Special Power of Attorney by Practitioners) hasn’t been updated yet to remove the exclusion of change of banking details. SARS will accept the form until this is updated.
- The “Authority on Special Power of Attorney by Tax Practitioner” to the staff member is NOT acceptable for updating bank details.
What is a valid bank account?
- A cheque, savings or transmission account
- In the name of the taxpayer(s)
- Not a credit card, bond or foreign bank account.
Spouse Accounts (Shared Accounts)
What is needed to add or change banking details?
- The original and a copy of an Identity document (ID)/temporary ID/passport/driving licence/asylum seekers permit of the:
- Account holder(s)
- Registered Representative and/or the Registered Tax Practitioner.
- A signed Power of Attorney (POA), where applicable.
- One of the following documents must be provided:
Top Tip: An original bank stamp is no longer needed on the bank statement, unless no statement date is shown.
- An original recent bank statement not more than three months old
- An original letter, on a letterhead, from the bank where a new bank account was opened and a statement can’t be provided. The date the bank account was opened must be included
- An eStamped statement will be accepted not more than three months old
- Internet statement
- A statement drawn at an ATM/Internet will be accepted as long as it contains the same information, as if the statement was drawn at the bank.
- Clearly showing the account:
- Holder legal name(s)
- Branch code and
- Statement date.
- The three months validity period of the bank statement will be checked against the statement date.
- The bank statement will be accepted even if the initials on the bank statement don’t match the initials on the ID (for example the bank statement reflects ‘SN Smith’ and the ID reflects ‘SNM Smith’).
- If a taxpayer has opened a new bank account (less than a month old) and cannot produce a bank statement, they will need an original letter from the bank on the bank letterhead with the original bank stamp confirming the account holder’s legal name, account number, account type, branch code and reflecting the date the bank account was opened.
- Copy of proof of residential or business address of the account holder and the Registered Representative or the Tax Practitioner.