All you need to know about the closure of the Sanlam Money Saver credit card

Published on 12th August, 2025 at 03:30 pm

Frequently Asked Questions

Why is the Sanlam Money Saver credit card being discontinued?

After careful consideration, Sanlam and RCS have jointly decided to close the Sanlam Money Saver credit card. This forms part of Sanlam’s ongoing commitment to refine our product offering and stay aligned with the changing needs of the credit market.

How does this impact me?

After 30 September 2025, you’ll no longer be able to use your Sanlam Money Saver credit card for purchases or cash withdrawals. This includes any secondary cards.

Will I still be charged monthly card fees after the card is closed?

From October 2025, you will no longer be charged a monthly service fee, your final fee will be charged on your September 2025 statement.
All other fees and interest associated with your Sanlam Money Saver credit card will continue to be billed to your account, for which you remain liable to pay.

Do I need to settle my outstanding balance immediately after 30 September?

Not at all — unless you prefer to. You can continue repaying your outstanding balance as per your current repayments (via debit order or EFT) until your outstanding balance is paid in full. You can also choose to settle your full outstanding balance immediately.

What happens to the Customer Protection Insurance on my card?

Your Customer Protection Insurance policy will remain in place, and you will continue to be billed for this insurance until your full outstanding balance has been paid.

Where can I make EFT payments to settle my balance or do monthly payments?

You can pay into the following account:
Bank: African Bank Business
Account Type: Cheque Account
Branch Code: 584000
Bank Account Number: Account number on your statement
Reference: Account number on your statement

What happens to my Wealth Bonus?

You will continue earning Wealth Bonus® rewards until 30 September 2025.

• • Final Wealth Bonus payouts will take place in Q4 2025 — either into your nominated bank account or your Sanlam Money Saver credit card, depending on the original selection.
  • If you have a positive credit balance, you will be contacted by RCS to arrange a refund.
  • If you have an outstanding balance after your Wealth Bonus has been paid, you will continue to receive monthly statements and must continue to make payments until your outstanding balance has been paid in full.

What happens to my secondary cards?

All secondary Sanlam Money Saver credit cards will also be unable to make any purchases or cash withdrawals after 30 September 2025.

Can I still replace a lost/stolen card or renew an expiring card?

Yes, card replacements and renewals will be available until 1 September 2025. After this date, no further card replacements will be issued.

What happens to my transaction history?

The transaction history on your Sanlam Money Saver credit card will remain on our system for as long as legally required.

What should I do if I have a query or dispute?

You will have 90 days from 1 October 2025 to contact us 0861 444 352 regarding any transaction queries on your Sanlam Money Saver credit card.