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24/7 National Hotline: 0860 163 272 | Email:

COVID-19: Banks and TERS Funds

May 1, 2020




Dear employer

We have received, on more than one occasion, complaints from members that their respective banks have, either under the classification of bank charges, or debiting of overdraft accounts, utilised the TERS funds received from the UIF.

This is in direct contravention of the lockdown regulations and directives and therefore illegal.

If this is indeed happening and banks are unlawfully applying the TERS funds from the UIF for any other reason than the intended use of paying employees, we would like to know which banks are guilty of this practise, in order to address the issue urgently.

Please click here to inform us of any such unlawful practices.

NEASA 24/7 NATIONAL HOTLINE: 086 016 3272


Kind regards




We are all in this together.
Privileged and challenged to be South African.


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