COVID-19: TERS- Funding Applications- Bank Account Confirmation Required

… navigating through the COVID-19 LOCKDOWN scandal …

TERS-FUNDING APPLICATIONS

BANK ACCOUNT CONFIRMATION

Dear employer

We previously communicated that, due to security concerns, the TERS online portal now requires employers to confirm their banking details by virtue of their CIPC registration number or ID number linked to the nominated bank account.

A concern at the time was that the system did not provide for verification of bank accounts by business entities not registered with CIPC, for example a trust or an association.

The system still has not been updated to accommodate these entities but we have been advised that these types of employers should select “no” when asked whether it is registered with CIPC and then proceed to enter the ID number of one of the signatories to the bank account. 

We will keep members abreast of developments in this regard.

NEASA 24/7 NATIONAL HOTLINE: 086 016 3272

legalhotline@neasa.co.za

(please have your membership number at hand)

For more information:
NEASA Media Department
media@neasa.co.za

We are all in this together.

Privileged and challenged to be South African.