The Financial Action Task Force (FATF) has granted an extension allowing processing of payments from South Africa to Eswatini, Lesotho and Namibia (CMA countries) until mid-September.
A reminder of how this will impact your payments after the September deadline:
- You will no longer be able to add bank details for recipients with bank accounts in CMA countries to employee or creditor lists.
- Existing CMA recipients in batches will have to be removed before authorising payments.
- Payments uploaded containing CMA recipients will be rejected on load.
We recommend that you contact your bank directly for assistance with alternative options for cross-border payments.