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Covid-19: Banks and TERS funds

Covid-19: Banks and TERS funds

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
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