The content on this page is not written by Polity.org.za, but is supplied by third parties. This content does not constitute news reporting by Polity.org.za.

Postbank came back on line yesterday after five days of failed service to its customers, most of whom had no other means to access cash and were unable to use their bankcards to process transactions at retail outlets. Postbanks from Aberdeen to Zwelitsha have been affected, with hundreds turned away from the Durban branch on Friday.

During last week’s Postbank’s systems failure, ‘banking as usual’ messages were displayed on the entity’s website. There was no notice that the system was having a problem, let alone an apology to customers for the inconvenience.

Coming so soon after the R42 million bank heist on New Year’s day, allegedly inspired and perpetrated by Postbank insiders, this unexplained systems failure massively dents public confidence in the ability of the entity to safeguard the money of South Africans.

It also gives credence to our assertion when the laws enabling this state-run banking venture were debated in the National Assembly last year that government was ill equipped to compete with private sector financial services.

I will write today to the chairperson of the portfolio committee of communications, requesting that the Minister and relevant officials come before it to explain what is being done to rectify its security breaches and system failures.

To prevent massive inconvenience to customers, steps must be taken to ensure that back-up systems are available during systems failures. Apologies to customers and updates on repair status must be well-communicated.

Given that perceptions of corruption in government are at an all-time high, Minister of Communications Dina Pule must immediately assure Postbank customers that there is nothing suspicious about the recent systems failure. The Minister needs to explain what the problem was and what steps are being taken to ensure that the money of poorer South Africans is in safe hands and easily accessible to them.

Postbank must accept that it is easy to lose the trust of customers through unreliable services and exceptionally difficult and time-consuming to regain that trust.