South Africa: Change of cash correspondent bank for South African Rand (ZAR) - reminder
Clearstream Banking1 is pleased to inform its customers of a change of cash correspondent bank in South Africa.
Effective value date
23 November 2020
Standard Chartered Bank, Johannesburg will be appointed as cash correspondent bank (CCB) for South African Rand (ZAR). From this date, customers will no longer be able to use Standard Bank of South Africa Limited, Johannesburg (SBSA) as a CCB for ZAR payments.
Impact on customers
From 23 November 2020, customers are advised to make ZAR payments into Clearstream Banking via Standard Chartered Bank, Johannesburg instead of SBSA as follows:
South Africa Rand (ZAR)
Standard Chartered Bank, Johannesburg
051 013288 00
Cash instruction deadlines
As a result of this new appointment, the deadlines for customer cash instructions in ZAR will be improved as follows:
for Value Date (VD) = Settlement Date (SD)
26 October 2020 - 26 March 2021
29 March 2021 - 29 October 2021
Note: All times are Central European Time (CET).
Clearstream Banking’s cash correspondent details relating to the ZAR will be updated in the relevant documentation on the effective date of this change.
For further information, customers may contact Clearstream Banking Client Services or their Relationship Officer.
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG customers using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.