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Transaction and monthly spending limits applied

CHIPS enforces all regulatory requirements, including regulations to fight crime and terrorist funding (FICA compliance). 

In line with international practices, the South African government introduced legislation (FICA) aimed at preventing money laundering, the use of the proceeds of crime and preventing the funding of terrorist activities.  In order for its users to comply with the FICA regulations, CHIPS has created a FICA registration process that enables its users to capture the information necessary to meet the FICA requirements with as little inconvenience as possible.

The FICA level attained by a CHIPS user determines the maximum amount that the individual can transfer out of CHIPS, by either buying goods and services, or for sending money to others.  The level of FICA compliance a user can attain is dependent on the electronically verifiable documentation that he can provide.

Please refer to our Compliance page for more details.

About Trustlink

Trustlink (Pty) Ltd is a South African company, established in 2002. Since its inception, Trustlink is a trusted payment and solution provider to banks, other financial institutions and blue chip corporates in Sub Saharan Africa.  Trustlink is also the SWIFT business partner in the region. Trustlink now offers CHIPS, as a service, under license, to the South African consumers, business and other organisations, as well as government.

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