This will make these notes unusable, which should discourage robbery and theft. Major progress was also made with the reduction of settlement risk in the payment system when agreements were concluded with the payment clearing houses. After intensive consultation with the banking industry, same-day settlement now generally takes place.
Real Time Line settlement is effected directly via the SAMOS system and batch settlements forwarded from Bankserv are settled before the following day. Only interbank borrowing and lending, and the final square-off between banks, are done the next day. These changes have aligned South African payment practices to the principles of internationally accepted payment systems.