Sanlam Login with ID Number One Withdrawal

You can log in to your Sanlam account using your ID number, but for full access and to perform a withdrawal, you will need to complete the Sanlam Secure Services registration to get a username and password.

Step 1: Log in with your ID Number

Sanlam’s various portals, including the Sanlam Reality and Sanlam Credit Solutions websites, allow a “basic login” with your ID number. This gives you limited access to your information. For a full, secure login, you need to register for a username and password.

Step 2: Register for Sanlam Secure Services

If you have not already, you must register for Sanlam Secure Services. This creates the secure credentials you need to manage your portfolio and transact. You can start this process from the Sanlam login page by looking for a “Register” or “Don’t have an account?” option.

Step 3: Initiate a One-Time Withdrawal

The process for a one-time withdrawal depends on the specific product you have (e.g., retirement fund, unit trust, tax-free investment).

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General Process for a One-Time Withdrawal:

1. Log in to your account.

   • Use your registered username and password to log in to the Sanlam Secure Services portal or the Sanlam app.

2. Navigate to the relevant section.

   • Find the portfolio or fund you want to withdraw from. Look for a “Withdraw” or “Disinvest” option.

3. Complete the withdrawal request form.

   • You will be required to fill in a form with details such as the withdrawal amount, the reason for the withdrawal, and your banking information.

4. Submit required documents.

   • Sanlam may require certified copies of your ID and a recent bank statement (not older than 3 months) to process the withdrawal.

5. Wait for processing.

   • After you submit the request, Sanlam will process it. This can take several business days, as they may need to request a tax directive from SARS before the funds can be paid out.

Important Notes:

• Taxation:

  • Withdrawals from many types of funds, such as retirement annuities, are subject to tax. The tax will be deducted from your payout before you receive it.

• Transaction Limits:

  • Some products have specific rules, such as a minimum balance you must maintain or limits on how many withdrawals you can make per year. For example, under the new two-pot system in South Africa, you can make a withdrawal from your Emergency Savings Pot once per tax year.