Does deposit to Tshwane earn interest?

Quixotic said:
I have just been refunded a deposit of R630 paid in 2005 to Tshwane as I have now gone over to metered but no interest was included. Is this correct?
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I doubt interest would be paid.
My late father-in-laws account with CoJ was just wrapped up and the deposit refund was only the initial deposit paid some 25-odd years ago, no interest.
 
By law all deposits must generate interest. Tshwane therefor has to pay interest. Just remember the In duplum rule which says that the total amount of interest may not exceed the original debt (or deposit in this case).

You can try to force the municipality to pay the interest but my experience is that 90 % of the officials working for Tshwane is illiterate and the other 10% are too lazy to read. Your e-mails will be ignored and if you personally visit their offices you will be met with the blank stares of officials who have no idea what you are talking about and who are not interested in your problems..
 
Stonemason said:
By law all deposits must generate interest.
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What law would that be? I know rental deposit interest is covered specifically by the Rental Housing Act of 1999 but what act covers municipal accounts especially when they all seem to be operating under municipal bylaws.

For example Joburg

7. Interest

The City will not pay any interest on deposits. All deposits paid shall not be regarded as being in payment of account due to the City, as such will be held by the City as its security until the account is closed (service terminated) and fully settled.
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bwana said:
What law would that be? I know rental deposit interest is covered specifically by the Rental Housing Act of 1999 but what act covers municipal accounts especially when they all seem to be operating under municipal bylaws.

For example Joburg


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Common law based on numerous court rulings in the past. This is true unless the deposit taker has a contract with you stating that they will not pay interest. Your current account at the bank works that way and COJ has passed a by-law to that effect, Tshwane does not have such a by-law. As recently as 3 years ago Tshwane paid me interest on a deposit for a municipal account.
 
We've been paying to my late father in laws account with Tswane and it has been building a credit, currently over R24000. Our new account is showing outstanding of R28000. This is the R24000 we paid on the other account + accrued interest.

We only found out that the account was moved to our name a month ago with an email with the details for making payments.

Now the issue is getting the money transferred from the old account to the new account.
 
Stonemason said:
Common law based on numerous court rulings in the past. This is true unless the deposit taker has a contract with you stating that they will not pay interest. Your current account at the bank works that way and COJ has passed a by-law to that effect, Tshwane does not have such a by-law. As recently as 3 years ago Tshwane paid me interest on a deposit for a municipal account.
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Now you will have to give the OP at step by step guide of how you achieved that.
 
supersunbird said:
Now you will have to give the OP at step by step guide of how you achieved that.
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I got my councilor onto the job :). I have a number of properties in Pretoria and my councilor is on the ball.

zerocool2009 said:
Tswhane resident for very-very long. Interest isnt earned on council deposits
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It could not have been than long. Tshwane only came into existence in 1996. I paid my first deposit to the then Pretoria City Council in 1976. Somewhere around 2007 they moved to a new accounting system and they took the R60 deposit I paid in !976 and doubled it (in accordance with the In Duplum rule) on the new account.

Three years ago I sold a property which I acquired in 2010 and they paid interest on the deposit. I waited for almost a year, but they did pay it back.
 
Stonemason said:
You can try to force the municipality to pay the interest but my experience is that 90 % of the officials working for Tshwane is illiterate and the other 10% are too lazy to read. Your e-mails will be ignored and if you personally visit their offices you will be met with the blank stares of officials who have no idea what you are talking about and who are not interested in your problems..
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Well, I decided to call and spoke to their Accounts. The blanket response was that no interest is paid on deposits. Quering this further I was just met with the same repeated response. So just as you said
 
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