Johannesburg - The Pan Africanist Congress is struggling to campaign for the elections because its funds have been frozen, the The Sunday Times reported.
PAC president Alton Mpheti accused FNB of freezing the party's accounts last month without consulting it.
"We have people contributing to our account, but now we can't access the account," Mpheti told the newspaper.
"We can't pay our staff, we can't do the day-to-day of the organisation... and we can't use the money to campaign." The party's parliamentary, Electoral Commission of SA, and investment accounts were frozen.
Mpheti could not indicate how much money was in them. He told the Sunday Times the party planned to open new accounts with another bank.
FNB spokesperson Danny Zandamela told the newspaper that the PAC's internal squabbles were behind the decision.
The bank had received conflicting instructions from different PAC factions, Zandamela said.
The accounts would remain suspended until an undisputed resolution was provided to FNB.
The party has been rocked by internal squabbles since the removal of party president Letlapa Mphahlele in May last year.
Both Mphahlele and Mpheti claimed to be legitimate leaders of the party. Mpheti's faction is recognised and registered with the IEC.