ABSA Bank Account

ABSA Bank Account

Below are some bank accounts and procedures on how to open an account. Call the number below or email us for more information.


  • Everyday banking accounts
Transact Account

Minimum income:
R0

Monthly fee:
R4.99 pm

  • Your income must be less than R3 000 pm
  • Free point-of-sale (POS) purchases
  • Free monthly subscription for online, mobile and telephone banking
Flexi Account

Minimum income:
R3 000 pm

Monthly fee:
R25.22 pm

  • Access to ATM Instant Loans
  • R15 000 funeral cover included
  • Free monthly subscription for online, mobile and telephone banking
Flexi Value Bundle

Minimum income:
R3 000 pm

Mothly fee:
R59.52 pm

  • Funeral cover of R15 000 included
  • Free monthly subscription for online, mobile and telephone banking
  • Free eStatements

Youth and student accounts

MegaU

Minimum income:
N/A

Monthly fee:
None

  • For under 19s
  • Discount at selected food outlets
  • Monthly discount to selected Kidz activities
Islamic Youth

Minimum income:
N/A

Monthly fee:
None

  • Most banking transactions are free of charge
  •  Get 100MB of free data every month
  • Monthly discount on selected Kidz activities
Student Silver

Minimum income:
N/A

Monthly fee:
R24.21 pm

  • Get 100MB of free data every month
  • Discount at selected food outlets 
  • Up to 30% off on a gym membership at selected gyms
Gold Graduate

Minimum income:
N/A

Monthly fee:
R52.96 pm

  • Helping you transition from being a student to earning a salary
  • Access to credit before your first salary
  • Financial advice to help you get a good start

Account for seniors

Prosperity for seniors

Minimum income:
R2 000 pm

Monthly fee:
R45.39 pm

  • Exclusive priority banking at selected branches
  • Free financial needs analysis
  • Monthly fee concession

Accounts with lifestyle benefits

Flexi Value Bundle

Minimum income:
R3 000 pm

Mothly fee:
R59.52 pm

  • Funeral cover to the value of R15 000 included
  • Free monthly subscription for online, mobile and telephone banking
  • Free eStatements
Gold Value Bundle

Minimum income:
R10 000 pm

Monthly fee:
R105.92

  • Lifestyle benefits with Absa Dining
  • R20 000 lump sum death benefit included
  • Unbeatable overdraft interest rate
Premium Banking

Minimum income:
R25 000 pm

Monthly fee:
R170.48 pm

  • Exclusive priority banking at selected branches
  • Free financial needs analysis
  • Eight free Take-me-Home trips
Private Banking

Minimum income:
R62 500 pm

Monthly fee:
R423.68 pm

  • Access to a dedicated private banker
  • A host of lifestyle benefits available
  • Access to international banking options

How to Open an Absa account

Choose your account

  • Premium Banking: Get a better perspective with our Premium Banking cheque account and enjoy added convenience through our Premium service. Minimum income: R25 000
  • Gold Value Bundle: Enjoy great value for money that reflects your earnings status. Minimum income: R10 000
  • Flexi Value Bundle: Bank for a market leading low monthly fee and get a host of free transactions and value added services. Minimum income: R3 000

Switch my debit orders and salary

Once you have opened an account with us, you can switch your debit orders and your salary. All you need to do is:

Complete your online Debit Order and Salary Switching Request here.

OR

Complete this Debit Order and Salary Switching Request and email it to switching@absa.co.za or fax it to 086 753 3537.

It’s that simple!

Switch now

Once we receive your request, we will keep you updated of the progress. The next steps are:

  1. You will receive an SMS or email (based on your preferences) to let you know that we have received your request.
  2. We submit your request to each service provider and follow up with them until everything is switched. Here are companies that will not allow Absa to switch on your behalf; you can contact them to process your request.
  3. There are some service providers that need more information to switch – so within 48 hours we will send you an update on the status of this, and the next steps to follow to help you complete the switching process.
  4. Within 2 weeks after submitting your request you will receive confirmation of the deduction date for all successfully switched debit orders.
  5. If there are still any outstanding debit orders not switched, within 4 weeks, we will send you confirmation of the deduction date for all successfully switched debit orders.
  6. If there are any outstanding debit orders not switched within 6 weeks, we will contact you with an update and the next steps to be taken; but please don’t close your old account until all your debit orders and salary have been switched to ensure that your payments at these providers are always up to date.

If you facing any difficulties on any of the above procedures provided, call us on: 0860 100 372     OR


Email us at: switchingqueries@absa.co.za