ABSA Bank Youth Account
With zero monthly fees and loads of monthly value-adds, MegaU is the ideal bank account for under 19s. Want to take it to the next level? Become moneywise by downloading our feature-packed MegaU App.
What you can expect
Better everyday banking
- No monthly fee
- Free cash withdrawals at Absa ATMs
- First R500 cash deposited at an Absa ATM or Cash Acceptor is free
- Free debit card purchases
- Free prepaid top-ups at Absa channels
- Free Absa ATM balance enquiries
- Free internal debit orders and stop orders
- Free account activity notification via SMS or email
- Free eStatements
- Access and manage your money whenever you want to
- 24/7 access to the largest ATM network in South Africa
- International transactions can be performed (at a cost) and Absa will impose an offshore transactional limit equal to the pre-determined value per calendar year for clients under the age of 18, as prescribed by the SARB.
Please note that some transactions will be charged at the standard pay-as-you-transact fee. For more information, you can refer to the pricing brochure or visit your nearest branch.
Free value-adds
- 100MB of data
- Food voucher to be redeemed at McDonald’s, Debonairs, Steers (online) or Nando’s
- First lesson per month free for a Kidz activity, those things kids love to do (Aquatots, MiniChess, Young Engineers and more)
How to qualify for monthly value-adds
- Maintain a minimum balance of R300 per calendar month
- Or perform at least four banking transactions per month of which two must be prepaid transactions
How to redeem value-adds
- Visit the MegaU benefits page or
- Dial *120*733# and follow the prompts
What you need to open your account
Requirements for ages 16 – 19
- Your valid, bar-coded South African identity document or valid passport
- Proof of residence not older than three months (e.g. utility bill or cell phone statement)
Requirements for minors under the age of 16
- Original birth certificate or valid passport
- Parent or guardian’s proof of residence not older than three months (e.g. utility bill or cell phone statement)
- Parental consent is required to open and operate the account
- Parent or guardian’s original bar-coded ID
Break free with our Absa MegaU App
Enjoy the freedom of handling your own money. With our free MegaU app you can:
- Check balances and keep track of what you spend, 24/7
- Earn cash from your folks by doing MegaU ‘chores’
- Earn cool monthly rewards
Download the app now and get your passport to financial freedom:
The app is available on Appstore and Google play store