ABSA Bank Youth Account

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