Standard Bank Account
Before opening a bank account, it’s important to understand the different types of accounts available so you can choose one with benefits and services that match your daily needs.
Current accounts
- Get easy access to your money for day-to-day expenses
- You get different types of cards depending on your income bracket. For example, gold card, titanium card, black card, etc
Savings accounts
- Keep your savings separate from your everyday bank account with a savings account
- Earn interest on the amount you save every month
Fixed / Deposit accounts
- A savings account that you can only access when giving a certain amount of days’ notice
- Earn more interest the longer you save
Business accounts
- A bank account for your business’s daily banking
Resident and Non-Resident accounts
- Transactional accounts for temporary residents or people who want to bank in South Africa but live in another country
How to choose the right account:
- Ask yourself if you want to use this account to save money over time or if you’ll be using the account for day-to-day transactions
- Shop around and look at a variety of products at a variety of banks. Check out the benefits that will work for you
- Keep in mind that you don’t need a regular income to have a bank account