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Youth Banking

 

MegaU

Take control of your money with MegaU Debit Card Account, designed for under 19 year old people. Enjoy a zero monthly service fee with a range of banking transactions offered for free and get access to value-added services just by using your account.

Qualifying Criteria

You must not be older than 19 years. If you are under 16, you must get permission from your parent or guardian to open the account.

Documents required
Over the age of 16

  • South African bar-coded identity document (ID) or valid passport.
  • An original document verifying your residential address, not more than three months old, e.g. utility bill, lease or rent agreement, Telkom statement, etc.

Minor under the age of 16

  • Original birth certificate or valid passport.
  • The original document or a certified copy of one of the following documents verifying your residential address. The document must not be more than three months old, e.g. utility bill, lease or rent agreement, Telkom statement, etc.
  • Parental consent is required to open and operate the account if you are a minor under 16
  • Your parent’s or guardians’ original bar-coded ID.
Benefits
  • Use your Mega U account anywhere, anytime to do just about anything;

    • No monthly fee
    • Free cash withdrawals at Absa ATMs
    • Top up airtime / data pre-paid for free at point-of-sale, Absa ATMs, cellphone banking, internet banking, telephone banking IVR
    • Free debit card purchases
    • Free SMS and email notifications
    • Free Absa ATM balance enquiries
    • Free internal debit orders and stop orders.
    • Free e-Statements
    • Free transactional history enquiry – Internet, Cellphone, telephone (IVR).
    • Earn interest

Note: All other transactions not included in the above list will be charged at the standard Pay-as-you-transact fee. Please refer to the pricing brochure for detailed product pricing.

PLUS, you also enjoy these additional benefits by using your account for:

  • Free 75 MB data per month from all networks
  • 1 free movie ticket per month.

To access these benefits, simply keep a positive balance of R200 a month OR do at least 2 transactions a month, i.e. debit card purchases or buy data/airtime directly from your account.

You may also be interested in FuturePlan and TargetSave.


Tired of everyone always telling you what you can or cannot do? If you are 19 and younger than this account is a great way to take control of your money. It gives you the financial freedom to decide how, when and where you want to spend or save your money.

You can even grow your money by getting paid interest on the cash that’s in your account. Plus, you get to choose your debit card from two funky designs.

Stop messing around with small change and get money-wise by arranging for your parents, friends, bosses and family members to put money directly into your MegaU account by using Internet, Telephone or Cellphone Banking or even the Cash Send option, you and they will never have to use cash or go to a branch again.

apply-now

Not for you? Check out FuturePlan.


Did you know?
If you register for NotifyMe, you receive notifications and are informed via SMS or e-mail when transactions take place on your accounts.
 


How can you transact?
  • Avoid carrying cash, pay for your purchases by swiping your debit card at shops.
  • For your convenience buy your airtime and data through cellphone / internet banking / points of sale/ telephone banking/ATMs;
    • Follow these easy steps to buy prepaid airtime through cellphone banking lite: Dial *120*2272# to login; select ‘Prepaid Airtime’ from the menu and
    • follow the prompts;
    • Telephone banking: Dial 08600 08600;
    • You can also buy your airtime and data at point of sale or through our ATMs.
  • Use Absa ATMs, their fees are more cost-effective than Saswitch fees.
  • Keep your card and your Personal Identification Number (PIN) in a safe place.
  • Remember your PIN and never write it down.
  • Cancel your lost or stolen card IMMEDIATELY by contacting 0800 1111 55.


Contact MegaU
What it Costs
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