Absa | Get the bank account that suit your banking needs

We have kept our fees as low as possible. Absa’s new pricing is specifically aimed at alleviating pressure and insulating people from further financial strain during these uncertain times. Notably, youth and students will bank free, and there will be no increases to monthly fees for all Absa’s core offers, including Absa Transact, Gold Value Bundle, Premium Banking and Private Banking, while still offering retrenchment, disability and death benefits. These pricing changes are designed to suit specific customer transactional behavior, making it cheaper for customers to bank with us.

Free Banking for Students

Absa Student Cheque Accounts will carry zero monthly fees. Furthermore, all day-to-day banking transactions are free, including prepaid airtime and data top-up fees.

No Increases in Monthly Fees

No increase in monthly fees on Transact, Flexi Account, Gold, Premium and Private Bank packages, with a 50% discount for spouse accounts for Gold, Premium and Private Bank offers.

Lower Digital Payment Fees

Based on customer feedback, immediate inter-bank payment fees (real-time payment fees) will also be reduced to R10 for low value payments.

Free Accidental Cover for 12 months

Apply for a free accidental death policy from Absa Life valid for 12 months. Simply log onto the App and apply for your cover under the Explore tab. Limited to the first 200 000 customers. Terms and Conditions.

Lowest banking fees in South Africa*

We've heard you South Africa, from 1 March, we introduce our new fees for our Everyday banking accounts, providing R500 million in pricing relief to our valued customers.

View our rates and fees

*Absa Gold Value Bundle and Transact Account proven to be the most inexpensive accounts in their categories according to the 2021 Solidarity Report

View all our accounts

Transact Account

Recommended income:
R0

Monthly fee:
R4.90 pm

Your income must be less than R3 000 pm
Unlimited point-of-sale (POS) purchases
Unlimited Absa ATM or POS balance enquiries

Apply now

Tell me more

Flexi Account

Recommended income:
R3 000 pm

Monthly fee:
R29.00 pm

Access to ATM Instant Loans
R15 000 lump sum death benefit included

Apply now

Tell me more

Gold Value Bundle

Recommended income:
R4 000 pm

Monthly fee:
R109.00

Retrenchment Cover of R5 000
Disability Cover of R5 000
R20 000 lump sum death benefit

Apply now

Tell me more

Premium Banking

Recommended income:
R25 000 pm

Monthly fee:
R190.00 pm

Retrenchment Cover of R10 000
Disability Cover of R10 000
R25 000 lump sum death benefit

Apply now

Tell me more

Private Banking

Minimum income:
R62 500 pm

Monthly fee:
R460.00 pm

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

Apply now

Tell me more

Student Account

Recommended income:
N/A

Monthly fee:
Zero monthly fee

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

Apply now

Tell me more

MegaU

Recommended income:
N/A

Monthly fee:
None

For under 20s
Discount at selected food outlets
Monthly discount to selected Kidz activities

Apply now

Tell me more

Islamic Youth

Recommended income:
N/A

Monthly fee:
None

For under 20s
Get 100MB free data every month
Monthly discount on selected Kidz activities

Apply now

Tell me more

Prosperity for seniors

Recommended income:
R2 000 pm

Monthly fee:
R50.00 pm

Exclusive priority banking at selected branches
For customers 55 years and older
Monthly fee concession

Call me back

Tell me more

Switching to Absa couldn’t be easier. Simply choose the bank account that suites your lifestyle, fill in the online application form and switch to Absa.

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 earning status. Minimum income: R4 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 on the progress. The next steps are:

You will receive an SMS or email (based on your preferences) to let you know that we have received your request.

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.

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.

Within 2 weeks after submitting your request you will receive confirmation of the deduction date for all successfully switched debit orders.

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.

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.
Need more support? Talk to us

Call us on:

0860 100 372

Email us at:

switchingqueries@absa.co.za
Switching FAQs
How long does it take to complete the switching form?

The online form takes a few minutes to fill in. Once you have completed the switching request, submit the form and we'll take care of the rest

Email us on: switchingqueries@absa.co.za

How can I track my switching request?

You can track your request through this link or by calling 0860 100 372.

What is important to remember when completing the form?

There are two options available:

Salary switch, which requires you to fill in your employer’s information

Debit order switch, which requires you to complete a list of your current debit orders

Complete all your personal details and don’t forget to provide us with your contact details

Don’t forget to add your Absa account details and the details of your previous bank account

When filling in the details of your debit orders, make sure that all reference numbers are filled in accurately, otherwise we will not be able to find your debit order

How long does it take for the switch to be completed?

Switching will take up to 6 weeks to complete, depending on the service providers you have debit orders with. We will however keep you updated on the progress

Does switching cost anything?

No, switching is free!

Do I need my spouse’s consent to switch a debit order?

No, you do not need your spouse’s consent to switch an Absa debit order. However, if the service provider needs more information they will contact you directly.

Do all service providers accept debit order or salary switching instructions from Absa?

No. Some service providers will only switch on your direct instruction and will not accept switching instructions from Absa

All employers will only switch on your direct instruction and will not accept switching instructions from Absa

We will however help you initiate the process by providing you with switching letters to send to these service providers and employers

See the list of all service providers, who do not accept Absa-initiated debit order or salary switching instructions

Will Absa be able to switch my internal stop orders and beneficiary payments?

Unfortunately not, but you can have this done by either visiting your nearest Absa branch or on Absa Online

Can Absa change the date when a debit order is due?

No, only you can change your debit order dates

When do I need to close my old account?

You can close your old account after:

you have confirmation that all your debit orders and salaries have been switched;

your first run of debit orders has come off your new account; and

your salary has been paid into your Absa account