Financial and banking research shows that poor infrastructure raises transaction and information costs,thus hindering the spread of financial services. It has also been discovered that certain illegal practices have contributed to obstructing the development of a sustainable banking sector especially one that caters for the Agriculture sector. Absa bank which is among South Africa’s biggest banks has stepped into this area with an innovative intervention measure which is the Absa workplace banking.
Workplace banking product is a testimony of the banks desire to support both commercial and smaller farmers and their workers,helping foster trust and job fulfilment in the farmer to farm worker relationship. Some of the features of this product include the fact that it provides your employees with preferential service, competitive pricing and access to industry leading transactional and lending products. Services are provided through a specilaised banking team, a branch network and an array of digital service channels for 24/7 banking access.
Benefits under this facility are grouped into everyday banking, lending, protection for your family and assets as well as savings and investments. Everyday banking has offerings like prepaid debit cards, low cost transactional products and value bundles. Lending offers you persobal loans, asset lending products for cars and homes. Protection for your family and assets comes through life assurance, wills and short term insurance. Savings and investments can be achieved through demand deposit savings to fixed term deposits as well as share trading. On top of all this, there is also value added services and a dedicated rewards programme.
To access Workplace banking, Absa can be contacted on 0860040302.