Bank accounts are all about safely saving money, easy access, fees as well as rewards and benefits. Current accounts in South Africa have proven to be a safer way to store your money and provide instant access to your cash. Below are some of the best current accounts available in South Africa.
Absa transact account – The Absa transact account offers a simple and affordable way to bank, providing all your basic banking needs but without the unwanted extras. This account is a perfect choice for those who don’t have a regular or fixed income. Although no rewards are earned using this account, you will also benefit from having to hold no minimum daily or opening balance to open or keep the account open. The account offers a transparent pricing policy, with transactions being charged on a pay-as-you-transact basis making it even easier to understand.
Nedbank ke-yona pay as you use account -The Nedbank Ke Yona pay-as-you-use account is the perfect choice for those who are just starting out and who have never had an account before. The account offers a simple and easy to understand set of fees with no added monthly account fee. Nedbank customers also receive free SMS and cell phone banking included in the monthly fee.
Nedbank ke yona plus account -The Nedbank Ke Yona Plus account is one of the cheapest current accounts on the market making it both flexible in terms of a pay-as-you-use account but which also offers an affordable way of managing your money with free access to the Personal Money Manager. With no minimum income required for the application process, the account is a great way for anyone who wants to start building a credit record for the future
Absa islamic chequing account – Absa was one of the the first in the world to market a Sharia-compliant product launching its Islamic banking brand back in 2006. The account has been fully designed to comply with Shari’ah Law removing any payment of interest and making transactions and fees transparent to all account holders. The account conveniently allows you to manage your everyday banking needs including 24 hour access to internet, telephone and cell banking. Successful applicants can even earn cash back for signing up for extra products.
Capitec global one account -The Capitec Global One Account came out on top as the most popular current accounts on the market at present. With a monthly fee of only R5.00 per month they are one of the cheapest current accounts around, with low fees offering zero purchase fees on purchases abroad and 24/7 access to phone and online banking. Although they don’t currently offer further finance through the account in terms of loans or car finance, they certainly do come up top in regards to its customer service and are clearly focused on keeping banking simple.
FNB gold cheque account – The FNB Gold Cheque account is one of the most popular on the market at present.Just like all FNB accounts, they come with eBucks rewards incentives, but the Gold Cheque Account provides an extra 1.2% back in eBucks rewards for all shopping. No other bank at present offers a reward scheme as good as FNB, so if you fit the annual earnings criteria, this is the card for you.