What are the Absa account opening requirements for foreigners? South Africa is currently home to millions of people from across Africa and the rest of the world. If you are one of those people who have legally moved to South Africa, one of the first things that you will need to do is to open a bank account. It’s a requirement for those looking to get employed. Most companies say that you must have a bank account before signing a contract. Absa is one of the best banks for opening an account in the country. But what do foreigners need to have in order to open Absa bank accounts.
What do foreigners need to open Absa bank accounts?
The following are the Absa account opening requirements for foreigners;
- A monthly income is required depending on the type of account that you wish to open. Some accounts have no income recommendations, while others are open to people earning at least R3000 per month.
- At least R50 for opening the account.
- A valid passport from your home country.
- Proof of residence.
- A valid work permit or assylum papers.
You need to be legally in South Africa to open an Absa account?
Those are the Absa account opening requirements for foreigners? One thing to note is that only people who are legally in South Africa can open Absa accounts. There are hundreds of thousands of foreign nationals in the country who do not have legal status in the country.
In this article, we gave you the Absa account opening requirements for foreigners. It was noted that only foreign nationals who are in the country legally can open accounts with the bank. If you have all the right papers, you can open an account.
It was noted that opening an account is essential if you wish to get formal employment. You need somewhere in which your money is going to be deposited. So, opening an account tends to be the first thing that people do when they land in South Africa.