What are the requirements for opening an Absa account? It’s something that a lot of people have been looking into. Absa is a major player on the South African financial scene. They currently boast of having over 4.45 million customers across the country. You are here because you wish to join them. Before you can do that, there are some requirements that you are going to have to meet.
What do I need to open an Absa account
The following are the requirements for opening an Absa account;
- A South African ID or a passport for foreign nationals.
- Proof of address. This can be in the form of a utility bill or a cellphone statement. Your proof of address needs to be less than 3 months old.
- Some accounts have minimum income requirements.
Types of Absa accounts
Those are the requirements for opening an Absa account. In general, these requirements are similar for most banks in South Africa. But what types of accounts are available at Absa?
There are many types of accounts that you can choose from. As an example, people earning no less than R3000 per month or those that do not have income can open the Transact account.
There is also the Absa Flexi account. This charges R30 per month as a maintenance fee on the account. To open this account, you need to earn over R3000 per month. The initial deposit fee is R50.
Students also have a number of option when it comes to opening Absa accounts. The advantage of the student accounts that are on offer is that you do not have to pay a monthly fee.
In this article, we gave you the requirements for opening an Absa account. It was noted that Absa is one of the country’s major financial institutions. In order to open an account, there are some requirements that you are going to have to meet. These requirements are mostly similar whatever the bank that you may be looking at in South Africa.