Absa Essential Business Account

The Absa Essential Business Account is ideal for low volume business customers to help streamline banking costs, regardless of whether you are a start up business or an established business. This account includes a current account with 30 free monthly electronic payments and transfers, a debit card and access to valued adds such as; Concierge Service and Business Legal Advice, all included in a bundled monthly account fee.

Absa Essential Business Account Features:

• Debit card: assisting you with day-to-day cash withdrawals, cash free payments and purchases
• Unlimited transacting channel: access to our branch network as well as our electronic platforms, such
• as;Internet Banking, the App, self-service kiosks, ATMs and Absa supported ATMs
• Statements: receive statements either via post or email
• Cheque book: a personalised cheque book is available if required
• Multiple accounts: open an unlimited number of business accounts in your profile
• One account number for life: retain your existing account number when changing between current
• accounts
• Block debit orders: block unwanted debit orders to protect your funds from being used fraudulently
• Transfer charges: transfer your banking fees to another Absa current account in your profile

Benefits:

• Packaged pricing to help you save and control your banking fees
• Personalise your products: you can name your account and debit card a name you want
• Value adding offerings: Switching Service, Concierge Service and Business Legal Advice at no cost
• Banking Support: access to our Enterprise Development Centers
  A business current account also provides:
• • Legal protection on your personal assets should there be a legal recourse against your
  • business
  • Tax advantages as it enables professional reporting on business funds to correctly align to
  • tax requirements
  • A note of credibility to your business as it provides proof that your business exists as a
  • separate entity with its own records

Absa contact details:

Address: 15 Troye Street,
Johannesburg, 2001

Tel: 011 350 4000
Email: [email protected]
Website: www.absa.co.z

Account Details

Monthly Fee	59.50
Account Type	Standard Fee
Monthly transactions included	30 Transactions For Free
Interest	0.00

Qualifying Criteria

Age Requirement	18
Minimum Monthly Salary	Below R10 000000
Minimum Monthly Balance
Minimum Opening Deposit

Deposits

Cheque Deposit Branch	25.00
Cheque Deposit ATM	25.00
Cash Deposit Branch	7.00
Cash Deposit ATM	R3.00 + R1.50/R100.00

Cash Withdrawals

Branch counter	R50.00 + R1.50/R100.00
Own Bank ATM	R3.95 + R1.30/R100.00
Other Bank ATM	R9.95 + R1.30/R100.00
Point Of Sale/Till	3.95
Overseas ATM	50.00

Purchases

POS (Point Of Sale) - local	3.95
POS - Overseas	R9.85 + R0.85/R100.00 (max. R45.00)
Prepaid	1.15

Account Payments

ATM	8.00
Branch Counter	50.00
Internet	0.00
Cellphone	NA
Telephone Advisor	NA

Debit Orders

Internal Debit Orders	4.50
External Debit Orders	R12.00 + R1.50/R100.00 (max. R20.00)
Stop Orders	4.50

Fund Transfer

ATM	3.95
Branch Counter	50.00
Internet	0.00
Cellphone	0.00
Phone Advisor	50.00

Balance Enquiries

ATM	1.50
At Other Bank ATM	5.00
Branch counter	5.00
POS	1.00
Overseas ATM/POS	1.00
Internet, Cellphone	5.00
Telephone Advisor	0.00

Statements

Branch	20.00
ATM	5.00

Administration Fees

Bank cheque/marked cheque	120.00
Stop payments	75.00
Stop order	0.00
Special clearance	120.00
Debit Card replacement	100.00
Cheque Card replacement	100.00
New Cheque Card	0.00

Other Fees

Overdraft ledger	45.00
Dishonoured / returned payment	120.00
Notice of payment

Added Benefits

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