Meet the bank Absa

ABSA, known as African Bank of South Africa, is a financial institution native to South Africa. Its foundation dates back to 1991, when it began as a division of Barclays Africa Group Limited, but acquired independence in 2017.

This institution played a significant role in the financial landscape not only of South Africa, but also of the surrounding region. Over the years, ABSA has expanded its reach beyond South African borders, establishing itself in several African countries and other global locations. Its operations span a variety of financial products, from personal services to enterprise and investment banking solutions.

Fees and commissions

Minimum opening balanceR5,000
Minimum balance to earn interestR10,000
Maintenance feeFree
Statement (copy - per sheet)R40
ATM withdrawals (at other local banks)R50
ATM withdrawals (overseas ATMs)R75
Standing Orders (to another Absa Account)R15

See the full table of fees and commissions at:

Absa Products Reviewed by Midnance:

How to open an account

Starting an account with ABSA Bank is a surprisingly uncomplicated and extremely agile process.

Requirements to open your account:

  • Valid South African identity card with barcode or valid foreign passport.
  • Proof of address

To open your account, follow the steps below:

  1. Online application: fill in all the required details at your own pace.
  2. Digital KYC verification: complete the digital KYC verification process.
  3. Start using banking services: everything is ready! Your Digi debit card will be delivered to your residence. Experience banking services that turn your possibilities into reality.

Talk to ABSA:

For general information, please contact us by the following methods:

We are available 24 hours a day, seven days a week to serve you.

You can also follow ABSA on social networks:

Absa’s Facebook
Absa Twitter