Investment Advantage is ideal for the serious investor who is looking for risk-free, attractive returns
Note:
1. Clients can register for eStatements by logging on to Internet Banking and clicking on the ‘Portfolio’ menu bar and then on ‘eStatements’, or via Telephone Banking or by sending their request to [email protected]
Investment Advantage
Other fees
Notification fee (SMS or email) No charge Dishonoured / returned payment N/A Declined fee (insufficient funds)
• Absa ATM • Absa-supported ATM • Saswitch ATM • POS No charge No charge No charge No charge Returned cheque deposit R75,00
Credit Cards
Monthly fees
Monthly subscription fees – Internet, Cellphone, Telephone Banking No charge Purchases
Credit Card purchases No charge Garage Card purchases R4,00 Deposits
Cheque deposit: Branch counter R14,00 Cheque deposit: Absa ATM No charge
Cash deposit: Branch counter R6,20 + R1,35/R100 Cash deposit: Absa ATM R3,00 + R1,25/R100 Cash withdrawals
Branch counter (any local bank) R33,00 + R1,40/R100 (max. R500) Absa ATM R3,95 + R1,25/R100
Absa-supported ATM R6,95 + R1,25/R100 Saswitch ATM R9,95 + R1,25/R100
Overseas ATM(1) R50,00
Account payments and funds transfers Account payments
• Absa ATM
• Branch counter R7,50R33,00 Funds transfers
• Absa ATM
• Branch counter No chargeR33,00 Balance enquiries
Absa ATM R1,00
Absa-supported ATM / Post Office terminal R2,95
Credit Cards
When used wisely, your Credit Card is actually cheaper to use than a Debit Card, as most of your purchase transactions are free. It’s also smarter to use your Credit Card instead of using cash – and here’s why:
• You get up to 57 interest-free days on purchases, excluding cash withdrawals, casino transactions, Internet Banking transfers, fuel purchases and budget plan purchases.
This applies if all outstanding balances on the Credit Card account were fully paid by the due dates. Cash and Garage Card transactions are not included in the interest-free period, as interest is charged from the date of transaction. Terms and conditions apply.
• Avoid paying cash deposit fees when you transfer payments to your Credit Card using electronic channels (Internet, Cellphone or ATM).
Tip: Use your Credit Card for fuel purchases, as no transaction fees are charged on fuel purchases done on a Credit Card.
Card type
Electronic
Silver
Credit Card R21,00 pm R19,00 pm
Affinity Card N/A R19,00 pm
Garage Card N/A R16,00 pm
Notes:
1. A currency conversion fee of 2,75% (of the rand value of the transaction) applies to any transaction outside South Africa. 2. We may charge a replacement card fee or lost card administration fee at our own discretion.
Credit Cards
Other fees
Replacement / lost card administration fee(2) R110,00
Unpaid debit order / cheque fee R95,00 Invalid disputes fee – domestic transactions R42,00 Invalid disputes fee – international transactions R113,00
Duplicate statement fee R5,00 per request. R1,00 per page (max. R50,00). Face-to-face delivery R99,00
Same-day delivery R314,00 Bank cheque R75,00 Initiation fee R135,00 Load fee: Low-value payments (LVP)
• POS
Where can I enquire about the pricing applicable to my account?
You can view the pricing applicable to your account in this pricing guide or on the Absa website (absa.co.za). You can also contact the Absa Price Line on 08600 08600 where we will explain specific fees and the various pricing options available to you.
What is a debit order?
An authorisation (mandate) that a client gives to a third party that allows the third party to automatically collect money from his/her bank account. Remember that clients can also use bill or beneficiary payments to pay their bills. Clients who choose to use debit orders should make sure that there is enough money in their account to cover the debit order.
What is an internal or external debit order / stop order?
Debit orders / stop orders can either be ‘internal’ or ‘external’. An ‘internal’ debit order or stop order refers to an amount paid from one Absa account to another specific Absa account, e.g. payments for Absa Home Loans, Vehicle and Asset Finance, Credit Cards or Absa insurance. An ‘external’ debit order or stop order refers to an amount that is automatically deducted from an Absa account and paid over to another non-specific Absa account.
What is the difference between funds transfers and bill payments?
An electronic funds transfer enables you to transfer money between accounts linked to your portfolio. For example, this transaction enables you to transfer money between your current account and savings account. A bill or beneficiary payment is a transaction used to pay a utility bill or beneficiary whose account is not linked to your portfolio of accounts (i.e. you would pay school fees, an electricity bill or rent using a bill or beneficiary payment transaction).
What is a Debit Card?
A card that enables a client to pay money directly from his/her account when paying for goods or services at retailers who display the MasterCard / Visa signs.
What is MasterCard / Visa Point of Sale?
MasterCard / Visa are the electronic payment networks that allow clients to use their ATM card as a Debit Card at participating retailers who display the MasterCard / Visa signs.
You must have either a Visa or a MasterCard Debit Card. You would use this to make Debit Card purchases.
What is electronic banking?
Banking conducted via the telephone, cellphone, an ATM or the internet. Clients require the use of a PIN to access their accounts using these channels.
What is a PIN?
A unique Personal Identification Number (PIN) that allows clients to access their accounts via the telephone, cellphone, an ATM or the internet.
What is an Absa-supported ATM?
These ATMs are supported by Absa and are dual-branded, ie. Absa / Cash Express. Withdrawals made from these ATMs attract higher charges, but lower than Saswitch machines.
How can I avoid rejected debit order fees?
Always ensure that you have sufficient money in your account to fund your debit order or stop order payments. Subscribe to Absa’s NotifyMe service to keep informed of all scheduled transactions that are performed on your account. Arrange for your payments to be paid as close to the date of your salary / wage deposit to your account. Allow a day or two delay just in case your salary / wage deposit is late. Remember, you have the right to choose the date of the debit order that suits you. If you find a debit order deduction is incorrect, you must immediately inform Absa and the company / retailer involved, in writing, that you are querying the transaction. This must be done in writing within 40 days of the error. To stop a debit order you must notify the company involved and Absa in writing. It is your responsibility to ensure that the company concerned does not deduct the next debit order amount. It is also recommended that you place a stop payment on the debit order with Absa.
Why should I opt for eStatements?
No charges are applicable for eStatements. Convert to eStatements and save on fees. You can register for eStatements by logging on to Internet Banking and clicking on the ‘Portfolio’ menu bar and then on ‘eStatements’, or via Telephone Banking or by sending your request to