Absa severed its ties with Barclays Plc after the firm sold the shareholding it bought in 2005. 3 The fees payable for the issuance of a temporary Certificate of Competency is $162. This has resulted in withdrawal charges from native Absa ATMs to decrease overall. Both the bundled and platinum accounts move to PAYT pricing once their limits are used up. Download the Personal Interest Rates Brochure, Download the 2019 Pricing Brochure Download the 2019 Pricing Brochure Products no longer on sale. Automatic travel insurance when buying international return travel tickets can be topped up with a number of options for additional cover. However, if customers find themselves without an Absa ATM to draw from, the charges for other ATM withdrawals has increased. How does Absa compare to other services? While entry-level banking customers are benefitting from the more intense competition with a reduction in monthly account fees, mid-level to high-level banking customers will feel the pinch, with higher monthly fees for all main bank accounts. Registered office: Absa Head Quarters, Waiyaki Way, PO Box 30120, 00100 GPO, Nairobi, Kenya. We use cookies to optimise the user experience. Download the 2020 Private Banking Pricing Brochure, Download the 2019 Private Banking Pricing Brochure. This is how the monthly account fees have changed: Absa has made its basic, entry-level Transact account even more affordable in 2020, reducing withdrawal fees (for native ATMs), deposits and the monthly account fee. Business Identifier Codes (BIC codes) for thousands of banks and financial institutions in more than 210 countries. We are dedicated to growing your business - whether it be small or large - and offer you a wide range of solutions to suit your specific needs and requirements. Withdrawal fees now include a ‘per R1000’ calculation, dropping the strict fixed fee of R6.50. SWIFT code: ABSAZAJJXXX. Terms and conditions apply. Private Banking offers you comprehensive and flexible solutions with exceptional benefits, all with the help of your Absa private banker as a single point of entry. Customer deposits are protected by the Deposit Protection Fund of Uganda. There is no monthly cost for Cellphone and Telephone Banking, only charges for usage. Accounts in this sector now offer ‘zero banking’, with the pressure on legacy banks (Absa, Standard Bank, Nedbank, FNB and Capitec) to meet the price points of new, digital entrants (TymeBank, Bank Zero) which offer zero monthly fees and a host of free transactions. If you choose to bear all charges, you will be charged an additional USD25 as a flat fee for the correspondent charge. This pressure is reflected in the new fee schedule published by Absa, showing price cuts in its entry-level Transact Account, virtually across the board. In the 1st to 6th month, the rates are 1% higher than above and from the 7th to 12th month, rates are 0.5% higher than above (for balances above R100). With our Ultimate Account you get a current account that has bundled services and all the banking benefits you might need – all in a single account. The South African banking market has become highly competitive in 2019, particularly with a host of new accounts targeting the entry-level (typically low-income) markets. R3.95 plus R1.35 for every R100. You will also earn up to 30% cash back when you fill up or shop at Sasol. Absa bank has published its updated fee schedule for banking customers in 2020, showing price cuts in withdrawals fees and entry-level banking. 4 The fee payable for a duplicate Certificate of Competency is $59. * On inbound transfers, fees only charged if SWIFT instruction is BEN or SHA ** South African rand fee charged on South African rand deals irrespective of SWIFT instruction. To unpack this more, Gary Alfonso is joined by Richard Stocken and John Molanda of Absa … Business Identifier Codes (BIC codes) for thousands of banks and financial institutions in more than 210 countries. Electronic Collections Process bulk or multiple collections; Electronic Payments Flexible and secure payment solutions; Physical Cash End-to-end cash handling solutions; Card Solutions Card acceptances and corporate spend solutions; Integrated Solutions Payment processing and automated reconciliation; Third-Party Fund Management Full control of trust or third-party … Best, Andreas K. 1 Like. 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