How To Open an ABSA Bank Account (Online & Offline)

For more than a century, ABSA Bank has had a rich history of service and has earned numerous accolades for its integrity. It stands as a strong contender for any customer looking to open a new bank account. Let’s explore today in this article how you can open an account with ABSA Bank Branch.

Saving for the future is quite important for us, so depositing our savings with ABSA Bank would be a good option. However, you’ll first need to open an account with ABSA Bank. This Bank provides various facilities to its customers such as online banking, mobile banking, insurance services, credit cards, etc. So let’s first understand what the requirements are for opening an account with ABSA Bank.

Eligibility Criteria to Open ABSA Bank Savings Account

Only South African citizens over 18 can open an Absa Bank account online. Other new customers will be required to visit their local branch. A valid address in South Africa is required, as well as two forms of identification. It should be noted that online applications only accept three types of ID:

• Should be a citizen of South Africa.
• The applicant should be 18 years and above to be eligible. In the case of minors, the parents or legal guardians of the minor can open the account on their behalf.
• The applicant is required to have a valid identity and address proof that is government-approved.
• Once the application is verified by the bank, the applicant will have to make an initial deposit – depending on the minimum balance requirement of that particular savings account he/she has chosen.

Why Choose an ABSA Savings Account?

Through its network of branches in South Africa and overseas, ABSA provides a range of financial products including the ABSA Savings Account. The savings account has a variety of benefits and services. The most attractive features are that the savings account does not require a minimum balance and provides an Automated Teller Machine (ATM)/Debit card, net banking, credit card, and mobile banking facilities.

Key Benefits of ABSA Savings Account

The following are the key benefits of the ABSA savings account: 

• Internet Banking, Mobile Banking, Cellphone Banking
• Transfer accounts to any ABSA Branch without changing the account number
• Passbook issued free of charge
• Multicity cheques
• Safe Deposit lockers
• Nomination facility
• Personal Accident Insurance and car insurance are available at a nominal premium
• Multiple variants of ATM/Debit Cards like Gold Cards, International ATM/Debit Cards, etc.

Additional Benefits

Here are some of the additional benefits of an ABSA savings account: 

• Mobile Banking provides a host of services like funds transfers, interbank mobile payment services, enquiry and Absa Bank statements, chequebook requests, utility bill payments, mobile recharges, and M-Commerce.
• Some of the facilities of Absa Net Banking are opening and closing fixed deposits and transferring funds paying utility bills, online shopping, viewing statements and Demat operations, and setting standing instructions.
• The Debit card can be used for balance enquiry, withdrawing money, paying insurance premiums, shopping, donations, and card-to-card transfers.

How To Open an Online ABSA Savings Account?

Follow the steps mentioned below to open a savings account online at ABSA Bank: 

1. Visit the official website of ABSA Bank (www.absa.co.za)
2. Under the ‘Accounts’ section, Tap on the ‘Savings Account’ option. 
3. Tap on the ‘Apply’ option.  
4. Enter the requested details such as your name, date of birth, address, etc., in the application form.  
5. Click on the ‘Submit’ option.  
6. Once this process is finished, go to the branch with the necessary documentation. 
7. ABSA will initiate the verification process and activate your account within three to five business days.

Steps to Open an Account in ABSA Bank Offline

To open an Absa savings account at any nearest Absa Bank branch, customers will have to follow the steps mentioned below:

• Step 1: Visit the nearest branch of ABSA. 
• Step 2: Ask for a form to open a savings account.  
• Step 3: Fill out the form according to the specifications. 
• Step 4: Enter all the requested information and submit it along with relevant documents.  
• Step 5: Deposit a minimum amount of R1000. 
• Step 6: Take your free passbook and chequebook once the process is completed.

Open an Account with the Absa Banking App

• Download the Absa App
• Choose the account you would like to open
• Tell us who you are
• To keep you safe, we will verify your cell phone number
• Take a selfie, and we will do facial matching with the Department of Home Affairs to confirm you are who you say you are
• Tell us where you live
• Let us know what you do for a living and your income
• Click Apply.

This is another way Absa is finding innovative ways of doing business with our customers in mind. That is Africanacity, that is Absa.

ABSA Account Helpline

For any help, grievance, or request related to the ABSA Bank account, customers can contact the helpline at – 0860 100 372 or email us at: absa@absa.co.za.

FAQs on Steps to Open ABSA Account

Editorial Note: The information presented in this article is not provided by the Absa Bank. The article has been created for educational purposes and is intended to be helpful for customers of the Bank. It should be emphasized that the content is not endorsed or validated by the Bank, and readers should refer to the official website for accurate and up-to-date information about the bank’s products and services.