Banking Products & Financial Services

A South African bank that really GETS you

Banking is a pretty general term, but then again, it truly does encompass everything that relates to (quite simply put) banking!

As much as most of us might like to try and avoid banks and formalised institutions such as these, we simply cannot do without them. It’s the place where our incomes are paid, it’s where we invest in our future, it’s the home of all savings, it's where we turn to to get an instant loan via our banking app and a means of receipting and paying those that need to be paid.

Like it or not, banking is a part of our everyday life and there are many pros and wonderful benefits we get to experience through banking, so it’s something to be welcomed.

Provided we are knowledgeable and educated on certain financial and banking structures, we can save a lot of money and make a lot of money depending on how far we utilise it to our benefit.

Whether you just need an affordable bank account for everyday use or a business loan - these banks are the first place you're going to look since they typically offer the lowest rates and the best service given the size and scope of their operations.

Can foreigners bank in South Africa?

They certainly can. What’s required however is a valid contract of employment at the company that the individual is employed at while making sure to declare any assets or otherwise funds that have come into the country. Generally, a bank will allow for this by filling in the necessary forms required for foreign banking.

An alternative option is to set up a bank account through an international bank so that when you’re in South Africa you are able to do your banking via that bank. Foreigners are, however, not always able to qualify for finance like home loans, car loans, short-term loans or credit cards unless they bring in a large amount of money on a regular basis or are starting a business and plan to settle permanently.

What Banks will I find in South Africa?

South Africa has some of the best banks available to get your banking underway. All your financial needs can be met at one single bank and you have the freedom to choose the one that would suit your lifestyle requirements the best. You’ll find local, national and international banks to choose from. Each comes with its own regulations and also benefits, such as an international bank, for example, if you travel a lot for business or otherwise leisure, imagine the convenience of being able to bank anywhere in the world without a fuss.

Not to mention that the top banks in the country also belong to the Banking Association of South Africa, which means that when it comes to updates and changes in keeping with the times and sorting out societal hurdles with banking, they have a large voice in the room where the government is concerned.

Banks have trading hours that cater to you, but also stick to the international banking trade hours. Therefore, you can go into a bank any time from 9 am in the morning and no later than 3:30 pm during the week. Make sure that if you have banking that you need to do, you avail yourself of these times, otherwise it means waiting until the next day.

What services will the bank offer to make my life simpler?

If you’re about to purchase your new dream home that you have long waited for, you can simply pop into your bank and request to speak to a consultant regarding property finance. Someone will sit down with you, usually, a home loan specialist and they will discuss your options for obtaining a home loan with them.

If it’s a vehicle you’re after, let’s say that your old beat-up station wagon is ready for the scrap heap and it’s time for a brand-new upgrade! Then approaching your bank for vehicle finance on a vehicle is the best place to go. Not only do they already have all your information on hand, which makes applying all easier and quicker, but it also means receiving better deals and more attractive interest rates on the finance deal.

Have you just inherited a large sum of money? Or perhaps you have sold something that has left you with a surplus that you’re unsure what to do with? Investing is always an ideal way to preserve and grow your money. At your South African bank, you can go in or apply online for an investment account. Better yet, meet up with someone at your bank to get some solid and sound advice on which investment to go with.

They are ready to help you in any way possible, from stocks and trading to your traditional savings and investment accounts, they’ll have it all for you. Before you know it, you’ll be making your money work for you! For every other requirement that you might have financially from loans to accounts, to credit cards and rewards programs, banks have it all! You simply cannot go wrong when you choose a bank to use the money, make money and save money.

The only thing that you have to decide on is which bank works for you. Do your homework, read some reviews, consults with people you trust and as mentioned before – look up the rewards and benefits for each and find one that suits your lifestyle.

What are the bank charges like?

Certain banks charge for every last transaction that you make, others offer packages where you don’t pay any charges, but you pay one premium monthly account that encompasses all these potential charges. When you open up an account at a bank you will typically be charged for the opening of that account.

Where fees are concerned, they will differ from bank to bank. There are fixed fees that cover certain transactions, and there is also the option where you can choose to pay per transaction and have a lower monthly account fee. There is a way that you can keep your fees low, by going through the terms and conditions of your banking institution and seeing where all the advice is on what to do and what not to do to keep your transaction fees down. When it comes to credit cards and personal loans each bank differs in the way they screen you and will very likely offer you different rates.

Is online banking better?

It’s no secret what the world of online banking has done for consumers at the end of the day. The convenience is unparalleled in any industry when it comes to the difference between going into a bank, standing in a queue and dealing with paperwork versus sitting in your seat, logging into your computer and your bank account while transacting in your own environment.

Virtually everything that you can do in a bank – you can do online. There are however still a number of things that you cannot avoid the bank for and that would be with more sensitive agreements or otherwise to collect something, or perhaps even to have a meeting over advice on investments.

If you need to transfer funds between accounts or make your monthly payments, you can do it all online! View your rewards, see your balances, pull statements – it’s all there! Online banking has revolutionised the way in which we bank and it’s certainly the preferred option in today’s era.

You can apply for credit by completing a loan application online which will save you from having to visit the branch and spend time waiting in line and filling in paperwork.

Banking in South Africa

When you choose to bank in South Africa, you will have access to every type of financial service you can imagine. For all your loan needs, whether personal, home loan, revolving loans, or quick loans, they’ve got it all. There are experienced and highly trained consultants that will meet you with a friendly smile and indulge your needs as and when you need them. Banking is traditionally still one of the number one places where you can receive service excellence through all your encounters.