Best Cheque Accounts in South Africa: Many banks in South Africa offer cheque accounts to satisfy the needs of its customers. Choosing the appropriate bank and account for your needs can take time.
Having the greatest cheque account means low expenses, free ATM use, and excellent customer service, says Radius Checking’s top financial advisor Rethabile Sithole. Even better if you get interest.”
Finding a great check account is difficult in a country with so many banks offering different accounts for different clients.
Our best-of-the-best list excludes high-end cheque accounts. In terms of customer service, client relations, and interest, these accounts are superior.
We focus on top-tier cheque accounts from all five major banks. Accounts at Discovery Bank, Investec, Old Mutual, and Postbank were thoroughly examined.
10 Best Cheque Accounts in South Africa
1. FNB Easy Account
Features And Benefits Of FNB Easy Account
- Free historical statements are available.
- Unsuccessful transactions are charged 8.50 ZAR.
- Simple conversion to a gold account
- Amount charged for a balance inquiry if you are assisted by a FNB adviser.
- Transfers are both free and planned.
- Charges for linked account transfers if a consultant is involved.
- Charges on debit orders are no longer levied.
- Additional bank statements are subject to fees.
- This account can be banked in three distinct ways.
2. Standard Bank’s Access Account
Features And Benefits Of Standard Bank’s Access Account
- This account is open to those with a monthly income of 0 ZAR.
- When compared to similar products from other banks, bank costs are greater.
Allows for large-scale transactions.
- Internal transfers, card swipes, balance inquiries, debit and stop orders are all free through mobile.
- Monthly costs are low.
3. Old Mutual Money Account
Features And Benefits Of Old Mutual Money Account
- Monthly costs that are competitive, as well as a large number of free transactions
- Money Account can only send money to those who have the same account as them.
- Simple and motivating method to save money
- Savings are placed in a money market unit trust
4. Discovery Bank Gold Cheque Account
Features And Benefits Of Discovery Bank Gold Cheque Account
- Bank fees are low.
- Currency conversion rate of 2.75 percent
- Rewarded for certain health items and equipment purchased at specific stores
5. Absa Transact Debit
Features And Benefits Of Absa Transact Debit
- Catering to consumers who do not have a steady source of revenue
- Accounts may only be accessible by people earning 3 000 ZAR or less; after three months of transaction activity exceeding 5 000 ZAR, the client is automatically transferred to a higher tier product.
- There is no subscription cost for banking online, through the app, or over the phone.
6. Capitec Bank Global One Account
The Global One Account Has The Following Features:
- Transactions on a daily basis
- International business dealings
- Savings — options for both flexible and fixed-term savings
- Home loans, credit, and other services
7. Account Nedbank Ke Yona Bundle
Features And Benefits Of Nedbank Ke Yona Account
- Funeral insurance of 2 000 ZAR
- Because it is intended for low-income banking, transaction quantities are limited.
Internal debit orders and stop-orders are limitless and free.
- Free card swipes are available indefinitely.
- eNote SMS alerts are completely free.
8. TymeBank Everyday Account
There are also the following freebies with this account
- Monthly administration charge
- Subscription cost for smart app.
- Subscription charge for internet banking
- Fee for SMS notification
- The first debit card.
- Statement of accounts.
- Notification of Beneficiary Payment
- Account proof, among other things.
Features And Benefits Of TymeBank Everyday Account
- A substantial variety of freebies and perks are available.
- Certain constraints and limitations
- The pay-as-you-go premise
- Limit increases are time-consuming.
- There are no monthly account fees.
9. Nedbank Pay-As-You-Use-Account
Features And Benefits Of Nedbank Pay-As-You-Use-Account
- Account is perfect for individuals who do not frequently use a bank account.
- If the card is used regularly, it may become less cheap.
- The Nedbank Money App makes it simple to access. There is a limit to the amount that may be stored in the bank.
- The fees are reasonable.
10. FNB Gold Cheque Bundle