What is Bank Account?
A bank account is a financial account maintained by a bank or other financial institution in which the financial transactions between the bank and a customer are recorded.
Best Bank Account In South Africa
Here are the highest paying savings accounts for an R5 000 deposit in South Africa
| # 1 | Absa Cash Invest Tracker Min Deposit: R0 | 8.4% |
|---|---|---|
| # 2 | FNB Savings Account Min Deposit: R1 | 6.55% |
| # 3 | Mercantile Call account Min Deposit: R1k | 6.25% |
| # 4 | TymeBank GoalSave Min Deposit: R1 | 6% |
| # 5 | Standard Bank PureSave Min Deposit: R1k | 5.3% |
Which South African bank account is best for foreigners?
Best banks in South Africa
Standard Bank: being one of the largest in South Africa and having a rather long history of banking outside of the country, Standard Bank offers a quality selection of services tailored to foreigners.
Which bank is best to open in South Africa?
Capitec Global One Account
With over 14 million customers, Capitec Bank has gained a reputation for being one of the most affordable and customer-friendly banks in South Africa. The Global One account offers a simple, transparent fee structure and an array of features that cater to a wide range of customers.
Which bank has the lowest fees in South Africa?
Cheapest bank accounts in South Africa
| Basic costs and minimum balance requirements | ||
|---|---|---|
| Bank account | Monthly fee | Deposit branch |
| FNB Easy PayU | R4.95 | R80 + R2.75/R100 |
| Standard Bank MyMo PayT | R5.95 | R80 + R2.50/R100 |
| Capitec Global One | R7.00 | R4.00/R100 |
Which account can a foreigner open in South Africa?
However, you can open a Foreign Currency account before you leave the country.
You’ll also need to provide us with:
- Tax clearance certificate.
- Certified copy of your passport.
- Certificate of Citizenship or Permanent Residency.
- Documents of title pertaining to all your South African-owned assets.