In today’s account, we will show you how an Absa Flexi account work in South Africa.
We will begin by briefly explaining to you what an Absa Flexi account is.
What Is Absa Flexi Account
A flex account is a sub account of your main account.
Absa Flexi account is a pay-as-you-use account.
This means that you can do your daily banking transactions and only pay for the amount you used.
Absa Flexi account is tailored for clients who do not make lots of bank transactions.
The lower the number of transactions, the lower the transaction costs.
Requirements To Open Absa Flexi Account In South Africa
Below are the basic requirements to open an Absa Flexi account:
- To open an Absa Flexi account, you need to have a minimum income of R3 000 monthly
- You need to open an Absa account to use as the main account
- You need R50 to deposit an opening account balance
- You have to provide your south African ID or your smart card ID
- You have to provide proof of residence that is not older than three months
These are the main requirements to open an Absa Flexi account in South Africa.
Now that you know what is required of you to open an Absa Flexi account, we will go ahead to show you how an Absa Flexi account works in South Africa.
How Does Absa Flexi Account Work
Absa Flexi account charges a monthly service fee of R29.00.
You will be offered a rebate on monthly administration fees if you maintain a balance of R5000 in your Absa Flexi account.
Absa Flexi’s account gives you a lump sum death benefit of R15,000.00 that your selected beneficiaries redeem in case of death.
You can also get an instant loan of up to R8000.00, approved within minutes after making an application.
This is generally how the Absa Flexi account works.
Now that you know how the Absa Flexi account works in South Africa, we will show you the benefits of the Absa Flexi account over other accounts.
What are the benefits of Absa Flexi Account
Here are the benefits of the Absa Flexi account in South Africa:
- With an Absa Flexi account, you have free access to Absa digital platforms.
- You can switch your debit orders for free with an Absa Flexi account
- You have access to CashSend and can therefore send money to people without a bank account.
- You can join the visa program to enjoy exclusive offers, rewards, and benefits whenever you swipe your Absa flexi debit card.
This is all you need to know about the Absa Flexi account work in South Africa.