If you want to know how to open an FNB Joint savings account in South Africa, check out this guide!
A joint account is an account owned by 2 to 4 people.
To open an account you have to visit the bank branch together with all the account members.
What Are The Requirements
Below are the basic requirements to open an FNB joint account:
- All members should be at least 18 years old and with a registered ID
- You should provide documents to verify your wealth, such as the last payslip, letter from your employer, copy of a sales contract, sold property, or a signed copy with the buyer or advocate’s signature.
- Documents to prove your identity, including a passport photo, birth certificates, or ID cards
- Proof of residence, including a utility bill, telephone directory, or a residential area document.
These are the significant requirements to open an FNB joint account in South Africa.
Features Of A FNB Joint Account
With a joint account, you are assured of earning more interest compared to a single savings account.
You can make collective payments like loan repayments hence spreading the cost.
Finances from different branches or companies are mobilized and managed in a single central avenue.
Joint accounts are cost-effective in that you only pay charges for a single account, unlike having many individual accounts.
You have easy access in that every member has firsthand access to auditing statements available online and free to download.
Group Members enjoy a collective tracking of the fund’s flow.
These are the key features of the FNB joint accounts in South Africa.
How To Open FNB Joint Savings Account In South Africa
To open an FNB joint account, you need to visit any FNB branch and request to open an account.
Ensure that all joint account members are present and have carried all their identification documents.
You will be given a form to fill out.
In this form, you are supposed to select the type of account you want to open, which is a Joint account.
Include the signature of all the members of the account for authentication.
Submit the fully filled form to the bank cashier and deposit some money into the account to activate it.
The bank cashier will then open a joint account for you using the details in the form.
This is how to open an FNB Joint savings account in South Africa.