Absa Business Evolve Account, How To Open The Account

Today’s guide will briefly discuss Absa business evolve account in South Africa.

This package is designed for businesses that have lower transaction volumes.

The account includes fixed-fee banking to support your cash flow and budget needs.

You can apply for an account online through Absa online or the Absa banking app.

We will first show you the requirements to apply for this account.

What Are The Requirements

A business entity with an annual turnover of up to R500 million qualifies for this account.

Below are the documents required to apply for the account:

You need a copy of your ID
You need proof of residence
Proof of the business’s physical address or an affidavit for the sole proprietor.
Submit your three months bank statements for your personal account.
Company registration documents if you are not a sole proprietor
You need a company resolution where there is more than one signatory

These are the basic requirements to apply for the Absa business evolve account in South Africa.

Now that you know the requirements, we will show you the features of the account.

You have free 24/7 access to Absa online and the Absa banking app.

You get a visa debit card to help with your day-to-day cash withdrawals, cash-free payments, and purchases.

You can withdraw funds from the account any time you need them.

All cash transactions over the bundled number or transaction value are charged an out-of-bundle fee.

Transactions that do not form the bundled transactions are charged on the normal PAYT basis.

You get to retain your account for life even if you change business transactional account types or price plans.

You have access to the self-service portal, Absa ATMs, Absa supported ATMs, branch network, and a cash handling service.

You can view your statements online or choose to receive them via email.

There is a shariah-compliant account available if you need one.

These are the features of Absa’s business evolve account in South Africa.

We will now briefly look at the cost of this account.

There are no charges for Absa inter-account transfers, Absa-to-Absa debit orders, and NotifyMe.

The monthly fee for this account is R265.

There is no monthly fee for the Absa SmartPay card.

You have access to the cash flow manager at no additional monthly fee.

This is all you need to know about Absa’s business evolve account in South Africa.