Are you interested to learn about the Absa cheque call account in South Africa? Then check out this guide.
The Cheque call account is a demand investment used as a holding account for excess operating cash.
This account holds the excess business operating cash and earns interest on it.
We will first show you how to apply for this account.
Absa Cheque Call Account
You need a minimum deposit of R1000 to open this account.
Once you have deposited the cash, you can continue your normal bank transactions with the account.
You do not need to notify the bank to withdraw funds from the account as it is instant.
This account allows inter-account sweeping.
Account sweeping is where an account automatically transfers amounts that exceed a certain level into a higher interest-earning investment option at the close of each day.
Sweeping accounts minimize cash drag by capitalizing on the immediate availability of higher interest accounts.
Interest on the cheque call account is calculated daily and capitalized monthly.
You can make transfers to and from your Absa current account.
This is how the cheque call account works in South Africa.
We will now show you the benefits of this account.
How To Apply For Absa cheque Call Account
You should be a South African, 18 years and older, to apply for the account.
You can apply for the cheque call account online via Absa online banking or the Absa mobile app.
To apply for the account, click on this link: https://ib.absa.co.za/absa-online/login.jsp.
Alternatively, you can visit any Absa branch near you to apply for an account.
This is how to apply for an Cheque call account in South Africa.
Benefits Of The Account In South Africa
The account offers competitive interest rates and no minimum deposits or withdrawals.
You have access to Absa electronic channels with this account.
You can deposit and withdraw money from the account anytime with no limitations.
These are the benefits of the Absa cheque call account in South Africa.
That is all we have for you in this guide.