For those searching about the Absa Flexi account in South Africa, here is the answer.
We will start by showing you what exactly a Flexi account is.
What Is A Flexi Account
This is simple savings account with a low monthly service cost.
It is simply a pay-as-you-go account that allows you to pay for only the services you utilize.
This account is best suited for clients with fewer transactions as the transaction cost is low for a few transactions.
Now that you understand what a Flexi account is, we will show you how the Absa Flexi account works in South Africa.
Absa Flexi Account In South Africa
When you join the Absa rewards program and visa deals, there are lifestyle gains.
Flexi account holders receive a lump-sum death benefit in case of death and have access to Absa quick loans.
You can obtain an instant loan that requires no documentation and allows you to get cash at any moment.
You only need to have a solid credit score and a steady income of R250 or more to get an instant loan.
You can apply for the account through online banking and start transacting immediately.
This is how the Flexi account works in South Africa.
Benefits Of Absa Flexi Account
We will now show you the benefits of opening an Absa Flexi account.
The account charges a monthly service fee of R29.00.
There is a lump sum death benefit of R15,000, which is redeemed by your selected beneficiaries.
You get instant loans of up to R8,000.
You get a rebate on the monthly administration fee if you maintain a balance of R5000.
You can shop online securely using the Flexi debit card, as each transaction requires a secure verification code.
You earn cashback by joining the Absa rewards program.
You have free access to Absa digital platforms, can switch debit orders for a fee, and get your monthly statements at no cost.
These are the major benefits of an Flexi account in South Africa.
Now that you know the benefits of opening a Flexi account, we will show you the account requirements.
Requirements For A Flexi Account
Below are the requirements to qualify for the account:
- You must be 18 years or older
- A valid South African ID or smart card
- Provide proof of residence not older than three months
- Must earn a minimum income of R3000
- You should maintain a balance of R50 in your account
This is all you need to know about the Absa Flexi account in South Africa.