Are you interested in the Absa ignition account in South Africa? Then read this short guide to learn.
We will start to briefly explain to you what an ignition account is.
What Is Absa Ignition Account
This account is a savings account designed for young, ambitious people, especially students who are ready to kick start their life and take over the world.
The account enables students to save on banking fees and also earn monthly interest on credit balances.
Now that you understand what an ignition account is we will show you how it works in South Africa.
Absa Ignition Account
With this account, you get up to a 50% discount when you swipe your debit or credit card at any of Absa’s partner merchants.
You get a VISA debit card accepted worldwide.
There is an interest on credit balances of up to 1%, which is paid calculated on a daily basis and monthly.
You get free SMS alerts, free eStatements, and you can buy airtime on all networks easily.
Depositing cash and cheque at any Absa branch is free.
There is no monthly service fee, so your funds will remain intact.
When you open this account, you can sign up for free advice from Absa on financial literacy and how to put together a great CV when job hunting.
You get access to mobile and online banking.
To open an ignition account, you can visit the Absa branch near you or, better yet use the Absa online banking to create an account instantly.
This is how an Absa ignition account works in South Africa.
Now that you know how the account works we will show you the requirements to qualify for the account.
What Are The Requirements
Below are the basic requirements for an ignition account in South Africa:
- You must be 24 years old or younger
- You should provide a valid South African ID or passport if you are a foreigner
- You need proof of residence like a utility bill not older than three months
These are the requirements to open an Absa ignition account in South Africa.