Are you sending money (funds) offshore or receiving funds from abroad but do not know about the Absa international bank account in South Africa? Then check out this guide to learn.
We will first look at what an international bank account is.
What Is An International Account
This account enables people who live and work abroad to access money from other countries.
Account-holders benefit from all the perks of an onshore current account, overdraft facility, debit card, and a checkbook in some cases.
You get to choose the currency you want your account to use.
Now that you understand what an international bank account is we will show you the requirements to open the account.
Requirements For Absa International Bank Account
Below are the basic requirements to open Absa international bank account in South Africa:
- You need to be 18 years or older
- Provide a South African ID or passport
- You need proof of address not older than three months
- Proof of income
These are the basic requirements to qualify for an international bank account in South Africa.
We will now show you exactly how the Absa Global bank account works.
Absa International Bank Account
The account is not usually available for everyone but only for those who meet the requirements.
It requires you to maintain a high minimum account balance, and if you do not meet the requirement, you will be charged a certain monthly fee.
To make an international transaction, you need a swift code which you can find on your existing bank statements.
You may also need to provide your IBAN number when making a transaction.
The IBAN number is also found on your bank statement.
With this account, you can access your funds from anywhere in the world.
You get travel insurance to travel across the world.
You also get a good conversion rate and a fee-free ATM withdrawal.
You can use your Absa debit or credit card linked to your international account from all the countries covered.
There is 24-hour access to the internet and mobile banking, making it easy for you to manage your account anywhere.
You can set up international payments and trade in a number of different countries.
You can open an international bank account online from the Absa website, and you can access it within two working days.
This is all you need to know about Absa international bank in South Africa.