Are you interested to learn about the Absa multicurrency account in South Africa? Then check out this guide.
We will first briefly explain to you what a multicurrency account is.
Table of Contents
What Is A Multicurrency Account
This is an account where you have access to the worldwide wallet.
You have about seven currencies to choose from, and it is ideal for shopping or paying bills locally and abroad.
Now that you understand what a multicurrency account is, we will go ahead and show you exactly how the account works.
Absa multicurrency Account
With this account, you save on foreign currency transaction costs and get a free point of sale and online transactions.
When you open an account, you are offered a multicurrency prepaid card to aid in making transactions.
There is a chip and PIN technology that ensures safe transactions.
You can control your account through Absa online banking. You can change PIN, view transactions and block or unblock your card.
You can buy foreign currency for your trips up to 60 days before you travel.
You need to exchange any unused currency left on your card when you return from a foreign country trip.
Foreign currency exchange is free at an Absa foreign exchange branch.
The multicurrency card caters to Shari’ah-compliant customers.
This is how the Absa multiple icurrency account works in South Africa.
Now that you know how the account works, we will show you the currencies you can trade with the multicurrency account.
Which Currencies To Trade With
Below are the currencies in the Absa multicurrency account:
- US dollar
- Japanese yen
- British pound
- Indian rupee
- Canadian dollar
- Australian dollar
These ate the various currencies in the Absa multicurrency account in South Africa.
Requirements To Open The Multicurrency Account
We will now show you the requirements to qualify for the Absa multiple urrency account.
Below are some of the requirements to open an Absa multicurrency account in South Africa:
- A valid South African ID or smart card
- An opening balance of at least R1,000
- Proof of residence not older than three months
- Proof of income or bank statements.
This is all you need to know about the Absa multicurrency account in South Africa.
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