Current Accounts

• No minimum monthly income required
• Monthly fee of R 4,75
• Bank in branch or using the internet
• An initial bank card is issued at no fee
• No opening balance or minimum balance required
• No rewards offered
• Click here for more details

The Absa transact account offers a simple and affordable way to bank, providing all your basic banking needs but without the unwanted extras. This account is a perfect choice for those who don't have a regular or fixed income. Although no rewards are earned using this account, you will also benefit from having to hold no minimum daily or opening balance to open or keep the account open. The account offers a transparent pricing policy, with transactions being charged on a pay-as-you-transact basis making it even easier to understand. One feature from the account that is missing is the ability to bank online, but it does however still allow full banking facilities via your cellphone and telephone for added convenience and peace of mind.

• No minimum monthly income required
• No monthly fee
• Bank in branch or using the internet
• No minimum income required
• A pay as you use pricing structure
• Free SMS and cell phone Banking
• Click here for more details

The Nedbank Ke Yona pay-as-you-use account is the perfect choice for those who are just starting out and who have never had an account before. The account offers a simple and easy to understand set of fees with no added monthly account fee. Nedbank customers also receive free SMS and cell phone banking included in the monthly fee. To encourage you to save, Nedbank also provide the option for individuals to open a JustSave account. For as little as R50 to open the account, with a debit order set up from their account on a monthly basis, Nedbank will also deposit R2 to help your savings grow. This entry level account allows customers to take full control of their banking needs.

• Minimum monthly income of R 3 000,00
• Monthly fee of R 98,00
• Bank in branch or using the internet
• Compliant with Shari'ah Law
• 24 hour internet, phone and cell banking
• No rewards
• Click here for more details

Absa was one of the the first in the world to market a Sharia-compliant product launching its Islamic banking brand back in 2006. The account has been fully designed to comply with Shari'ah Law removing any payment of interest and making transactions and fees transparent to all account holders. The account conveniently allows you to manage your everyday banking needs including 24 hour access to internet, telephone and cell banking. Successful applicants can even earn cash back for signing up for extra products.

• Minimum monthly income of R 25 000,00
• Monthly fee of R 159,00
• Bank in branch or using the internet
• Account support from a team of financial experts
• Access to exclusive credit options
• Higher transactional fees
• Click here for more details

As like other Absa current accounts the management fee is only R40 per month (Pay-As-You-Transact) but the Platinum account does require a higher income of R25 000. Compared to other lenders offering similar accounts, Absa has fallen behind in terms of customer satisfaction due to their higher transactional fees for day to day banking. Although there's not a great difference in the accounts offered by Absa, the Platinum stands out for its expert financial assistance offering its clients guidance and support including a Priority Banker and Financial Advisor. The Platinum account attracts those who want to get more out of their money but with a tailored service.

• Minimum monthly income of R 8 000,00
• Monthly fee of R 40,00
• Bank in branch or using the internet
• Access to home loans and overdraft facilities
• Financial planning and a selection of investment solutions
• No rewards of cashback offer
• Click here for more details

Absa, South Africa’s largest retail bank has a number of current accounts to choose from offering something for everyone. The Gold Current Account is an all-in-one facility designed to cater for your growing financial needs, with preferential overdraft and loan rates and offers a great way to secure further finance such as a home loan or car finance. As like most Absa current accounts the Gold Account allows you to bank when it suits you whether it be online, via your telephone or cellphone banking. But according to The South African Customer Satisfaction Index (SAcsi) Absa didn't fair too favourably with its customer service, coming out lowest of the top five banks. Its use of online facilities allows you complete control of your finances, so if you don't need to contact the bank much, the Gold Current Account would prove a good choice for those wishing to invest in their future.

• Minimum monthly income of R 8 000,00
• Monthly fee of R 95,00
• Bank in branch or using the internet
• Credit card offer to accompany the account
• Access to second Elite Account at a discounted fee
• Expensive fees compared to similar accounts
• Click here for more details

While other banks have looked to reduce or remove their fees, Standard Bank has remained the same, offering one of the most expensive accounts on the market with account fees more than double of its competitors. Applicants must also earn above R8000 unless you are a graduate where you could qualify if earning above R5 000 per month. The account holder will be granted a credit card and also have access to an overdraft facility, but unlike other accounts offered, Standard Bank will allow you to open up a second account for your spouse or partner at a discounted rate, potentially making this better value for money if both of you are looking to open up a new current account with this bank.

• Minimum monthly income of R 25 000,00
• Monthly fee of R 179,00
• Bank in branch or using the internet
• Overdraft facility at a preferential interest rate
• Access to second Prestige Account at a discounted rate
• Option to apply for the Diners Club Card
• Click here for more details

While being described as a premium bank account it is easy to see why. The Standard Prestige account offers a tailored service to suit your banking needs 24/7. You will be assigned a dedicated Prestige Banker who will be available on an appointment based consultation at your local branch and you will even have access to highly-skilled Prestige Line consultants to help provide you with further advice and guidance on any personal financial planning and investment matters you may have. As like the Standard Elite account the applicant will have the option to apply for a secondary account for their partner or spouse and will receive both a Titanium cheque and credit card with the option to apply for the Diners Club card to earn those all-important rewards.

• Minimum monthly income of R 200,00
• No monthly fee
• Bank in branch or using the internet
• Low interest rates on student loans
• Free internet and cell phone banking subscriptions
• No monthly management fee
• Click here for more details

The Student Achiever account is both convenient and affordable allowing you to bank anywhere at any time. By being a student we understand that money might be tight, so we feel the Student Achiever account is the perfect choice. It comes with no monthly management fees, 50% discount on your Travel Wallet card and lower interest rates on student loans. If accepted, Standard Bank also offers access to the Student Achiever Portal which provides advice and information regarding your future career options. A nice personal touch to the account.

• Minimum monthly income of R 30 000,00
• Monthly fee of R 199,00
• Bank in branch or using the internet
• Get up to 15% back in eBucks
• Free comprehensive global travel insurance
• Access for further credit products to suit your needs
• Click here for more details

The Premier Cheque account is perfect for big spenders and frequent travellers alike with eBucks rewards earned on both airtime and fuel purchases. Earn up to 15% back in eBucks when you shop at Checkers & Shoprite. Although the Premier account comes with one of the highest monthly fees, you will receive extra travel bonuses such as exclusive access to SLOW Domestic and SLOW International Lounges and free comprehensive global travel insurance. Depending on your spending levels and if managed well you could potentially earn enough eBucks to cover your monthly banking fees which would make this a great value rewards account.

• Minimum monthly income of R 9 000,00
• Monthly fee of R 100,00
• Bank in branch or using the internet
• Get up to 1.5% back in eBucks on online shopping
• Access to further credit products to suit your needs
• Free subscription to phone and online banking
• Click here for more details

The FNB Gold Cheque account is one of the most popular on the market at present. The banks customer services came out on top with the highest number of satisfied customer's. With over 1.5m regular online banking users, FNB were one of the first to offer its banking services on both smartphones and tablet computer's. The site has had a recent makeover offering a slick minimalistic approach allowing customer's full use of its services wherever they are. As like all FNB accounts they come with eBucks rewards incentives, but the Gold Cheque Account provides an extra 1.5% back in eBucks rewards for online and internationally shopping. No other bank at present offers a reward scheme as good as FNB, so if you fit the annual earnings criteria, this is the card for you.

• No minimum monthly income required
• Monthly fee of R 17,50
• Bank in branch or using the internet
• Unlimited debit card point-of-sale purchases
• 24 hour internet, phone and cell banking
• Cheaper banking fees while you study
• Click here for more details

South Africa's largest retail bank, Absa was the first of its kind to offer a student based chequing account. The account gives you reduced banking fees, unlimited electronic transfers for a low fixed monthly fee and you will even have access to your money 24/7 via the internet, your cellphone or telephone. To qualify for the account you will need to provide proof of enrolment at your institution and be a full time registered student. With all the usual account basics that you would expect and more, the monthly fee of R17,50 is excellent value for any student looking to open a new account that would suit their lifestyle.