Absa Bank South Africa

Absa Bank South Africa offers business accounts under the Business Evolve range, with packages sized for enterprises of different scale. The accounts are denominated in South African rand (ZAR).

Packages

The listed account types are Business Evolve Lite and Business Evolve. According to the bank, Evolve Lite is designed for small enterprises with annual turnover of up to ZAR 1.5 million. It includes a Visa debit card, mobile banking and certain free internal transactions. The published monthly fee for Evolve Lite is ZAR 50. Fees for the other package are not given in the available data.

Customers

The offer targets small enterprises and other businesses that want a standard transactional bank account in the local currency. No foreign currency accounts are listed.

Deposit protection

According to the bank's disclosure, eligible deposits are covered by the Corporation for Deposit Insurance (CODI) up to ZAR 100,000. Coverage depends on the depositor and the product, so eligibility should be confirmed.

What to check

Transaction fees, card limits and onboarding documents are not listed here and should be clarified with the bank before choosing a package.