10 Best Cheque Bank Accounts in South Africa 2021

Posted on Sep 20, 2021 by Staff Writer

Rateweb | South Africa


Rethabile Sithole the head financial advisor at Radius Checking reckons that “Having the best cheque account means getting low fees, free ATM usage and best customer support. Even better when you receive interest on your account”

It is no easy task to identify a great cheque account let alone in a country with so many banks offering many cheques accounts for different clients.

Rateweb analysed cheque accounts using Rethabile’s definition of the best cheque account. However, we have added technological friendliness of the issuing bank and overall competence of employees.

Our top excludes cheque accounts for high net clients. This is because these accounts have a high advantage when it comes to customer service, client relations and interest.

Our focus is only on first-tier cheque accounts from all the 5 big banks. Special examination on Discovery bank cheque, Investec, Old mutual and Postbank accounts was performed.

Here are the top 10 cheque Bank Accounts in South Africa for the year of 2021:

1. FNB Easy account

The FNB Easy Account is a great cheque account to have and thanks to complementary technology services from FNB it has high efficiency. The account comes in 2 options an easy smart option billing R59 pm and pay-as-you-use account billing R4.95 pm.

Both account choices vary in transactional billing. With Easy smart account, you get free card swipes, up to 10 free online transactions and other cost savings features.

While with the Pay-as-you-use option you incur changes for every transaction. But, there are other free features such as cell phone banking, mini statements, card purchases and balance enquiry.

2. Standard bank’s Access Account

Standard bank access acount

Access account is a day to day usage bank account with low monthly fees from Standard bank. This cheque account requires no income and anyone can apply for it. The account comes with a R5.80 monthly fee.

You get access to instant money, prepaid top-up and till withdrawal. All these services come free of charge.

Benefits include UCount rewards and R25 airtime or 250mb data for free every month from Standard bank mobile. However, there is no overdraft facility on this card, maybe its because there is no minimum income requirement on the account.

3. Old Mutual Money Account

Old mutual money account

Money Account is a two in one account for cheques and savings. Yes, you get both with the Money account. Money account charges R40.40 per 12 transactions according to Union Solidarity. Union Solidarity considers the money account as the 8th best bank account in South Africa in terms of savings.

The card comes with free swipes, access to savings at any time, secure purchases, online and mobile banking. You only pay an administration fee of R4.95 per month.

4. Discovery bank Gold cheque account

Discovery bank gold cheque account

Qualifying as one of the best cheque accounts in South Africa, Discovery Gold account comes with low fees and extended benefits.

As a Discovery Gold cardholder, you get to be a member of the Vitality Money premium and also add a single credit facility. Vitality Money and single credit facility come at a cost. With a monthly fee of R5 and R30 respectively.

The Discovery Gold account charges R5 monthly fee. You also receive free benefits such as local and international point of sale swipes, declined transactions, returned debit orders, ATM enquiry, inter-account transfers and deposits at pick n pay.

5. Absa transact debit

Absa transact account

This cheque account is for those that earn below R3000.00 or don’t earn any income. The account offer is affordable and basic and can meet low-income earner’s banking needs.

You can borrow, use mobile banking or the app. You can do internet banking, buy prepaid and send cash online.

A minimum balance of R20.00 has to be kept on the account. The account monthly fee is set at R4.90. You get free balance enquiries, card swipes and SMS or email notification.

6. Capitec bank Global One account

Capitec bank global one account

The Capitec Bank’s Global One account is one of the cheapest transacting accounts on our list. Global One has bank charges at R13.33 per month for every 12 transactions. This cheque account is a pay as you use account and you are billed as you transact.

You get access to mobile, internet and app banking. The card transacts online but doesn’t use OTP instead it uses a remote pin to transact online. You get free at till withdrawals and point of sale purchases.

7. Nedbank Ke Yona Bundle Account

Ke Yona bundle account

This cheque account is for clients who want to benefit from a fixed monthly fee. The account comes with unlimited transactions and other added benefits that come for free.

You get free usage of the technology that Nedbank offers. You can access the mobile app, mobile and internet banking. The monthly fee on the account is R49.00, which is perfect for someone that uses their account often.

8. TymeBank Everyday Account

Tymebank debit card

This is a no-fee cheque account for day to day use. There is no monthly fee on the account meaning if you don’t use or use the account you pay R0. You get free banking transactions and online shopping.

The Tyme bank account can be opened in 5 minutes or less. Check out our article on TymeBank and get some more information before you begin your application.

9. Nedbank pay-as-you-use-account

Nedbank pay as you use account

This cheque account has zero and free benefits that one can benefit from. There are zero maintenance fee, card swipes, debit and stop orders and annual fees. Free benefits include free access to Nedbank money app and balance enquiries on self-service channels.

Anyone from the age of 16 qualifies for this account. Non-South African residents can apply for this account at an additional fee of R35.00.

10. FNB Gold Cheque Bundle

Fnb gold cheque account

Gold cheque account comes with free 120mb, 60min voice bundle and 60 free SMSs. Free minutes only apply to local calls. Added are free withdrawals and deposits, access to a savings account, rewards and credit option.

The monthly maintenance fee on the account is R109.00 per month. Although the fees are kind of hefty for a Gold account, the services and technology from FNB put this account high above many.


South African banks offer competitive cheque account packages and it is great to witness such. With the growth of technology, one cannot ignore the fact that low monthly fees cannot be a sole determinant of a great account.

Also, with the presence of technology in most spheres of banking, telephone service from banks needs to be up to standard.

You can now put more thought when choosing a cheque account and familiarise yourself with modern banking technology.


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