The Absa Business Evolve Grow Account is a business cheque account designed for companies and businesses with annual revenues ranging from R0.00 to R500,000,000. This account comes with a monthly fee of R420.00, and it offers various benefits to account holders. Below is an overview of the account’s features, benefits, and costs:
The account has a monthly fee of R420.00, which comes with 100 free monthly transactions. Account holders also get 15 free ATM cash deposits and/or withdrawals limited to R100,000.00 per month.
Out-of-bundle services and transactions attract fees, such as R64.00 per transaction for cash deposits at an Absa branch and R42.00 per transaction for cash deposits at the cash center. However, online cash deposits are free of charge. Withdrawals made outside the bundle incur a fee per transaction, with branch withdrawals costing R75.00 per transaction, plus R2.60 for every R100.00 withdrawn. Absa ATM withdrawals are less expensive and incur a fee of R2.40 per R100.00 withdrawn.
In addition to the above features, Absa provides other services, such as card replacement, which is charged at R150.00 per card replaced.
The Absa Business Evolve Grow Account has several benefits that come free of charge, including the ability to submit applications online, eliminating the need to visit an Absa branch. Businesses with an annual turnover of up to R500 million can apply for the account.
In addition to the cheque account, account holders can open a liquidity plus investment account to invest some of their monthly earnings. The funds invested in a liquidity plus account are available whenever they are needed, with no waiting period.
The account includes a cashflow manager that allows businesses to track their cashflow in real-time at no extra cost. Furthermore, account holders can open multiple business accounts, but each additional account will incur a monthly fee. Secondary cards per account can also be issued and personalized to the account holder’s specifications.
Fee Description | Amount |
Monthly Account Fee | R420.00 |
Payments | 100 transactions per month |
ATM cash withdrawals and cash deposits | 15 transactions or R1000,000.00 per month whichever occurs first |
Immediate interbank payments | 2 per month |
Out of bundle charges | |
Cash deposit at a branch fee | R64.00 |
Cash deposit through cash center fee | R42.00 |
Cardless cash deposit fee | Free |
Cash deposit online | Free |
Withdrawals at a branch fee | R75.00 + R2.60 per R100.00 |
Cash withdrawal through cash center | R75.00 + R2.60 per R100.00 |
Absa ATM cash withdrawal fee | R2.40 per R100.00 |
Point of sale cash withdrawal fee | R4.85 |
Saswitch ATM withdrawal fee | R12.00 + R2.40 per R100.00 |
Overseas ATM withdrawal fee | R85.00 |
Absa ATM prepaid top up fee | R1.60 |
SASWITCH ATM prepaid top up fee | R12.00 |
Point of sale transaction fee – local | R4.35 |
Overseas POS transaction fee | R4.35 |
Account verification fee online | R8.00 |
Account verification at an Absa branch | R28.00 |
Funds transfer at an Absa ATM | Free |
Branch counter funds transfer | R125.00 |
Funds transfer Cash Send at Absa ATM | R2.40 per R100.00 |
Balance enquiry at a branch | R10.00 |
The Absa Business Evolve Grow Account offers several advantages to account holders, including:
While the account offers many benefits, there are also some disadvantages to consider, including:
To apply for the Absa Business Evolve Grow Account, applicants must:
The Absa Business Evolve Grow Account is an excellent option for businesses that require a high volume of monthly transactions, with up to 100 free transactions per month. However, businesses with fewer transactions may find the account to be expensive. Those looking for an alternative business account may consider the Absa Business Evolve Ignite Account, which is ideal for companies with a low monthly transaction rate.
This website uses cookies.