The Absa Evolve Pay as You Transact business account is a transactional account that uses regressive transaction billing. The account can be used efficiently by companies that make numerous transactions every month. Businesses that transact more tend to benefit more by saving on transaction fees with this account.
The account uses a tier system for billing purposes. Tiers include those for payments; immediate payments; debit order payments; and debit card purchases. Each tier has its own transactional benefits, with each tier using a regressive transactional billing system.
The Absa Evolve Pay As You Transact Business Account comes at a cost, unlike its sister account, the Absa Evolve Zero Account. Compared to the Evolve Zero Account, the Evolve Pay As You Transact Business Account offers more value when it comes to transactions and cost per transaction. However, the Evolve Pay As You Transact account is designed for registered companies and SMMEs.
The Evolve Pay As You Transact Business Account comes with a service desk and a business can open an investment account to manage liquid cash. Moreover, the account comes with a cash flow manager at no additional cost. These benefits are there to enhance SMMEs’ performance financially and otherwise.
The Absa Pay As You Transact Business Account is a business cheque account that uses tiered pricing on electronic transactions. The account has a monthly account fee of R85.00 and comes with free 24/7 access to the Absa digital platforms. To qualify for this product, a business needs to have a revenue of R500,000,000.00 or less per annum.
The Pay As You Transact Business Account comes with unlimited services. These services include unlimited inter-account transfers and unlimited Absa to Absa debit orders. The account includes free subscriptions and services such as liquidity plus investment account, a Visa debit card, and the Absa banking App.
| # | Fee description | Fee per transaction |
|---|---|---|
| 1 | Monthly administration fee | R85.00 |
| 2 | Payments of first 30 transactions | R10.00 |
| 3 | Payments of 31 – 70 transactions | R9.15 |
| 4 | Immediate payments of the first 20 transactions | R49.00 |
| 5 | Payments of 71 – 210 transactions | R8.75 |
| 6 | Payments of 210 plus transactions | R6.00 |
| 7 | Immediate payment of over 5 transactions | R48.00 |
| 8 | First 10 debit order transactions | R19.75 |
| 9 | Debit orders between 11 – 20 transactions | R18.00 |
| 10 | Debit orders between 21 – 35 transactions | R16.00 |
| 11 | Card purchases for the first 20 transactions | R4.35 |
| 12 | Card purchases between 21 – 40 transactions | R4.00 |
| 13 | Debit orders of more than 35 transactions | R11.50 |
| 14 | Card purchases between 41 – 90 transactions | R3.70 |
| 15 | Over 90 card purchases | R3.00 |
| 16 | Internal account transfers | Free |
| 17 | Internal debit orders | Free |
| 18 | Digital banking subscription | Free |
| 19 | Cashflow manager offering | Free |
The Absa Evolve Pay As You Transact Business Account offers a better way to transact for small businesses. The account’s value-added services make it even better for small businesses to partially comply.
