Absa Evolve Pay As You Transact Business Account Review 2021

Published by
Lethabo Ntsoane

The Absa Evolve Pay as You Transact business account is a transactional account that uses a 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 that 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 SMME. 

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 cashflow manager at no additional cost. These benefits are there to enhance SMMEs performance financially and otherwise. 

Absa Evolve Pay As You Transact Business Account Summary

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. There are free subscriptions and services that come with the account that includes liquidity plus investment account, Visa debit card and the Absa banking App. 

Absa Evolve Pay As You Transact Business Account Benefits

  1. The account has zero fees on Absa inter-account transfers.
  2. The account has zero fees on Absa to Absa debit orders.
  3. Clients get one account number for life, meaning should they want to upgrade or degrade their business account they will always use the same account number.
  4. Comes with a Visa Debit Card that will assist in making day to day cash withdrawals, cash-free payments and purchases both instore and online.
  5. Can open multiple accounts per entity and manage them on one profile.
  6. Your business can get secondary debit cards and personalisation options are available.
  7. The account gives clients access to a cashflow manager at no additional cost.
  8. Access to the Absa self-service portal, Absa ATMs, Absa supported ATMs and Absa branch networks.
  9. Comes with an optional liquidity investment plus account that allows clients to invest or save money.
  10. Businesses get access to a cash handling service.
  11. Can view statements online or opt for them to be sent to your business email address every month.
  12. Has a regressive tier pricing which saves account holders money for additional transactions made.

Absa Evolve Pay As You Transact Fees 2021

#Fee descriptionFee per transaction
1Monthly administration feeR85.00
2Payments of first 30 transactionsR10.00
3Payments of 31 – 70 transactions R9.15
4Immediate payments of the first 20 transactions R49.00
5Payments of 71 – 210 transactions R8.75
6Payments of 210 plus transactions R6.00
7Immediate payment of over 5 transactions R48.00
8First 10 debit order transactions R19.75
9Debit orders between 11 – 20 transactions R18.00
10Debit orders between 21 – 35 transactions R16.00
11Card purchases for the first 20 transactionsR4.35
12Card purchases between 21 – 40 transactions R4.00
13Debit orders of more than 35 transactions R11.50
14Card purchases between 41 – 90 transactions R3.70
15Over 90 card purchases R3.00
16Internal account transfersFree
17Internal debit ordersFree
18Digital banking subscription Free
19Cashflow manager offeringFree
Absa Islamic Evolve Pay As You Transact Fees and Rates 2021

Competitive Advantages of the Absa Evolve Pay As You Transact Business Account

  • Comes with free access to the Absa digital platforms.
  • Can transact 24/7 anywhere using the Absa Banking App.
  • The account has a cashflow manager who is there to advise with the cash flow needs of the company.
  • Has an option to choose an Islamic bank account.
  • The account has a low monthly account fee.
  • Has a regressive tiered system which allows saving on transaction fees for any additional transaction.
  • Comes with access to a team of bankers who are there to take care of your business daily banking needs.
  • Can open liquidity plus account.
  • The visa debit card comes for free.

Competitive Disadvantages of the Absa Evolve Pay As You Transact Business Account

  • No access to the Absa Rewards Program. There are no rewards when the business makes transactions or make purchases.

Business Account Requirements

  1. Any registered business entity or sole proprietorship or anybody who wants to be registered as a private company.
  2. Have an annual turnover of R500,000,000.00 or less.
  3. Copy of ID of directors or business owners
  4. Proof of residence for directors, or individual owner, or business member.
  5. Proof of physical address of the business. Sole proprietors can get an Affidavit.
  6. Business bank statements for the last three months.
  7. Business members/ owner must submit three months bank account statements on a personal account.
  8. Company registration documents for registered companies.
  9. Company resolution where applicable.


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.

Lethabo Ntsoane

Lethabo Ntsoane holds a Bachelors Degree in Accounting from the University of South Africa. He is a Financial Product commentator at Rateweb. He is an expect financial product analyst with years of experience in reviewing products and offering commentary. Lethabo majors in financial news, reviews and financial tips. He can be contacted at

Published by
Lethabo Ntsoane
Tags: ABSA