The Absa Gold Graduate Account is a cheque account for students enrolled in higher institutions who are in their final year of study or have completed their three-year degree or diploma. The account can be utilized for a maximum of 36 months or three years prior to being upgraded to the Absa Gold Value Bundle Account. This account features particular perks tailored to the needs of graduate or final-year students. Before you get your first income, the Absa Gold Graduate Account provides you with access to an overdraft and credit facility.
The Absa Gold Graduate Account is a first-tier cheque account for final-year tertiary students and recently graduated individuals. It costs R54.50 a month and account holders receive discounts of up to 30% through rewards lite. If you maintain a balance of R30,000.00 or more in your account, you receive a 50% discount on the monthly cost. Unlimited card purchases, account payments, electronic inquiries, overseas debit orders, and stop orders are included with the Gold Graduate Account. You will receive a free deposit of up to R4,500.00 per month and will then be charged R2.00 per R100.00 at Absa ATMs and R60.00 + R2.00 every R100.00 at any Absa branch.
Fee description | Amount |
---|---|
Monthly service fee | R54.50 |
50% discount on monthly service fee if you maintain a balance of R30,000.00 | R27.25 |
Cash deposits: Absa ATM, cash acceptor | Up to R4,500.00 |
Debit card purchases: debit card purchases, point of sale | Up to R4,500.00 |
Out of bundle cash deposit at Absa ATM & cash acceptor | R2.00 per R100.00 |
Out of bundle cash deposit at Absa branch | R60.00 +R2.00 per R100 |
Cash withdrawals at Absa ATM : Out of Bundle | R2.00 per R100.00 |
Cash withdrawals at Absa Branch: Out of Bundle | R75.00 +R2.00 per R100.00 |
Overseas ATM/POS OUT OF BUNDLE fee | R75.00 |
Debit card purchases | Free |
Point of sale cash withdrawals | Free |
External debit orders | Free |
Accounts payments via Absa ATM, online and mobile | Free |
Inter account transfers | Free |
Stop orders | Free |
International debit orders | Free |
Cheque issued fee | R200.00 |
Cash send | R2.00 per R100.00 |
Special clearance fee | R200.00 |
Debit card replacement fee | R140.00 |
Declined fee | R200.00 |
Notifications | Free |
The Absa Gold Graduate Account is an excellent method for a young professional to begin banking, as it comes with numerous incentives. The lifestyle benefits of the account and access to professional advisors can assist a new account holder in banking more effectively and saving money. Absa is sensitive since it recognizes that beginning a profession can be stressful and financially draining due to the lower pay at this period. The unrestricted services accessible on this account allow for stress-free banking. Additionally, the account has a minimal monthly service charge that practically any graduate or soon-to-be graduate can pay.