Absa Islamic Business Evolve Zero Account 2021

Published by
Lethabo Ntsoane

The Absa Islamic Business Evolve Zero Account is a Shari’ah compliant cheque account for sole proprietors. The account was first introduced in 2020 due to the effects of Covid-19 on owner based businesses as they were affected the most. 

Sole proprietors are important in the South African economy but are however are the least catered for in the banking sector. Thus Absa Bank came up with the Absa Islamic Business Evolve Zero Account along with the Absa Business Evolve Zero Account to address some of the concerns sole proprietorships encounter. 

To assist with the financial needs of sole traders the Absa on this account cut off the monthly service fee completely and added other value-added benefits to help sole proprietors meet their partial compliance objectives. 

The Islamic Business Evolve Zero Account offers free quoting and invoicing platforms that sole proprietors can take advantage of. Not only does the account offer quoting and invoicing platforms, but the account also offers a full payroll feature and VAT report generation system. 

Absa Islamic Business Evolve Zero Account Summary

The Absa Islamic Business Evolve Zero Account is a Shari’ah compliant business cheque account that uses a tier system for transaction purposes. The account has a monthly service fee of R0.00. To qualify for the Islamic Business Evolve Zero Account, clients must be a sole proprietor and earn an annual turnover of less than R5,000,000.00.

The Islamic Business Evolve Zero Account uses a tier system for transactional billing purposes with the main billing categories being payments, immediate payments, debit orders, and debit card purchases. The tiering system is progressive since the cost of transacting increases per tier. 

By virtue of having this account, clients get to have access to a dedicated service desk. The team of bankers are there to help sole proprietors with their daily banking needs. 

Absa Islamic Business Evolve Zero Account Benefits

  1. The account doesn’t have a monthly service fee attached to it.
  2. There is no subscription fee to the Absa digital platforms.
  3. The account houses a tiered pricing system for transactions so it is easy to anticipate costs.
  4. The account number that is used for this account will be maintained regardless of whether the sole proprietor migrates to another account type within Absa.
  5. Clients get a Visa debit card that assists with the day to day cash withdrawals, cash-free payments and purchases.
  6. Comes with an option to get secondary debit cards and personalised card options are also available.
  7. Access to the self-service portal, Absa ATMs, Absa supported ATMs and Absa branch networks.
  8. The sole proprietorship gets access to the cashflow manager at no additional monthly management fee.
  9. The account has zero fees on Absa inter-account transfers and Absa to Absa internal debit orders.
  10. Access to cash handling services.
  11. Can view statements online or can choose your bank statement to be delivered via email at no cost.

Absa Islamic Business Evolve Zero Account Fees 2021

#Fee description Fee per transaction
1Monthly Administration FeeR0.00
2Payments of first 5 transactionsR1. 45
3Payments of 6 – 10 transactions R2.50
4Immediate payments to first 5 transactions R8.00
5Payments of 11 – 190 transactions R10.00
6Payments of 190 plus transactions R15.00
7Immediate payment of over 5 transactions R49.00
8First 5 debit order transactions R3.50
9Debit orders between 6 – 10 transactions R6.00
10Debit orders between 11 – 15 transactions R19.00
11Card purchases for the first 10 transactionsFree
12Card purchases between 11 – 30 transactions R4.20
13Debit orders of more than 15 transactions R25.00
14Card purchases between 31 – 80 transactions R6.00
15Over 80 card purchases R10.00
16Internal account transfersFree
17Internal debit ordersFree
18Digital banking subscription Free
19Cashflow manager offeringFree
20Visa debit card feeFree
Absa Islamic Business Zero Account Fees and Rates 2021

Competitive Advantages of the Absa Islamic Business Evolve Zero Account

  • The monthly service fee is R0.00 per month.
  • Transactional costs are tiered up. It can be easy to estimate the transactional charges when costs are tiered up.
  • Free access to the Absa digital platforms.
  • Cashflow management services are for free.
  • Clients get access to a service desk.

Competitive Disadvantages of the Absa Islamic Business Evolve Zero Account

  • No access to the Absa Rewards Program.
  • The more transactions one makes the more transaction fee they will pay.

Account Requirements

  1. Must be a Sole proprietor.
  2. Have an annual turnover of up to R5,000,000.00 per annum.
  3. ID Copies of the business owners.
  4. Proof of address not older than 3 months for the owner of the business.
  5. Proof of physical address of the business or an Affidavit


The Islamic Business Evolve Zero Account offers the best value for money for sole proprietorships. With this account, sole proprietors can now perform banking transactions and also get value-added services for free.

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