Absa Student Silver Account Review 2021

Published by
Lethabo Ntsoane

Absa Student Silver Account is a transactional account tailored to suit the requirements of full-time undergraduate students studying towards a degree or diploma for at least a full academic year. The account is also suitable for students studying towards their master’s degree or a full-time honours degree. 

The account comes with benefits that are unique to undergraduates and post-graduate and also charges a low monthly service fee. Clients get rewards that include free data bundles, food vouchers and travel vouchers from Intercity or TravelStart. 

The Student Silver Account is an account that students use to start banking professionally. Account-holders get to use this account for four years and then after are upgraded to the Absa Gold Graduate Account which offers even better benefits and banking services. 

Absa Student Silver Account Summary

Absa Student Silver Account is a cheque account for undergraduates and postgraduates between the age of 18 to 27 years. The account comes with a monthly service fee of R29.00 with an international transaction fee of 2.75%. The student silver account comes with 24/7 access to the Absa digital platforms for seamless transactions. 

Clients can qualify for a number of lifestyle benefits if they complete at least five debit or credit banking transactions per month of which at least two must be prepaid transactions. Lifestyle benefits include:

  • R25.00 food voucher to be redeemed at Steers, Nando’s, Wimpy, Burger King or Debonairs.
  • Free 100MB data bundles.
  • Up to 30% discount on a membership at selected gyms.
  • R150.00 travel voucher from Intercity or TravelStart.

The Absa Student Silver Account has some of the best transactional benefits and arguably the savviest bank account from Absa. Unlimited services include NotifyMe SMS, electronic payments, ATM balance enquiry, ATM cash deposits, internal electronic fund transfers, CashSend withdrawals, and card swipes. 

Absa Student Silver Account Benefits

  1. The account charges a low monthly service fee of R29.00 per month.
  2. The account doesn’t require a minimum income except that you must be doing a bachelor’s degree, diploma, honours degree or master’s degree.
  3. Clients get free food vouchers that they redeem at participating food outlets.
  4. The account comes with unlimited Absa ATM cash deposits and withdrawals.
  5. Clients can get up to 30% discount on a gym membership at selected gyms.
  6. Comes with unlimited internal electronic funds transfers.
  7. Comes with unlimited card swipes and cash withdrawals.
  8. Clients get free data bundles every month if they make five debit or credit transacts.
  9. Comes with unlimited Absa ATM balance enquiry and mini statements.
  10. Comes with unlimited access to Absa Bank digital platforms that can be used 24/7 to make transactions and perform other banking functions.
  11. There is a travel voucher that can be claimed from Intercity or TravelStart when you make 5 debit or credit banking transactions.
  12. Clients get unlimited NotifyMe SMS and email notifications whenever a transaction is performed.
  13. Comes with unlimited electronic payments including debit and stop orders.

Absa Student Silver Account Fees 2021

#Fee descriptionAmount
1Monthly service feeR29.00
2Absa ATM cash withdrawals Free
3Absa ATM cash depositsFree
4CashSend at an Absa ATM Free
5Absa ATM balance enquiries and mini statements Free
6Electronic funds transfersFree
7Electronic account paymentsFree
8Local Point of sale purchasesFree
9Local point of sale cash withdrawals Free
10Debit orders and stop ordersFree
11Cash withdrawals at an Absa branch R75.00 + R2.10 per R100.00
12Cash deposit at an Absa branchR60.00
13Overseas Point of Sale purchasesR4.00
14Overseas point of sale cash withdrawals R75.00
15Immediate interbank payments online, mobileR65.00
16Immediate interbank payments telephone adviser-assistedR72.00
17Special clearance R200.00
18Debit card replacement feeR140.00
19Stop payments at an Absa branchR75.00
20Stop payments onlineR32.00
21Debit card delivery feeFree
22Full statement at an Absa branch R32.00
23Stamped statements at an Absa ATM R16.00
Absa Student Silver Account Fees and Rates

Competitive Advantages of the Absa Student Silver Account

  • Comes with a free travel voucher when you make a certain number of transactions.
  • The account has a low monthly service fee.
  • There are many unlimited services.
  • Account-holders receive free food vouchers if they transact for a certain number of times.
  • There are free data bundles that can be claimed every month.
  • Free access to Absa digital platforms for convenient banking.
  • Easy application process. The application can be done online in just minutes.
  • Access to loans that can be used to purchase textbooks or finance your education.

Competitive Disadvantages of the Absa Student Silver Account

How to qualify for the Account

  1. Applicants must be at least 18 years old and not be over the age of 27 at the time of application.
  2. Must be a full-time student studying towards an undergraduate or postgraduate degree, or qualification of one year or more.
  3. Must have a South African ID book or Smart card or a valid passport if you are not a South African citizen.
  4. Proof of residence not older than 3 months at the time of application.
  5. Proof of registration at a tertiary institution on their letterhead indicating your name and surname, address and signature of a mandated official.


The Absa Student Silver Account offers a smart way to start banking as a young professional and comes with many benefits at no extra charge. The account is affordable especially if one performs transactions electronically. Transactions at an Absa branch should be avoided as they come with extra charge and sometimes unbearable. 

The Student Silver debit card can be used to make purchases or withdraw money for free. So making use of the Student Silver debit card can save you money especially when you use the card at an Absa ATM. Using the Student Silver debit card at other banks’ ATMs will cost you, therefore, one should avoid doing so. 

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