The Absa Student Silver Account is a transactional account designed specifically for full-time undergraduate students pursuing a degree or diploma for at least one academic year. Students pursuing a master’s degree or a full-time honours degree will also benefit from this account. The account includes features that are only available to undergraduates and post-graduates, as well as a low monthly service fee.

Clients are rewarded with free data bundles, food coupons, and Intercity or TravelStart travel vouchers. The Student Silver Account is a bank account for students who want to get into professional banking. Account holders have four years to use this account before being promoted to the Absa Gold Graduate Account, which provides even more privileges and financial services.

Absa Student Silver Account Summary 

Undergraduates and postgraduates between the ages of 18 and 27 can open an Absa Student Silver Account, which is a cheque account. The account has a monthly service cost of R29.00 and a 2.75 percent international transaction fee. For easy transactions, the student silver account offers with 24/7 access to the Absa digital platforms. Clients who conduct at least five debit or credit banking transactions each month, two of which must be prepaid transactions, are eligible for a variety of lifestyle advantages. 

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 2023

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 

• The account doesn’t have an overdraft facility. 
• No access to the Absa rewards program. 

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. 

Conclusion 

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.