Suitable for startups, the Nedbank Startup Bundle Business Account offers new and existing businesses a banking boost. The account offers freebies for the first six months after opening the account. Freebies include:
These free services have some limitations and are available for the first 6 months from the opening of the Startup Bundle Business Account. Most limits are set for the first 20 transactions. However, more details about these free services are available in the Fees table.
After 6 months of using the account, pay as you use rates apply to this account. Note that the account comes with an annual fee for the cheque card and a greenbacks linkage fee.
The Nedbank Startup Bundle Business Account is a cheque account for sole proprietorships and private companies. The Startup Bundle is for businesses with annual revenue of not more than R3,000,000.00. The account is a pay-as-you-use account, therefore, it doesn’t have a fixed monthly service fee. The account fee charged includes a cheque card service fee of R220.00 and a Greenbacks linkage fee of R288.00.
For the first 6 months, the account offers free services that account holders can take advantage of. The account also comes with 20 free digital transactions and free SMS notifications.
Deposits come at a charge. Nedbank ATM and branch deposits cost R7.50 plus R1.80 per R100.00. Electronic deposits are free and unlimited.
|Fee DescriptionFeeAnnual Cheque card service feeR220.00
|Cheque card: Nedbank Greenbacks linkage feeR288.00Account maintenance fee
|Free for the first six months.
|Overdraft facility fee R69.00
|Self-service banking subscription fee
|Cash deposits at a Nedbank ATM or branch
|R7.50 plus R1.80 per R100.00 or part thereof
|Cash deposit at a Nedbank intelligent Depositor ATM
|R3.70 plus R0.90 per R100.00 or part thereof
|Withdrawal at participating retailers till point
|Withdrawal at participating retailers till point and purchase
|Cash withdrawal at a Nedbank ATM
|1st withdrawal for free per month for the first 6 months. Thereafter, R2.10 per R100.00 or part thereof
|Cash withdrawal at a Nedbank branch
|R7.50 plus R1.80 per R100.00 or part thereof. With a minimum of R70.00 in addition to the flat service fee of R150.00
|Withdrawal at another bank’s ATM
|R11.00 plus R2.10 per R100.00 or part thereof
|Cash withdrawals at another bank’s self-service device
|Cash withdrawals at an international ATM
|R55.00 plus R2.10 per R100.00 or part thereof
|Payment at a Nedbank branch to a Nedbank account
|Payment <= R25 000,00: R250,00 Payment > R25 000,00 <= R65 000: 1% of amount with a minimum of R350,00Payment >
R65 000,00: 1% of amount with a minimum of R650,00
|Payment at a Nedbank branch to another bank’s account
|Payment <= R25 000,00: R250,00 Payment > R25 000,00 <= R65 000: 1% of amount with a minimum of R350,00 Payment > R65 000,00: 1% of amount with a minimum of R650,00
|Internal electronic debit order payments
|Free for six months subject to the 20-transaction limit – thereafter R5,00
|Electronic stop order payments
|Free for six months subject to the 20-transaction limit—thereafter R19,00
|External electronic debit order payments.
|Nedbank Startup Bundle Business Account Fees 2021: Free for six months, up to 20 transactions. After that, it costs R19,00.
This account is for owner-managed businesses with an annual turnover of R3 million or less. The account offers a great way to start banking as a small business, with many fees waived in the first 6 months of opening the account.