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Bank Zero has published its pricing guide for individual and business customers, detailing how much it will cost to use mobile banking services.
Bank Zero noted that it only offers one type of account, explaining that this is because it does not believe in the practice of attracting customers with an entry-level account that has limited functionality.
“Although there have been some changes in the industry to reduce costs for people, the focus has only been on entry-level accounts, and customers are forced to pay more if they want to upgrade to better functionality,” he said. Bank Zero.
“With Bank Zero, the same advanced payment functionality and real-time control are available to all customers.”
He also noted that the exact same pricing structure is offered in individual and commercial banking.
“Businesses still pay too high basic bank fees,” Bank Zero said. “This brings a lot of relief in banking costs to companies.”
He noted that he currently backs all (Pty) Ltd, CC and sole proprietors, with trusts and partnerships to be listed at a later date.
Bank Zero added that it is the first bank in South Africa to charge nothing for both EFT payments and debit orders, and also touted that it is free to open an account, maintain your account, swipe your card, make a transfer and make payments. to other Bank Zero customers.
Bank Zero closed beta goes live
This pricing information follows Bank Zero above narration MyBroadband which had released its closed implementation.
“Bank Zero is active and operates through six payment methods. The closed rollout has begun, ”said Bank Zero co-founder Michael Jordaan.
“Customers (individuals and companies) are being added in this closed launch. It will then be followed by availability to the general public. “
He said that Bank Zero plans to be publicly available before the end of 2020.
Jordaan had previously explained that Bank Zero would select its public beta participants from those who had provided their details on the Bank Zero website.
The full Bank Zero pricing guide is detailed below.
| Bank Zero pricing | |
|---|---|
| Exercise | Price |
| Monthly installment on account | R0 |
| Minimum balance on any account | R0 |
| Notifications on all banking activities | R0 |
| Open more savings or notice accounts | R0 |
| Transfer money between your own accounts | R0 |
| Pay the recipient at another bank | R0 |
| Pay the recipient at Bank Zero | R0 |
| Pay the recipient at Bank Zero using your QR code | R0 |
| Pay by debit order | R0 |
| Pay with card | R0 |
| Buy prepaid data, airtime, electricity, etc. | R0 |
| Send proof of payment by email | R0 |
| Receive monthly statement by email or download | R0 |
| Request previous statements in 3 months | R0 |
| Request account confirmation level | R0 |
| Set up a new business profile | R0 |
| Send money to the Bank Zero recipient using their mobile number (up to R3,000) | R0 |
| SendMoney to self (up to R3,000): cash without card at Checkers, Shoprite, Usave | R8.50 |
| Send money to someone who is not in Bank Zero (maximum R3,000): withdraw money in Checkers, Shoprite, Usave | R8.50 |
| Withdraw cash at ATMs | R9 for R1,000 |
| Withdraw cash at the point of sale (Pick n Pay, Spar, Checkers, Shoprite) | R2 |
| Balance check at point of sale or ATM | R2 |
| Hassle charges: insufficient funds, exceeding card limits, card set to lock or ATM turned off, locked after 3 wrong pins, use new card before activation, use old card without canceling | R2 |
| Customization of cards with delivery to a Clicks store | R79 |
| Customization of cards with home delivery (main / regional) | R139 / R179 |
| Send proof of payment by SMS | R1.50 |
| Open an additional checking account in profile | R100 |
| Request statements of more than 3 months | R10 per account statement |
| Receive money through a Bank Zero QR code | 0.5% of the amount |
| Dispute or stop debit order | R8 |
| Dispute card transaction (i.e. chargeback) | R30 |
| No checking account transactions for more than 6 months | R5 per month |
Now read: Bank Zero is now available
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