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ABSA Bank

ABSA Bank

 

Absa bank is one of the largest banks in South Africa that caters to the personal, corporate as well as commercial customers in South Africa.

  • It offers a variety of banking services right from the basic banking products to the low income group people to the wealthy products and services to the elite.
  • This bank was formed because of the amalgamation of Volkskas group and the USB holdings in the year 1991.
  • Today the Absa bank is listed on the JSE listings and is proud to be the largest financial services provided in South Africa.
  • The bank has assets worth R754 billion, 112 million customers, 9214 automated teller machines and and around 36,000 employees working in the bank.
  • The bank has also created an international presence by opening branches in the United States of America(USA), UK, Asia, Europe and Africa.
  • The strategy of the bank is to enhance the competitiveness of baas and also be the leader in retail banking market.
  • It maintains a cordial relation with all its customers, stakeholders, employees, community, government and the public at large.
  • ABSA also provides a variety of loans such as student loans, education loans, personal loans and home loans to its customers.

ABSA bank Internet Banking

ABSA bank Internet banking is an online banking facility provided by the ABSA bank, which facilitates online transactions. By using the online banking facility provided by Absa Bank, a customer can turn his office or home computer into a personal finance management system. Besides providing the facility of 24 X 7 access to your bank account and transactions to be made in and through your account, the Absa Bank internet banking system will allow a customer to buy prepaid time (the feature that allows a customer to add topup to his Absa Debit Card during any time of the day to use it for making payments) and transfer money by using Western Union or CashSend. CashSend is a unique system that allows a user to send cash online to any person within the boundaries of the country where he is staying. This facility is applicable even if the recipient does not have an Absa Bank account.

The various facilities offered by Absa Bank are:

  • The new account is active immediately on the completion of the online transaction
  • One can transfer the funds to the receiver electronically and th ereceiver can withdraw th emoney from any ABSA Bank ATM without any need of any bank account or card.Just the receiver needs the access code generated by the sender.
  • With Western Union, one can transfer funds internationally and that too easily and electronically from anywhere in World.
  • The facility of Online Share Trading gives the option to access your portfolio, real-time transactions anytime i.e. 24 hours.
  • The users of internet banking of Absa Bank can pay traffic fines easily and get proof also of the payments.
  • There is a consolidated view of all the unit trust investments held with Absa Bank through MyAbsa on Internet Banking which can be accessed easily.
  • Make UIF and SARS payments online.
  • There are authorisations in order to provide access to additional users and limit the functioanlity as required.
  • As there are many settings available, one can customize the same according to the preferences and update the personal information like address easily.
  • When one will Logon, Absa Bank gives security notifications of all the internet banking activities of the users.
  • One can link the vehicle finance account to their profile in order to view the financing details and see the outstanding balance and transaction history.
  • Maintenance of daily payment limits of transactions of your account
  • Easy to do Stop Payments.
  • Get payments reminders
  • Get eStatements via Email and preserve for future reference.
  • See balances,statements and its history online and manage your finances
  • One can access their bank accounts online any time and from any where. You just need to have an internet connection and a laptop to know the current status of your bank account.
  • Revolving Loan – this facility allows a customer to borrow additional funds from the bank whenever he is need of the money without having to apply for the loan a second time.
  • NotifyMe – this facility will allow any user, registered with the bank, to be informed about the transactions taking place in his account via the email or sms service.
  • There are internet kiosks attached to every branch of Absa Bank around the world. These kiosks ensure that even if the account holder does not have an internet connection, he can access his account. These kiosks stay open 24 X 7. The customer can also get A4 size printed account statements from the kiosks after every transaction.
  • A person who has a savings account with Absa Bank can get money within ten minutes of applying for a personal loan from the bank.

The Internet Banking is best suited when

  • One needs to access the bank account at odd hours i.e. late nights.
  • One wants to work from home or office and not want to stand in the long queues in order to get the work done in the bank.
  • one wants to manage the finances on its own

In order to use the online banking services, you will require a unique login id and a password provided by the bank.
This login id can be used to sign in to your personal account and perform the desired banking transactions. Internet banking is a completely safe and a secure procedure that not only saves time but also puts an end to standing in long queues. In order to be eligible for the online banking facility, you will have to register with the bank and complete all the registration formalities. Once you are done with it, you can contact the helpline number and make your payments. Details on your savings account can also be found out online.

Services

The bank offers various types of services to individuals, small businesses and commercial entities. Following is the list of services which customers can avail:

  • For individual customers, the bank offers transaction accounts, which in turn are aimed towards the young students, basic accounts to suit every common man’s requirement and cheque accounts for the elite class of the society as well. Considering the Islamic community that resides in the country, the bank also offers customize accounts like Islamic accounts as well. Similarly, credit cards can also be availed suiting the requirements of a customer.
  • Some of the banking offers can be availed under ‘valued bundle’ or ‘packaged solutions’. Not to mention the ‘Absa rewards’ scheme that privileges a customer to avail cash back offers on their purchases. Insurance and loan products are also available for individual customers.
  • Just like individuals, small and commercial businesses, too can avail similar packages for accounts and credit cards, including loans by way of term loans, working capital and Khula loans.
  • The commercial businesses can also avail finance for asset and property, not to mention specialised funding services as well.

Bank Branches

The Absa bank operates in most of the South African provinces. It has branches in most of the provinces like Eastern, Northern and Western Cape, Free State, Gauteng, Kwazulu natal, Limpopo province, Mpumalanga and the North West portion of South Africa. The fact that it is one of the leading banks can be figured from its wide network of branches and ATM’s. The bank continues to grow in terms of its branches. In September 2011, it set up a branch in Burgersfort, whereas a branch was set up in June, 2012 in Clearwater mall, outside the Johannesburg.

Credit Card

The ABSA credit card division handles everything about credit cards. Right from handling enquiries to providing credit card statements and answering about the application status, this credit card division provides complete information.

The different types of credit card available are

  • Classic Credit Card
  • Silver Credit Card
  • Gold Credit Card
  • Student Credit Card
  • Platinum Credit Card
  • ABSA Private Bank Credit Card
  • MasterCard Electronic Credit Card
  • Garage Card
  • Affinity Credit Card

 

By filling up an credit card application form, you can apply for any of the credit card online. The payments can also be made online with the Internet banking facility.

You can contact ABSA Credit Card division at 0800 11 11 55 .

If Credit Card is lost and if one wants to apply for Credit Card, call 0861 11 44 11 or Email on contactcard@absa.co.za

 

Packages

  1. Student Banking – Get Student Silver Current Account and easy access to student loans.
  2. Youth Banking – Get Debit card based savings account
  3. Seniors Banking – Get the rewards and convenience of Prosperity Account number along with lifestyle enhancing services of the Prosperity Club.
  4. Silver Banking – Save R100 per month along with Silver current account,credit card and other unique benefits
  5. Gold Banking – Save R110 per month along with Gold current account,credit card and other attractive benefits
  6. Platinum Banking – Save R300 per month along with Platinum current account,credit card and other lucrative benefits
  7. Banking for young professionals – It is specially for young people who are working and does not have time for banking. So ABSA bank offers special solution for them.

Loans

Individual loan products are one of the major revenue generating businesses of the bank. For individuals, the bank has a plethora of loan products covering, home, vehicle, education and personal loans. However, the home loan is by far the most popular product of the bank. Let’s understand the product in detail.

 

Home Loans

  • When it comes to home loan, the bank gets fully involved with the customer in buying home. Right from making suggestions about buying or selling home, including the costs involved, the bank assists in every step. It also assists customers in case they wish to buy repossessed property.
  • The bank has staff, trained to help customers calculate their home buying cost. They go to the extent of locating the would-be-home of the customer, negotiating the deal and helping the customer avail a home loan from Absa Bank to finally helping him in shifting.
  • The bank offers 3 major kinds of loans. The Absa home loan is for buying/building/renovating home. It can also be used for managing home debt or home equity for additional funds.
  • The 2nd type is ‘My home’ home loan, which is similar to the previous. However, the eligibility rules are that the single or the joint borrower should have Rs.16, 500 as his income at least, coupled with South African identity proof.
  • Existing home loan borrowers with the bank can also avail additional finance to get rid of the current debt. This is called home loans for existing customers.
  • Foreign customers, who wish to buy property for investment or pleasure, can also seek home loans by way of ‘International mortgage’ for buying so.

 

Careers and Vacancies

Absa bank offers a variety of career programs such as financial analysts, customer service executives, home loan specialists, marketing executives, human resources executives and so on. To search current vacancies with the bank, you can go to the bank’s website directly and enter your details. The bank’s recruitment program happens twice a year in which all the applicants are called for a written test and a personal round of interview. The presently vacant positions are available in Cape town and Durban. You can contact the bank personally for more details on their careers, jobs or vacancies with the bank.

 

Swift Code

ABSA bank swift code in South Africa is ABSAZAJJ. This is an eight character code that is used to identify the banks from other banks in the country. It is very useful whenever there is an international transaction of money from one bank to the other or from one branch to the other. This code is unique and each financial institution operating is given a swift code. SWIFT based payments in South Africa are based on certain rules set by Payments Association of South Africa.

Contact Details

The following is the contact address of the registered office of the bank at Johannesburg.

3rd Floor,

Absa Towers East,

170 Main Street,

Johannesburg,

Gauteng Province, 2001, South Africa.
e-mail: absa@absa.co.za .

Basic Information : Given bellow get some basic information about Absa Bank.

 

Corporate Head Office :

Area served : Southern Africa, Africa

  • Products : Commercial banking, Finance and insurance, Retail Banking, Credit Cards, Private equity, Investment Management, Investment banking
  • Revenue : R42.814 billion (2010) , R42.814 billion (2011) R42.814 billion (2014) 814 billion (2015)
  • Total assets : R718 billion (2011)
  • Owner(s) : Barclays plc (55.5%)
  • Employees : 36,535 (2011)
  • Known As : City Bank
  • SWIFT Code : CIBLBDDH
  • Stock Code : CITYBANK
  • Category : CITYBANK
  • Type : Private
  • Origin : Local
  • Operating Hours : Weekdays: 9.00am – 4.00pm Saturday: 8.30am -12.30pm Sunday: closed Public Holidays: closed
  • Established : 1996 (ninten hundred ninty six)
  • Facebook : http://www.facebook.com/pages/Dutch-Bangla-Bank/114235041920294
  • Youtube : http://www.youtube.com/absagroup
  • Twitter : http://www.twitter.com/absagroup
  • Website : http://www.absa.co.za
  • Email : absa@absa.co.za (Read More)
  • Telephone : Head Office : +759739594269369, Customer Service : +78434768379843 (Read More)
  • Fax : +578957283676 (Read More)
  • Absa Bank Limited registration number: 1986/004794/06
  • Industry : Banking, Financial services, Investment services, Insuring services
  • Absa Group Structure : ABSA Group Limited is structured into a number of divisions which provide various services: (Read More)
  • Leadership : In 2009, Absa appointed one of South Africa’s most successful and highly regarded businesswomen, Limited from 2004 to 2009. (Read More)
  • Major Shareholders : Below is the latest information on Absa’s current major shareholders (Read More)

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