How do bank cards work? Is it just a card or a way to get advantages, a way to get the little things in life or a way to get the bigger things in life? Absa is removing the guessing by providing new stylish black and smart-metal card options in a world where the range of options is always expanding. This opens a portal to value. As we work toward our goal of inspiring Africa’s tomorrow, one narrative at a time, it’s about effectively nourishing the hopes and dreams of our clients. It concerns the following stage of a process to provide over nine million South African clients with the best value for their money in banking.
With the release of all-new card designs that were developed in collaboration with more than 2000 consumers and frontline employees, that journey has been given fresh life. Additionally, Absa is encouraging a digital experience with its new cards with the release of the ground-breaking augmented reality game Card Quest, which allows existing and non-Absa customers to win fantastic rewards and incentives for using a transactional account or credit card. To finish the series, players gather virtual cards at various locations or trade with other players. Customers and non-customers can access information on Absa’s website, absa.co.za and they should follow Absa on social media for more communication.
As consumers and captains of our destinies, we always strive to transcend the conventional, we want the ability to make choices and have experiences that will add meaningful value to our lives and elevate us to a next level lifestyle. Next level banking is designed to help you achieve that and much more. More safe and secure banking through a range of superior digital payments including contactless payments, that continue to attract customer confidence so much so that Absa’s digital payments segment grew 154% in the first six months of this year, supported by our best-in-class capabilities and Digital Fraud Warranty. Our bank card is also a gateway to Absa’s best value for money banking,” said Christine Wu, Managing Executive: Consumer Product, Absa Everyday Banking.
Absa transactional and credit card cardholders enjoy among the following value for money benefits:
- Full-service banking packages incorporating a gold or premium credit card with zero monthly fees and free embedded life cover of up to R 25 000
- Your spouse banks for 50% discount and your children bank for free
- Up to 57 days interest-free on qualifying credit card purchases
- No transaction fees on credit card swipes
- Unlimited Digital Fraud Warranty
- Innovative digital payment options including Absa’s first to market affordable PayShap payments
- Absa Rewards, now available free of charge to all customers
- Earn up to 30% real cash back on fuel, health and beauty and grocery purchases at Absa Rewards partners
- More rewards for smart banking on completion of embedded banking behavioural challenges in Absa Banking App
- Travel benefits including free airport lounge access and up to R3 million free travel insurance
- Buyers’ protection and extended warrantee on your purchases
- Free Currency Investment Accounts on Gold Value Bundle and Premium packages
“We empower our customers, one story at a time but enable the small day-to-day things, one tap at a time. Our new card design integrates the rich meaning of our purpose and the powerful proposition in a single manifestation,” Wu added.
The new card face is embossed with an African basket weave design, a powerful representation of Absa’s interconnected pan-African presence and will be issued across segments – youth and entry level through to wealth clients. Smart-metal cards will initially be available to Private Banking and Wealth clients with availability to other segments considered for a later stage. Absa has also fully switched to vertical cards. Absa’s digital cards on the Mobile Banking App would also be updated with the new design. “We recognise that cards are shifting to the mobile environment. Many of our customers already use digital payment methods for 80% of their transactions, said Wu.
Additional value for money transactional benefits since January 2023, following a further R500m pricing relief support created for customers:
- Absa Rewards Now Free for Everyone
- The Absa Rewards monthly fee of R23.20 has been waived, making it free for all Absa Rewards customers.
- New and exciting enhancements to the programme introduced in early 2023 for primary banked customers, who will receive superior value from Absa Rewards.
- Youth and Students Continue to Bank for Free
- Absa Student and youth accounts still carry zero monthly fees and continue to benefit from free embedded benefits such as 100mb free data per month and free vouchers.
- In addition to unlimited free Absa ATM Cash withdrawals, Mega U customers who bank digitally with Absa will further benefit from 90% cheaper Digital Payments and External Debit Orders.
- Unrivalled Benefits for Absa Transact customers
- Absa Transact customers continue to benefit from R5 000 free lump-sum death benefit and with zero monthly fee increases in 2023.
- Major Relief for Flexi Account customers
- Flexi Account customers will benefit from the following price reductions:
- Till-point withdrawals – Now free (Previously R2.00)
- Debit Card Swipes – R1.00 per transaction (Previously R4.00)
- Digital Payments – R1.00 per transaction (Previously R10.00)
- External Debit Orders – R3.50 per transaction (Previously R10.00)
- Customers continue to get unrivalled value with free R15 000 lump-sum death benefit included as part of their monthly fee worth over R90.00pm.
- Flexi Account customers will benefit from the following price reductions: