ABSA Banking Solution | Youth, Student & Graduates

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ABSA Banking Solution | Youth, Student & Graduates

Whether you’re in school, a tertiary student, recently graduated or simply want to save, we’ve got a bank account to get you en route to financial greatness
  • Under 19s

MegaU – the no monthly fee youth account

With zero monthly fees and loads of monthly value-adds, MegaU is the ideal bank account for under 19s. Want to take it to the next level? Become moneywise by downloading our feature-packed MegaU app.
No monthly fee plus free card swipes and ATM withdrawals
50 MB of free data every month
Free monthly Nu Metro movie ticket or McDonalds/Wakaberry voucher
Free MegaU app to check balances and earn cash 24/7

What you can expect

 Better everyday banking
  • No monthly fee
  • Free cash withdrawals at Absa ATMs
  • Access and manage your money whenever you want to
  • Free debit card purchases
  • Free SMS and email notifications
  • Free Absa ATM balance enquiries
  • Free internal debit orders and stop orders
  • Free e-Statements
  • Earn interest
  • 24/7 access to the largest ATM network in South Africa
Value added services
  • 50 MB of free data monthly through MTN, Cell C, Vodacom or Telkom AND
  • Free NuMetro movie ticket every month (2D movies) OR
  • R20 discount voucher from McDonalds OR
  • R20 discount voucher from Wakaberry

How to qualify for value-adds

  • Maintain a minimum balance of R200 per calendar month OR
  • Do at least two transactions (these include debit card purchases or prepaid top-ups) throughout the month.

How to redeem value-adds

  • To redeem your monthly value added services simply dial *120*733# and follow the prompts.

Frequently asked questions
Terms and conditions

What you need to open your account

Requirements for age 16 to 19

  • A valid, bar-coded South African ID or valid passport
  • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)

Requirements for minors under the age of 16

  • Original birth certificate or valid passport
  • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)
  • Parental consent to open and operate the account
  • Your parent or guardian’s original bar-coded ID
Break free with our Absa MegaU app

Enjoy the freedom of handling your own money. With our free MegaU app you can:

  • Check balances and keep track of what you spend, 24/7
  • Earn cash from your folks by doing MegaU “chores”
  • Earn cool monthly rewards
Download the app now and get your passport to financial freedom:

  • What you need to open your account

    Requirements for age 16 to 19

    • A valid, bar-coded South African ID or valid passport
    • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)

    Requirements for minors under the age of 16

    • Original birth certificate or valid passport
    • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)
    • Parental consent to open and operate the account
    • Your parent or guardian’s original bar-coded ID

  • Apply at an Absa branch or online

     Go to your nearest Absa branch with your necessary documents to or apply online.

  • Talk to us

Speak to one of our consultants for help with your MegaU account application.
We can call you back or you can call us directly on 0860 100 372

 StudentsMake money go further with the Student Silver account
The Student Silver account offers great value at an affordable monthly fee. Plus, you’ll benefit from free value added services and get access to student loans too.Finance your tuition fees, textbooks and more with a student loan.
Get a Student Silver account for everyday transactions.
Start saving for your dream goal with as little as R50 a month using TruSave.

  • What you need to open your account

  • To be 18-27 years old
  • Must be a full-time student studying towards an undergraduate or postgraduate degree, or qualification of one year or more
  • A valid, bar-coded South African ID or valid passport
  • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)
  • Proof of registration at a tertiary institution

  • Apply at an Absa branch or online

     Go to your nearest Absa branch with your necessary documents to apply or apply online.

  • Apply at your student bureau

You can apply at your chosen student bureaux, which are located at most tertiary institutions. Make sure you bring the necessary documents to apply.

  • Talk to us

Speak to an Absa consultant to help you apply for a Student Silver account.
We can call you back or you can call us directly on 08600 08600

Gold Graduate account

Are you a final year student or recent graduate? At a discounted fee of R49 per month for 12 months, you can make a smooth transition into the working world with a Gold Graduate account.
Low monthly fee of R49 for 12 months.
Access to overdraft and credit before your first salary.
Up to R100 off a second main meal with Absa Dining.
Free Nu Metro movie ticket every month.

  • What you need to open your account

  • To be under 30 years old
  • To be in your final year of studies or have just qualified with a three year degree or diploma or post qualification.
  • A valid, bar-coded South African ID or a valid passport
  • Proof of residence not more than 3 months old (e.g. utility bill or Telkom statement)
  • Proof of qualifications or confirmation of final year studies
  • Latest payslip (if you are applying for an overdraft)
  • Bank statement – last 3 months (if you are applying for an overdraft)

  • What you get

    Transactions included in monthly fee:

    • 5 free Absa ATM cash withdrawals
    • 5 free Absa ATM cash deposits at Absa ATM or Cash Acceptor
    • Unlimited electronic balance or statement enquiry (with  Absa ATM, Internet Banking and Telephone Banking)
    • Unlimited fund transfers and internal payments (includes internal debit orders and stop orders)
    • Unlimited debit/cheque card purchases
    • Unlimited cash withdrawals at point-of-sales (POS)
    • Unlimited electronic account (includes external debit orders) and beneficiary payments via Absa ATM, Internet Banking and Telephone Banking
    • Free SMS/email notifications
    • No monthly subscription fee for Internet Banking and Telephone Banking
    • Unused transactions allocated in your Value Bundle will roll over for one month if not used in the current month
    • 50% discount on monthly service fees if a positive balance of more R30 000 is maintained
    • Absa Rewards members earn up to 1% back in cash rewards on all Absa debit, cheque and credit card purchase
    • Get a free Nu Metro ticket every month (2D movies only)
    • Get up to R100 off a second main meal purchased through Absa Dining partnered restaurants

    Read the Absa Dining terms and conditions or find out more at www.absadining.co.za.

 

  • How to use your Gold Graduate account

 

  • Make withdrawals (from an Absa ATM or at a point-of-sale), account payments and electronic fund transfers
  • Get prepaid top-ups and print balance enquiries and mini statements at any Absa branch or ATM
  • Swipe your card locally and internationally
  • Shop securely online with One-Time PIN transaction verification
  • Visit absa.co.za and register for Absa Online to enjoy Internet banking

Download the terms and conditions.
NOTE: Your monthly fee is discounted for a period of 12 months, thereafter your account will be moved to a Gold Value Bundle account.