MyWORLD Bank Account
MyWORLD shared banking lets you bank alongside your loved ones while enjoying South Africa's lowest banking fees.
Why Choose MyWORLD?
Shared Banking - Seamlessly bank with your loved ones, making joint financial management easier than ever.
Lowest Fees - Benefit from the most competitive banking fees in South Africa.
Secure and Reliable - Enjoy top-tier security for your peace of mind.
What is a Pocket Account
POWER POCKET
- A separate account linked to your Primary Account
- A separate card can be linked a Power Pocket account
- It has its own unique account number
- Made to share with friends and family
- Add a Pocket User to bank using the Power Pocket card
- Add up to 10 Members to view the account
- You decide who can use the Power Pocket, and how
What is a Saving Account
SAVINGS POCKET
- A separate account with a unique account number
- Save money at competitive interest rates*
- Enjoy immediate access to your funds
- No card can be linked to a savings pocket
- Add up to 10 Members to view the accounT
- Perfect for savings groups
Here's more about MyWORLD
The person who opens a MyWORLD account is the Primary Account Holder. Your MyWORLD account comes with:
- One Power Pocket
- One Savings Pocket
- The option to link up to five Pockets to your account
Competitive rates* on any positive balance
All interest rates quoted are nominal annual compounded monthly (NACM) rates.
- MyWORLD: 1.00% p/a
- Power Pocket: 1.00% p/a
- Savings Pocket: 6.00% p/a
MyWORLD Banking Features
 MyWORLD |
 Power Pocket |
 Savings Pocket |
|
|---|---|---|---|
| Competitive rate on any positive balance | |||
| Minimum account balance | R0.00 | R0.00 | R0.00 |
| 2 Linked Pocket accounts | |||
| Deposit money | |||
| Withdraw cash at till at selected retailers | |||
| Withdraw cash at any ATM | |||
| Pay for purchases | |||
| Transfer between accounts instantly | |||
| Link VISA debit cards | |||
| Add up to 5 pocket accounts | |||
| Add a pocket user to bank | 1 User | 1 User | |
| Add pocket members to view | Up to 10 Members | Up to 10 Members | |
| Instant Issue VISA debit cards | |||
| Allocate banking fees | |||
| Debit orders | |||
| Instant payments reflect instantly | |||
| Balance enquiry at till or ATM |
Activate your MyWORLD Overdraft
Boost your MyWORLD bank account with our convenient Overdraft facility, perfect for putting a little extra in your pocket when you need it most.
With up to R100 000, and affordable repayment terms, enjoy cover for emergencies, and month-end debit orders, or cash for essentials before payday.
Apply via our App, Online Banking, our Contact Centre on 0860 333 004, or at your nearest African Bank Branch.
More about MyWORLD
You get 5 free accounts. Your MyWORLD account gives you access to up to 5 free linked accounts, which you can use as either Power or Savings Pockets.
- A Power Pocket is perfect for sharing with family or friends. You could give one to your child to teach them about banking, or to a family member who either doesn’t have a bank account or who you send money to on a regular basis.
- It comes with its own embossed personalised Debit Card and has an interest rate of 1.00%, the same as your Primary MyWORLD Account.
- The Savings Pocket, which has a savings rate of 7.00%, is perfect for dream goals, group savings goals, grocery clubs and emergency funds. Whatever Pocket you decide to open, or who you decide to share it with, you retain complete control over how the account operates. It’s YOUR WORLD after all.
MyWorld Overdraft FAQ
There are several ways to apply for African Bank’s Overdraft facility. You can:
- Apply online 24/7 using our African Bank App or by registering for Online Banking on our website. You will not be charged any data when using our digital banking platforms.
- You are welcome to visit any African Bank branch and apply in our branch.
- You can contact our Call Centre on 0860 333 004
- The great news is that there are no initiation fees.
- Customers will be charged a monthly fee of R69 which includes VAT.
- The transaction fees are linked to the MyWORLD transaction fees. Please refer to our pricing guide here.
- Depending on the customer’s affordability, the maximum facility offered is R100 000 and the minimum facility offered is R3 500.