Publish Date: 07/03/2019
Change the way you look at the world of banking
At African Bank we understand that money “makes the world go round” and that easy day-to-day banking is a priority for South Africans who want to make their hard-earned money work for them.
We also believe “sharing is caring” when it comes to your money.
The launch of a new banking product, MyWORLD, this month reinforces our commitment to providing our customers with holistic banking solutions.
The most exciting differentiator of a MyWORLD account is its joint account benefits.
Groups of people (families, friends, entire communities) can now work towards a common goal by saving money together. In addition to this account being very easy to open, you can manage your finances anywhere at any time, together or individually, using cellphone banking, the African Bank App or internet banking.
Think about it … you and your community are already sharing the costs of many things, like transport and housing. We have leveraged the trust and social nature this enables and recognise that customers want their transactional bank accounts to meet this behavioural change.
As a truly all-in-one banking solution, the MyWORLD account is made for sharing.
You can open an account in less than three minutes with minimal documentation, online, through the App or in branch. Once you’ve done that, you can look forward to:
When a Primary Account Holder opens an account, they automatically get access to a main account, a Power Pocket and a Savings Pocket. Your Power Pocket allows you to choose someone else (called a Pocket User) to transact on the Power Pocket. This could be a family member or close friend, a child under 18, a student in university, a small business or a stokvel.
The Savings Pocket allows you as the Primary Account Holder to save at the best interest rate of 6.5% per annum and have immediate access to your money. Money can be transferred and/or deposited into a Savings Pocket.
You have access to a total of five Pockets and you can choose whether to have Power Pockets, Savings Pockets or a combination of both.
We don’t know about you, but to us a Power or Savings Pocket sounds like banking which will make you feel like a superhero! As one of the banks with lowest fees, we really can make you the superhero of your family or community.
This is because African Bank really understands how communities function today. We have, therefore, developed a product that meets the needs of a family or a community, not just an individual.
When you ask people what they want from their bank most are looking for the cheapest bank account, banks with the lowest fees and joint account benefits. These things make life easier and more affordable.
Keeping banking simple and encouraging the use of online banking, yet maintaining personalised service, are just some of the reasons we have the cheapest bank account fees in South Africa.
We know that you, your family and community have big dreams, so there’s no time like right now to start achieving these with the MyWORLD account from African Bank.
PREPARED ON BEHALF OF AFRICAN BANK BY CATHY FINDLEY PR. CONTACT JACQUI RORKE ON [email protected] OR (011) 463-6372 WITH ANY CONSUMER PR QUERIES.
About African Bank
Our mission is to be a successful Retail Bank offering a wide range of products and services to the consumers of South Africa. The people who work for African Bank represent the diverse population of South Africa; therefore we are a reflection of you, of all South Africans. We seek to provide value - more than our consumers expect of us. We promise to live our purpose 'humanity through banking' in all that we do and we are confident that we can, because 'We are You'.