Having a bank account in your own name has many advantages. If someone wants to send you money or deposit your salary, you can easily transfer money to your Mzansi Postbank account. Your money is kept in a safe place and only you can access it.
Everyone deserves the benefits of banking. The Postbank Mzansi Account makes low-cost banking accessible to everyone and makes dreams come true for all South Africans. A Postbank Mzansi account comes with a Mzansi Visa debit card and transactions (deposits, withdrawals) can be made at post offices or ATMs nationwide.
– Pay for goods and services with your card instead of carrying cash
– Withdraw at any ATM countrywide and at any online Post Office branch
– Debit and credit (stop) orders are linked to your account to cover monthly expenses
Only open to South African citizens with a valid ID
– Cannot be open for foreigners or groups (Societies, Joint account, Stokvels, CC, and Companies etc.)
– The same customer cannot hold more than one account of the same product type.
– The account balance may not exceed R25 000 at any given time
– The customer cannot perform any single or multiple withdrawals of more than R5 000 per day
How to apply
You can apply at your nearest Post Office. All you need is your South African ID document (no Passport) and you may also need to provide proof of residential address in compliance with the Financial Intelligence Centre Act (Fica).