To qualify for an Absa Private Banking Account, you must meet the following main requirement:
- Earn a minimum gross income of R62,500 per month[1].
For medical professionals registered with the Health Professionals Council of South Africa (HPCSA) or the Allied Health Professionals Council of South Africa (AHPCSA), you must also meet the income criteria as above to qualify for Private and Wealth Banking[4].
Key features and benefits of the Absa Private Banking Account include:
- A dedicated private banker for individual, business, and family banking needs
- Automatic membership to Absa Rewards, earning cash back with no extra monthly fee
- Online share trading with preferential rates and waived annual administration fee
- Multi-currency Mastercard® Cash Passport™ with set exchange rates and emergency cash access
- 6 visits per year to airport lounges affiliated to LoungeKey
- Overdraft facility for additional cash flow
- Travel insurance for account holders and travel companions when purchasing tickets and accommodation with your Visa Credit Card
- Access to Visa Signature Credit Card benefits, such as concierge service, extended warranties, merchant offers, global customer assistance, hotel and rental car privileges, and more
- Special airport lounge access with Private Banking Credit Card
If you are a medical professional, you may also benefit from:
- Zero monthly fees on your Practice Management Account when you open a Private or Wealth transactional account bundle
- Access to business and personal banking, financial specialists, offshore options, and professional online stockbroking
- Priority service at select branches and discounted partnerships for practice management solutions
To start the application process, you can apply online through the Absa website, or contact a Private Banking consultant for assistance[1].
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