Free cellphone banking with Absa

6 Oct 2005

For the first time in South Africa, anyone can bank anytime, anywhere on their cellphone without paying banking fees for six months, with immediate effect. The offer will be valid until 31 March 2006 and even SMS charges for transacting will be waived by Vodacom for the first three months.

Jaco Grobler, Managing Executive: Absa Delivery Channel Services, says: "We want to spread the good news of convenience banking to all our customers, particularly to those in the traditionally under-banked areas."

Free Cellphone Banking means that Absa customers can check account balances; view mini statements; top up prepaid airtime; make payments; do inter-account transfers; request fax and email statements and send proof of payments at no charge.

"We hear stories of people in rural areas travelling miles to the nearest ATM or branch just to get an account balance or to check if a payment has been made. With Cellphone Banking you don't even have to get out of bed," says Grobler.

"It's also extremely easy to use. Our offering is a step-by-step menu-driven service, which is aligned to existing cell phone menus. In other words, the look and feel of Absa's cellphone banking menu is similar to those already on the handset.

"To query your account balance, you don't need to go into a branch to register for the service. You simply download the Cellphone Banking menu," says Grobler.

Because the demographic profile of cellphone users cuts across economic and social groupings, it is a channel that can deliver banking services to the previously unbanked portion of society.

Absa currently has over 70 000 Cellphone Banking customers. Cellphone Banking has experienced customer growth of more than 65% in recent month: "We expect this growth to continue as customers start realising the value of Cellphone Banking."

The offer of free Cellphone Banking is available immediately to all new and existing Absa Cellphone Banking customers on the Vodacom and MTN networks.