Absa has informed its Platinum banking clients that they will be migrated to a new package called Premium Banking.
The new package will have similar features to its predecessor, with a few changes on the cards.
Premium Banking is available to Absa clients who earn between R25,000 and R62,500 per month, and comes with a “red core card” – one card with which you can access your debit, credit, and savings account.
One of the additional services for Premium Banking is access to the Absa Home Loan Estimator. The estimator sends you a certificate valid for 90 days that shows how much you could potentially qualify for.
It also lets you view your Absa Home Loan credit rating out of 10 and provides tips on how to improve or manage your credit rating.
The Premium Banking transactional account and debit card is R159 per month, and includes:
- Free online banking
- Free mobile app banking
- Free NotifyMe SMS notifications
- Free card swipes
- 7 free Absa ATM cash withdrawals
- 5 free Absa ATM cash deposits
- Debit card with contactless tap and pay
- R25,000 lump sum death benefit
- 8 free Take Me Home trips per year
It also includes a free will and no admin fee on stockbroking.
The Premium Banking Platinum Credit Card is available for R68 per month (R43 account fee and R25 credit facility fee). Absa rewards may also be added for an extra R23 per month.
It includes basic travel insurance, a number of Bidvest airport lounge visits per month, purchase protection, and contactless payments.
International lounge access may be added through a DragonPass subscription at R59 per month.
Premium Banking credit cards are also integrated with Absa’s Walletdoc and MasterPass apps.
A 24/7 service line and priority bankers in selected branches remain included features. You will also receive access to a financial advisor and free financial needs analysis.