1 reviews | Active since Oct 2022
High Costs of Banking on ABSA for SME
Our experience with ABSA Bank has been a nightmare and by far the worst for a small start-up business. We opened an account over a year ago (Jul 2021) and we specifically requested the lowest cost account. We were advised at an Absa branch that the monthly fee will ONLY be R85 per month. No other charges were mentioned or clarified. Now there are all sorts of charges, in just one month ABSA can get to charge 1. R150 for one charge, 2. R100 for the other, 3. R85 monthly fee, 4. R85 for paper statement bring forcefully sent by post - by the way which we requested not to be sent - and the bank told us we can access via an App or website. From our view, we wonder if ABSA Bank is serious in encouraging small start-up businesses (SMME's) in SA? We would love to hear from other small black-owned SMME's.
