- Jan 12, 2020
Funds just cleared. So about 7 hours transferring from FNB to Bank Zero.I received a link this morning to let me know I can open my account. This is done via downloading the TESTFLIGHT app from the app store (I use an iPhone). The email provides you with a code which you put into TESTFLIGHT and that then downloads the BANKZERO app.
It took me 3 minutes to open my account. The only issue I had was when you select between "collect my card" and "deliver my card" I first selected the collect option. The problem is that it prompts you to select a store where to collect the card from (I believe this is from a Clicks store) but there are no stores to select and I could not see a way around this. I then selected the deliver option.
I also transferred a few Rand from my FNB account to the new Bank Zero account. FNB has already added Bank Zero to its list of banks for payment purposes.
I'm keen to see how long it takes before the funds reflect in the Bank Zero account.
Since they use Testflight, the Bank Zero app is clearly still in Beta testing mode. I am one of the people who laughs at Capitec Bank's app (I do have an account with them). The Bank Zero app does have a similar UI experience to the Capitec app but "dumbs" it down even further. Gone is the Capitec account names list which is replaced by an account list that have photos. So you can assign each account a separate image. Interesting design idea ......
The UI is extremely basic but does have options for payments, transfers, send money and buy.
The app even provides for "business functionality" meaning you can add users who are allowed to load beneficiaries and create payment batches. The app then states that these users are not allowed to release a payment though as the account holder does that. They are clearly catering for small businesses that have a PA/administrator/bookkeeper.