Bank Zero opens fully and unveils 2022 pricing

Bank Zero said it is now fully open for business, and the Bank Zero App is freely available in the App Store and in the Google Play Store.

Until today, Bank Zero operated on a waiting list to monitor its digital customer support processes, but the waiting list filter has now been removed.

“Our launch is no longer constrained, and we invite all businesses and consumers to experience powerful banking at zero fees,” said Bank Zero chair Michael Jordaan.

Bank Zero CEO, Yatin Narsai, said they were pleasantly surprised by the higher-than-expected number of businesses registering during the closed roll-out.

These businesses, Narsai said, were mostly (PTY) LTDs followed by CCs and then sole proprietors.

There was also strong take-up and growth in card transactions, notably for ecommerce.

A card control feature unique to Bank Zero enables customers to manage subscriptions by turning them on and off as required.

It allows Bank Zero customers to stop merchants which incorrectly debit their card — a handy feature for online subscriptions.

Bank Zero’s 2022 banking fees

As part of fully opening Bank Zero for business, it has also launched its new pricing for 2022.

“With all fees remaining as they were in 2021 and 2020, it sends a powerful message of Bank Zero’s intent to bring much-needed relief to both consumers and businesses,” it said.

Bank Zero maintained its zero monthly fees and zero fees for debit orders, EFTs and card transactions. There are also no fees when buying prepaid items like data or electricity.

The table provides an overview of Bank Zero’s 2022 fees (including VAT).

Now read: We tested Bank Zero and it was impressive

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Bank Zero opens fully and unveils 2022 pricing