Sponsored content: Scrolla.Africa has partnered with Shoprite so that our first 1,000 readers get a R10 voucher when they sign up.
What would you say to a free bank account? With no monthly fees, no load fees and no transactional fees (except for withdrawals)?
This is what Shoprite is offering with its Money Market Account, which is the cheapest entry-level bank account in South Africa. It’s retail first.
This transactional account already gives over 1-million banked and unbanked customers access to essential transactional banking. Existing Shoprite customers who belong to its Xtra Savings rewards programme can link the purple reward card to their account.
They can then use it like a bank card to transact in Shoprite and Checkers stores by entering a pin number.
The Money Market Account lets customers skip the long queues and high transaction fees at ATMs by depositing and withdrawing cash at any till point at Shoprite, Checkers and Usave supermarkets nationwide.
Apart from withdrawals, customers can send money, buy airtime, data, electricity, send virtual vouchers, pay bills and pay for groceries from their phones. All this without transaction fees.
It is accessible to both South African citizens and foreigners living in the country. Although only South African ID holders can have a cash account, everyone can have a voucher account. You can do everything with a voucher account except send, receive or withdraw cash.
Unlike most bank accounts, there are no debit orders or deductions, so customers are in full control of their money.
This bank account offers:
- Low-cost banking with no unwanted fees (no monthly fees, no load fees, no transactionalfees; only a fixed withdrawal fee of R5).
- Simplicity and transparency, as there are no physical forms (everything is digital).
- Retail hours (not banking hours) – seven days a week.
- Free deposits at any till.
The account can be accessed on any mobile phone – via the Shoprite App, USSD (*120*3534#), WhatsApp (0872405709) or the Xtra Savings card.
Scrolla.Africa has partnered with Shoprite so that the first 1,000 readers who create a Money Market Account, will get R10 vouchers loaded onto their account. Use the code: scrolla to open your Money Market Account now, visit the Money Market Website.