Bank Zero has announced that it is now fully open for business, anyone is welcome to do business with the newly established digital bank. Bank Zero App is freely available in the App Store and in the Google Play Store.
The bank promised all potential customers that their accounts and transactions fees will remain exactly the same next year.
Bank Zero is famously has zero monthly fees and also charges no fees for electronic payments, debit orders, card swipes and the purchasing of prepaid airtime, data or electricity.
Michael Jordaan, the chairman of Bank Zero said, “our launch is no longer constrained, and we invite all businesses and consumers to experience powerful banking at zero fees.”
Bank Zero CEO, Yatin Narsai, said they were pleasantly surprised by the higher-than-expected number of businesses registering during the closed roll-out.
According to Moneyweb, Capitec Bank has managed to drive this cost lower is testament to the size and purchasing power of its base of customers who would typically get cash at a till point.
BankZero says it only needs 100 000 customers to break even, but that its expectation is that it “will end up bringing relief to millions”.
The table provides an overview of Bank Zero’s 2022 fees (including VAT).
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