The Postbank Mzansi Account is part of the South African dream to provide low cost banking for everyone. It’s a very affordable and convenient way to work with your money. The Postbank Mzansi Account comes with a Mzansi Visa debit card which you can use to pay for your shopping. Transactions (such as deposits and withdrawals) can be made at any Post Office countrywide and at any Saswitch ATM.

• All you need to open a Postbank Mzansi Account is an South African id book (no passport).
• You will be issued with a Mzansi Visa debit card which you can use to pay for your shopping instead of carrying cash.
• You will also be able to make withdrawals at Saswitch ATMs wherever you are.
• An unlimited amount can be withdrawn at any on-line Post Office counter.
• When you use your card to pay for purchases, the money is taken directly from the available funds in your account so you never spend what you don’t have, and that means you don’t get into debt.
• You can have debit and credit (stop) orders going through your account – conveniently covering regular monthly expenses.

RULES APPLICABLE TO MZANSI ACCOUNT:

• Mzansi Accounts cannot be opened for foreigners (Using Passports),  only permanent residents with RSA ID may apply.
• Cannot be open for groups (Societies, Joint account, Stokvels, CC, Companies etc).
• The same customer cannot hold more than one Mzansi Account.  (This is applicable to all Postbank Saving Accounts).
• The balance in the account may not exceed R25 000 at any point in time.
• The customer cannot perform any single or multiple withdrawals of more than R5 000 per day.

MAKE IT WORK FOR YOU:

There are many benefits to having a bank account in your name.
If anyone wants to send you money or wants to make a salary deposit,
they can easily do it into your bank account. Your money is kept in a safe place and you are the only one who can get access to that money.