Use the App for all your day-to-day banking needs and more.
On top of the Zero (or low) fees,
what defines Bank Zero is its functionality.
After downloading the App, register in 2 simple steps
Bank Zero caters for businesses with turnovers from really small to in the billions.
Most banks don’t offer the required banking solutions to support businesses. This changes forever with Bank Zero.
The power of
3 x 3
Within a few minutes, build your own authorisation chain of up to 3 levels, with up to 3 authorisers per level.
Add, remove or move authorisers real-time by dragging their face tiles to the relevant level – all from the comfort of your desk or couch.
Seamlessly order
and link a POS
Pay Zero monthly fees, only a once-off upfront payment.
Automatically link your new iKhokha card machine to your Bank Zero account, without needing to re-FICA.
Link to external
accounting software
Connect Xero directly to your Bank Zero account and automatically import your transactional data.
No more manual data entries.
With a swipe and a tap,
straight into Excel
Transaction history viewable on your App can be downloaded straight into an Excel file.
Just swipe down to the date from when you want to download, tap the Excel icon, and save the file.
Available on all Bank Zero accounts, for both businesses and individuals.
Step 1 – Documents you need to add your business
Step 2 – We auto-populate your other documents
…and email them to you once you have added your business – all you have to do is sign:
Step 3 – Add your business
A Zero pricing strategy is important, but that’s not enough.
Offering innovative functionality to ensure control and transparency, is critical.
Both businesses and individuals require significantly more functionality than what is currently available to solve daily banking problems.
Although most banks have started addressing the needs of individuals, most banks don’t offer the required banking functionality to businesses.
A world first – security
under your control
As part of Bank Zero’s focus on security, we request an App-phone authorisation for ALL online purchases – whether the site does secure purchasing or even if it’s unsecure (often targeted by criminals).
Since App-phone authorisations are impractical for subscriptions posted by online news sites and others, we allow you to select which sites may bypass your App-phone authorisation. All under your control on the Card Settings screen.
No more card
skimming
The Bank Zero card patent provides a simple but innovative solution to ensure cutting-edge security. It minimises the impact of card data theft, card skimming and fraudulent eCommerce transactions.
The 16-digit card number doesn’t change each time you replace your card – unless you want to – which means card details for digital subscription services don’t have to be reset
We hate them!
And we protect you.
If a NEW debit order is loaded, we warn you with a red task on your App. Check the provided details, and reject immediately if you don’t recognise this.
All at Zero cost to you.
Bank Zero prevents rogue debit orders from hitting your account, as long as you keep your eye out for the red Bank Zero tasks.
A Quick Start Guide
to the magic
The App was kept light and simple and intuitive.
There are some unique features that you would not have encountered before – specifically the dragging and dropping of account tiles.
We want to help you discover this and other features, so please start off by looking at this one-page Quick Start Guide.
It’s all about digital
connectedness
Being both digitally and financially connected is a reality of how humans operate. Bank Zero mirrors this directly in its design.
Directly connect your Bank Zero accounts (and/or profile) with family, friends, children, staff, co-owners of businesses, club/stokvel members, or basically anyone you choose. Share information, allow sharing (or not) of funds, and remain up to speed on all transactional banking matters relevant to you or those you connect to.
Easily managing
your finances
These are simple but powerful tools to make life easier, and are offered by most banks.
A nifty feature though on your Bank Zero App is that you receive tasks for all scheduled payments / transfers that will run the next morning. This allows you time to check your account balance for sufficient funds. It also allows you time to decide if you want to change or even cancel it. And you have time to do this right up until just before it runs – no more 2 days’ notice required.
Supporting you with
all banking admin
For those assistants, staff members, family members or anyone doing banking admin on your behalf… just load their cell numbers against the accounts and/or recipients they must be able to access.
If you’re a business, their transactions will follow the authorisation chain you’ve set up. If you’re an individual, you as the account owner will authorise (or reject).
From ATM to Online
transactions
Use your App to control your Bank Zero card. Lock it fully if temporarily misplaced or lock partially to control ATM use. You can even select what type of ATM use is allowed.
Control who does your online card authorisations; decide whether a PIN is required for small tap transactions; and more – download to see everything you can do.
Unique QR code for
easy micro payments
Pay anyone in the Bank Zero ecosystem with a quick QR code scan, at Zero cost to you.
Receive payment by sharing your QR code without sharing any other detail (account or cell number). Only pay 0.5% of amount received – less than average market pricing. Add your QR code to your invoice or your till point or your website!
… and if you rather want to use any other QR solutions available in the market, just load your Bank Zero card onto those Apps.
Authenticated tracing
with supporting info
A PoP is emailed on your request, at Zero cost to you. Not only can these PoPs be authenticated, they also contain valuable supporting information for businesses and individuals alike.
While making payment, upload relevant docs such as invoices or contracts. These docs are then displayed in the PoP.
The PoP also shows where the money currently is. During authentication, the latest update on the money flows is provided.
Using the power
of biometrics
When you register, we obtain highly specialised biometric information from you. We use this to protect you from any attempts to fraudulently drain your bank accounts.
Should someone attempt access to your Bank Zero profile from their phone by pairing with using your personal details, we match their biometrics to those you provided us.
Yes you can
join too!
If you’re under 16, a legal guardian needs to kick-start the process (by providing your proof of ID).
Then you’re all set to create your own unique profile with your own personal access – and with full control over your transactions.
We are passionate about driving a savings culture. And the sooner you start banking, the sooner you start realising the powerful impact of saving.
Pricing has been turned on its head – basic banking is free and only extras are charged for.
The functionality, pricing and rates apply equally to all – all businesses and all individuals.
Bank Zero doesn’t offer entry-level accounts which are then forced to upgrade to higher-priced ones to access better functionality – feature-rich banking should never force customers into paying exorbitant fees.
Just like our banking, this is simple – all on one single page
Same pricing for ALL individuals and businesses. No tricks like needing to upgrade your account to access more features. Pricing includes VAT.
Download Pricing Guides here:
Account monthly fee
Zero
Account minimum balance
Zero
Add savings account or notice account
Zero
Add a business profile
Zero
Add a child
Zero
Friend people to account (e.g. family, club, stokvel)
Zero
Transfer money between accounts
Zero
Pay a debit order
Zero
Pay another bank’s customer using their account number (EFT)
Zero
Pay a Bank Zero customer using their account number (EFT)
Zero
Pay a Bank Zero customer using their cell number (SendMoney)
Zero
Pay a Bank Zero customer using their QR code
Zero
Pay by card – local or foreign card fee
Zero
Pay by card – mark-up on foreign transactions posted in ZAR
Zero
Send proof of payment via email
Zero
Buy prepaid data, airtime, electricity, etc
Zero
Receive notifications on activity
Zero
Receive monthly statement via email or download from App – within 3mths
Zero
Request account confirmation letter or IT3B
Zero
Card personalised & delivered to Clicks store
R59
Card personalised & delivered to street address in most cities (if remote +R30)
R99
Request balance at ATM or at POS
R2
Withdraw cash at ATM – local & foreign (note: R45 min fee if foreign)
R9/R1000 block
Withdraw cash at POS – local & foreign (note: R45 min fee if foreign)
R2
Withdraw cash without card – use SendMoney & cash-out at Shoprite Group
R8.50
Send cash to non-customer – use SendMoney & cash-out at Shoprite Group
R8.50
Deposit cash at POS – Shoprite Group (max R3k), PnP group (max R5k)
Ask retailer
Nuisance fees:
– Using new card before activating it (or using old card)
– Card used when set to ‘Lock’ or ‘ATM off’, or locked after 3 wrong PINs
– Exceeding chosen limits
– Insufficient funds (card, debit order, scheduled payment/transfer)
R2
Send proof of payment via SMS (but email is free!)
R1.50
Pay mark-up on foreign currency card transactions
Only 1%
Receive money via Bank Zero QR code
0.5% of amount
Dispute or stop a debit order (new debit order rejection is Zero!)
R8
Chargeback a card transaction
R50
Add another check account
R50 to open
If no transactions on a check account for more than 6 months
R5/month
Statements older than 3mths (or download xls as far back as you want for Zero!)
R10 / statement
Account monthly fee
Zero
Account minimum balance
Zero
Add savings account or notice account
Zero
Add a business profile
Zero
Add a child
Zero
Friend people to account (e.g. family, club, stokvel)
Zero
Transfer money between accounts
Zero
Pay a debit order
Zero
Pay another bank’s customer using their account number (EFT)
Zero
Pay a Bank Zero customer using their account number (EFT)
Zero
Pay a Bank Zero customer using their cell number (SendMoney)
Zero
Pay a Bank Zero customer using their QR code
Zero
Pay by card – local or foreign card fee
Zero
Pay by card – mark-up on foreign transactions posted in ZAR
Zero
Pay a debit order
Zero
Send proof of payment via email
Zero
Buy prepaid data, airtime, electricity, etc
Zero
Receive notifications on activity on account or profile
Zero
Receive monthly statement via email – also available from App
Zero
Request previous statements within 3 months
Zero
Request account confirmation letter
Zero
Card personalised & delivered to Clicks store
R69
Card personalised & delivered to street address in most cities (if remote +R30)
R119 (R159)
Request balance at ATM or at POS
R2
Withdraw cash at ATM – local & international
R9 / R1000 block
Withdraw cash at POS – PnP, Spar, Shoprite Group
R2
Withdraw cash without card – use SendMoney & cash-out at Shoprite Group
R8.50
Send cash to non-customer – use SendMoney & cash-out at Shoprite Group
R8.50
Deposit cash at POS – Shoprite Group (max R3k), PnP group (max R5k)
Ask retailer
Nuisance fees:
– Insufficient funds (card, debit order, scheduled payment/transfer)
– Exceeding chosen limits
– Card set to ‘Lock’ or ‘ATM off’, or card locked after 3 wrong PINs
– Using new card before activating it, or using old uncancelled card
R2
Send proof of payment via SMS (but email is free!)
R1.50
Add more check accounts
R100 to open
Request statements older than 3 months
R10 / statement
Receive money via Bank Zero QR code
0.5% of amount
Dispute or stop a debit order (or card transaction)
R8 (R30)
Forex mark-up on international card transactions posted in foreign currency
1%
Resetting App login PIN
R50
If no transactions on a check account for more than 6 months
R5/month
Monthly fee
Zero
Minimum balance
Zero
Set up a new business profile
Zero
Open more savings or notice accounts
Zero
Transfer money between accounts
Zero
Pay someone at another bank
Zero
Pay someone at Bank Zero
Zero
Pay someone at Bank Zero using their QR code
Zero
Pay someone at Bank Zero using their cell number (Send Money)
Zero
Pay by debit order
Zero
Pay by card (local or international card fee)
Zero
Buy prepaid data, airtime, electricity, etc
Zero
Send proof of payment via email
Zero
Receive notifications on all banking activity
Zero
Receive monthly statement via email (or download from App)
Zero
Request previous statements within 3 months
Zero
Request account confirmation letter
Zero
Cardless cash withdrawal (Send Money to self, cash out Checkers, Shoprite, Usave)
R8.50
Send Money to someone not at Bank Zero, cash out Checkers, Shoprite, Usave
R8.50
Draw cash at ATM (local or international)
R9/R1000 block
Draw cash at POS (PnP, Spar, Checkers, Shoprite)
R2
Balance enquiry at ATM or POS
R2
Nuisance fees:
– Insufficient funds (card, debit order, scheduled payment/transfer)
– Exceeding chosen limits
– Card set to ‘Lock’ or ‘ATM off’, or card locked after 3 wrong PINs
– Using new card before activating it, or using old uncancelled card
R2
Card personalisation plus delivery to a Clicks store
R79
Card personalisation plus delivery to a street address (metro; rural)
R139; R179
Send proof of payment via SMS (but email is free!)
R1.50
Open additional check account on individual or business profile
R100 to open
Request statements older than 3 months
R10/statement
Receive money via Bank Zero QR code
0.5% of amount
Dispute or stop a debit order (or card transaction)
R8 (R30)
Forex mark-up on international card transactions posted in foreign currency
0%; 1%
Resetting App login PIN
R50
If no transactions on a check account for more than 6 months
R5/month
Monthly fee on any account
Zero
Minimum balance in any account
Zero
Notifications on all your banking activities
Zero
Open more savings or notice accounts
Zero
Transfer money between own accounts
Zero
Pay recipient at another bank
Zero
Pay recipient at Bank Zero
Zero
Pay recipient at Bank Zero using their QR code
Zero
Pay by debit order
Zero
Pay by card
Zero
Buy prepaid data, airtime, electricity, etc
Zero
Send proof of payment via email
Zero
Receive monthly statement via email / download
Zero
Request previous statements within 3 months
Zero
Request account confirmation letter
Zero
Set up new business profile
Zero
SendMoney to Bank Zero recipient using just their cell number (max R3k)
Zero
SendMoney to self (max R3k): cardless cash at Checkers, Shoprite, Usave
R8.50
SendMoney to someone not at Bank Zero (max R3k): cash out at same retailers
R8.50
Draw cash at ATM
R9 / R1000 block
Draw cash at POS (PnP, Spar, Checkers, Shoprite)
R2
Balance enquiry at ATM or POS
R2
Nuisance fees:
– Insufficient funds (card or debit order or scheduled payment/transfer)
– Exceeding limits
– Card set to ‘Lock’ or ‘ATM off’, or card locked after 3 wrong PINs
– Using new card before activating it, or using old uncancelled card
R2
Card personalisation with delivery to a Clicks store
R79
Card personalisation with delivery to a street address (metro, rural)
R139; R179
Send proof of payment via SMS (but email is free!)
R1.50
Open additional check account on individual or business profile
R100 to open
Request statements older than 3 months
R10 / statement
Receive money via Bank Zero QR code
0.5% of amount
Dispute or stop debit order
R8
Dispute card transaction (i.e. chargeback)
R30
If no transactions on a check account for more than 6 months
R5/month
Whereas pricing is fixed for the year, interest rates tend to fluctuate as the repo rate moves.
So please always check back here for the latest rates. The below table is effective as from 26 May 2023.
Amount | Savings | 7 Day Notice | 32 Day Notice | 45 Day Notice |
<R1k | 6.95% | 7.00% | 7.05% | 7.10% |
≥R1k | 7.05% | 7.15% | 7.45% | 7.50% |
≥R25k | 7.35% | 7.45% | 7.85% | 7.90% |
≥R50k | 7.65% | 7.90% | 8.15% | 8.20% |
≥R100k | 7.70% | 7.95% | 8.25% | 8.35% |
≥R500k | 7.75% | 8.05% | 8.30% | 8.40% |
≥R1m | 7.80% | 8.10% | 8.40% | 8.50% |
Everything has been designed so that you have full control and do not need to contact us for help.
If you do still need assistance, email us at info@bankzero.co.za or WhatsApp us on 079 221 6628, but first check if your question is not answered below.
View your card PIN
Open your App, tap on the account tile menu of the account that this card belongs to. (The account tile meu is the 3 dots in the bottom right corner of your account tile.)
Select Card > select Card Details.
Forgot your App PIN?
Send an email to info@bankzero.co.za, and we will assist you with resetting your PIN. We might charge a R50 fee (as per our pricing guide), so please make sure that you have first tried all the various possible PIN combinations you could have chosen.
Turn daily emails on/off
This is not currently directly available in the App, so please send an email to info@bankzero.co.za so that they can turn it off for you.
Banking details – where to find them
Tap name on account tile. Or choose ‘Settings’ from account tile menu (by tapping 3 dots bottom right).
Transaction history – how to view / download
Tap account balance shown on account tile. (And tap specific transaction for even more detail.)
To download account history in excel format, scroll down to point from where to download, then tap top right excel icon.
Business banking on iPhone
Currently you can only add a business from an Android phone, but once added, business accounts can be managed from both iOS and Android. (Pair your profile temporarily to Android phone to add business and upload FICA docs.)
Add / edit / delete recipients
Add:
Drag tile to Pay bubble > Tap grey ‘+’ > Populate recipient details > Tap Add.
View or edit or delete:
Drag tile to Pay bubble > Tap dropdown arrow next to ‘Select Recipient’ > Tap pencil bottom right of recipient account tile. Remember to Tap ‘Update’ once done. To delete, tap dustbin right next to ‘Update’.
Online purchases – authorisations, time-outs, subscriptions
Auth sent as phone notification, not SMS. No need for App to be open but phone must be unlocked. (If no notification, restart phone before trying again.)
If online store displays Mastercard auth screen, you have a minute to auth the notification on your phone.
If online store doesn’t display Mastercard auth screen, the notification time on your phone is short and might time-out. After 2 time-outs, store will be auto-added to your Card Subscriptions list. It will be marked with a ‘X’. If you want us to bypass you in phone auth notification process, tick store name. This is helpful when you’re not on your phone when transaction is posted (e.g. online news sites or other regular services like Netflix or an Uber tip).
Note: Card Subscriptions does NOT apply to the auths where you have a minute to auth.
Tap on account tile menu (dots bottom right of relevant account) > Card > Card settings to see Card Subscriptions. Tick/untick at will.
Bank statements / letters
Account confirmation letter was sent with Welcome email. Statements sent on 1st of every month. ‘Statements and letters download’ temporarily disabled on App – request directly by emailing info@bankzero.co.za.
How to change profile picture after registration
Once your profile is verified, you’re not allowed to change your profile picture, as this image is used when confirming your biometrics when repairing or pairing on an additional device.
ATM Settings
Card’s ATM setting reflected in colour of flower’s heart on account tile.
‘Always off’: flower heart white, card won’t give cash at ATM.
‘Always on’: flower heart orange, card used freely at ATM.
‘1 cash’: flower heart white or orange, depending on whether one cash withdrawal completed or not. Once withdrawal done, heart changes to white. When want to draw cash again, tap flower to turn it orange and ready for cash withdrawal. (I.e. real-time toggle which can only be used when card is on the 1-cash setting.)
Tap on account tile menu (dots bottom right of relevant account) > Card > Card settings > ATM options.
Pairing
You can link your Bank Zero profile to multiple phones.
If no Bank Zero App on phone:
Download App > Enter cell number & ID number > App will take you through a verification process.
If Bank Zero App already used by someone else on phone:
Tap ‘profile add’ icon on top right of login screen and follow above process.
When is my card arriving
Card personalisation kicks off 9pm after your account has been funded and card costs deducted. You’ll receive an email with your unique card journey dates. Without any funds in your account, card production will not start.
How to activate card
Important, otherwise you’ll incur a nuisance fee.
Tap on account tile menu (dots bottom right of relevant account) > Card > Activate card
Multiple cards on one account
Can only do one card per account, but can open multiple accounts on same profile (with/without their own cards.
Change card delivery / collection address
Email us at info@bankzero.co.za and we’ll attempt to change this with our couriers.
Card taps
Tap on account tile menu (dots bottom right of relevant account) > Card > Card settings. Scroll down to ‘secure small amounts with PIN’ and tick to enable. Remember to save your changes.
“No PIN for small amounts”: tap your card without a PIN < R500 and with PIN > R500. Please ensure that you read the disclaimer shown to you when you untick.
“Always enter PIN for small amounts”: PIN required for every transaction. Some merchants decline small amounts with PIN – then just redo and insert card.
Child registration (under 16)
Child must have own unique cell number. Tap grey ‘+’ sign on YOUR canvas > Select ‘Add child’ > Provide info and upload birth certificate or passport.
Once done, download App on child’s phone or add their profile to your phone, and follow shortened registration process. (They won’t receive SMS invite.)
If child older than 16, they open their own profile.
Business registration – requirements
First open account for yourself, then add business via your profile. We require all CC members / company directors, shareholders and ‘ultimate beneficial owners’ to open individual accounts with Bank Zero to view the business account. Once they are FICAed, the business account will be opened.
Tap grey ‘+’ sign on YOUR canvas > Select ‘Add business’ and follow the instructions.
Business registration – R500 funding
All business accounts need to be funded an amount of R500 from one of your existing accounts. This is not a fee to us but funds that lie in the business account. (If none of your accounts have a min R500 balance, no accounts will be shown to pay from and you won’t be able to proceed.)
Who can open a Bank Zero account?
Any South African citizen or permanent resident with an official South African ID number. Proof of address
We accept any of the following docs in your name, or if you are staying on someone else’s property and have no PoA, we need their PoA and a letter stating that you reside on their property: Municipal bill/letter, Cell/fibre account, Security provider account, Rental agreement, Body corporate statement, bank statement, insurer or medical aid statement, Retailer account, Motor vehicle doc, Official SARS doc, TV licence, Subscription TV statement, E-toll statement, Traffic fine, Tribal authority letter.
We take complaints seriously. See our formal complaints process below.
Follow us on Social Media
The legal contracts and regulations
that govern our interaction
Bank Zero Mutual Bank (MB0001). Authorised financial service provider (FSP No: 50870)