A bank account is an important asset for every human being. Mostly if you get funds every month especially if you’re a foreigner in South Africa. For Zimbabweans and other foreign nationals its quite obvious that you cannot survive in South Africa with your money under the carpet or pillow in a country where Xenophobic attacks happen so often. So we are going to explore at least five bank account alternatives for Zimbabweans and other foreigners in South Africa. These bank accounts do not require a work or study permit to open.
Note that the following banks can be utilized by any national. This means either a South African or Zimbabwean or Malawian or any other person. We only specify this post to foreigners in South Africa because they’re the majority of people who are struggling to find banks to secure their funds.
Now let’s explore the list of these banks.
1. Mukuru bank account alternatives
Mukuru is one of those banks that most Zimbabweans and other nationalities utilised as an alternative. With Mukuru you can send money, receive money, buy utilities and airtime. You can withdraw at any ATM in South Africa and has in office options of sending money home (to any country in the SADC Region). The account also comes with a bank card which you use to withdraw funds at any ATM in South Africa.
To open a bank account under Mukuru, you only need your passport, a R100 and to go in person and request to have an account. The process only takes few hours and you will be ready to utilize your account. The only thing is, its limited in terms of money you can store in that account. You can only store or save not more than R24 000.00 which is very unfortunate for someone who might want to save more than that in his account.
But you can still request to have your limits increased. If you want to open an account click here to visit their website.
2. Hello Paisa – bank account alternatives
Hello Paisa is one of the Bank account alternatives for foreigners including Zimbabweans, Malawians or any other foreign nationals in South Africa. With Hello Paisa you can receive money, send money via eft, you receive a bank card to withdraw money at any ATM in South Africa and you can buy utilities such as Electricity, airtime and more via banking app.
Another good thing about Hello Paisa is, if you’re foreigner from SADC countries you can send money home just like you do with Mukuru. One last good thing about Hello Paisa is you can shop online like any other South African bank account. And opening a bank account with them doesn’t require much but a your SA ID or Foreign ID or SA passport or Foreign passport (without permit).
Click here to visit their web page and open an account.
3. Telkom pay bank account alternatives
Telkom pay bank account alternatives is one of the best. With Telkom pay you can buy Electricity, airtime, receive or send eft and withdraw only at Nedbank ATMs in South Africa or at pick ‘n pay and you receive a virtual card to buy online. You can also send money to the South Africa’s neighbouring countries without any issue.
We considered this account the best because you can save money without limits meaning you can store any amount as we know so far. But the minimum withdrawal or deposit per month is R24 000. And monthly withdrawal and deposit limits via pick n’ pay is R3000.
Note: Telkom Pay is a digital banking, this means you wont receive a physical bank card but a virtual card which has card number and CVC. You can open any account and get more information by clicking here.
4. FNB Zero Account – bank account alternatives
FNB Zero account is one of those bank account alternatives for foreigners in South Africa. This means either you are from Lesotho, Zimbabwe, Malawi or Zambia you can open a Zero Account under FNB. They need your Passport or South African ID to open any account, you just dial *120*277# and put in your ID. If this option isn’t working because you’re a foreigner, you can find an agency who can help you for a small fee.
With FNB Zero Account you can utilize locally in South Africa like the previous two banks alternatives (Mukuru and Hello Paisa) but you cannot send money home. You can buy electricity, airtime and bank limited since you dont pay monthly fees. You also receive a bank card which you can use to withdraw money at any FNB or South African ATMs.
5. The last banking option is Vodapay
Voday pay is like Telkom pay but it has more limitations. With Vodapay you can send money or receive money from any one in South Africa. You can utilize it as an alternative banking system for yourself while in South Africa but you cannot send money to foreign countries.
To open an account you need your phone numbers and email address as well as a Vodapay app to begin. You can click here to open any account or learn more about Vodapay.