Bank Zero

Bank Zero is a South African neobank. It is a digital-only mutual bank providing all services through the app. It offers transactional and savings accounts, debit cards and other services to businesses and individuals. All monthly and annual fees on all accounts are zero. Clients can become shareholders of the Bank by holding specific cash investment products. The Bank does not plan to offer credit cards and loans. The cards can be used at all ATMs in South Africa to withdraw cash and check balance. ATMs cannot be used to deposit funds. The company was founded by banking innovator Yatin Narsai and tech entrepreneur Michael Jordaan, former CEO of First National Bank (FNB). Bank Zero was registered by the South African Reserve Bank in October 2018 and was launched in 2021. Zero competes with traditional banks as well as newly launched challenger banks such as Discovery Bank and TymeBank.

Head office address:
6 Georgian Crescent West
Johannesburg, Gauteng
South Africa
Website: bankzero.co.za

Last updated November 21, 2024