What's new

Banking group Absa has launched rebranded verticle cards for all its bank accounts, featuring black and ‘smart-metal’ card offerings.

According to the group, the new card face is embossed with an African basket weave design, in line with its pan-African identity, and will be issued across segments – youth and entry-level through to wealth clients.

The smart-metal cards will initially be available to Private Banking and Wealth clients with availability to other segments considered for a later stage, it said.

The bank said it has fully switched to vertical cards, with the group’s digital cards on the Mobile Banking App also being updated with the new design.

“We recognise that cards are shifting to the mobile environment. Many of our customers already use digital payment methods for 80% of their transactions,” it said.

Security features on the cards include:

• The card will be vertical and contactless, with a 16-digit card number printed in a new easy-read format on the back of the card
• Personal Identification Number (PIN)
• Hologram
• Visa Brand Mark
• Expiry date
• Three-digit security code (CVV)
• EMV Microcomputer chip
• Magnetic strip

According to the banking group, the new cards are available to all customers – though those who are in a rush to get it will have to pay a fee.

• All new account holders will automatically receive the new Absa card
• If you already have an account and your card expires within the next three months, you will get a new card
• If you want a new card now, there will be a fee.

Fee changes

The group has also updated certain fee transactions for its Flexi-Account customers.

• Till-point withdrawals – Now free (Previously R2.00)
• Debit Card Swipes – R1.00 per transaction (Previously R4.00)
• Digital Payments – R1.00 per transaction (Previously R10.00)
• External Debit Orders – R3.50 per transaction (Previously R10.00)