The Absa Student Bank Account is designed exclusively for full-time students aged 18–27, offering zero monthly fees and unlimited everyday banking at no cost.
You get a R 50 food or grocery voucher on account opening, free Absa Rewards membership with real-cash back, and unlimited free ATM withdrawals and deposits up to R 2 000. Manage your money 24/7 via Internet Banking and the Absa App with no transaction fees, plus enjoy embedded perks like R 5 000 life cover and CashSend® transfers.
Tip: A budget calculator can help you manage your monthly budget.
Who Is It For?
This account is perfect for South African students aged 18–27 who are enrolled full-time in an undergraduate or postgraduate qualification of one year or more. There is no monthly account fee, so it’s affordable even if you have irregular income or rely on allowances.
*The information reflected above is subject to change. Refer to the banks website directly.
| Age Requirement | 18 – 27 years old. Must be a full-time student studying towards an undergraduate or postgraduate degree, or qualification of one year or more |
| Monthly Fee | Free |
| Cash Withdrawal Fee - Bank Branch | Free |
| Cash Withdrawal Fee - ATM | Free |
| Cash Deposit Fee - ATM | Free up to R 2,000; after that R 1.60 per R 100 |
| Purchase Fee - Debit Card | Free |
| Transfer Fee - ATM | Free |
| Internet Banking | Free |
| Balance Enquiry - Bank Branch | Free |
| Balance Enquiry - Own Bank ATM | Free |
| Features | • Unlimited free Absa ATM cash withdrawals and cash deposits • Free debit orders and stop orders • Free local debit card swipes • Free prepaid purchases and in-app notifications • Free CashSend® • R50.00 food or grocery voucher when opening the account |
| Notes | Get the best interest rate on your Study Loans |
Absa Student Account features
Zero monthly fee
Enjoy completely free banking throughout your studies, there’s no monthly maintenance fee, so you can focus on your future, not your finances.
Unlimited free ATM transactions
Withdraw or deposit cash at Absa ATMs with no charges, up to R2 000 per deposit, giving you easy access to your money when you need it.
Free debit card purchases
All local swipes and prepaid transactions come with zero fees, so you can shop stress-free on campus and beyond.
R50 welcome voucher
Get a head start with a R50 food or grocery voucher just for opening your student account.
Absa Rewards membership
Earn real cash back on eligible spending with no added cost, thanks to automatic membership in the Absa Rewards programme.
R5 000 life cover
Stay protected with automatic life cover worth R5 000, giving both you and your family peace of mind during your studies.
CashSend® transfers
Send money to any mobile number in South Africa, even if the recipient doesn’t have a bank account, ideal for quick, flexible transfers.
Free digital banking
Stay in control of your account anytime, anywhere with free Internet Banking, the Absa App, and instant in-app alerts.
How to Qualify & Apply
To open, you must be 18–27 years old, a full-time student, and present a valid South African ID (or passport) plus proof of registration.
Online: Apply instantly via the Absa website or Mobile App.
In-Branch: Visit any Absa branch with your documents to apply in person.
Important Notes
All “free” services apply only to transactions at Absa ATMs and branches; fees may apply for non-Absa ATMs or external channels. Ensure you complete five banking transactions (two must be prepaid) each month to maintain lifestyle benefits like the R 50 voucher and Rewards eligibility
Keep up with your financial status. Log on to JustMoney to check your credit score today.