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Absa freezes and waives monthly fees on some accounts to provide relief to struggling customers


Absa said the monthly fee freezes and waivers will provide approximately R500 million in pricing relief to customers. Photo: Elvira Wood
Absa has decided to freeze monthly fees on a host of its bank accounts and to provide free banking to students.
The bank which in 2020 started regaining market share lost over the years while it was under the Barclays rule said the monthly fee freezes and waivers will provide approximately R500 million in pricing relief to customers.
The reason? To insulate its customers from further financial strain as the Covid-19 pandemic left many households in South Africa struggling to make ends meet. ....

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