Everyone has an account that best suits their needs – with so many innovative ideas that Absa can implement, there will always be an account for everyone. A MegaU no monthly fees account you get more than you can bargain for. This account is merely designed for minors under the age of 19 years of age.
It makes sense, The MegaU account comes with an App designed to ensure you will be able to manage your money. Even though you pay no monthly fees, you get free card swipes and free ATM cash withdrawals.
With that being said, you still get free 100MB data per month of which you can use to browse the internet and keep in touch with your friends and family via social networks, etc.
MegaU also provides discounts at selected food outlets and free Kidz activities lessons such as Aquatots, MiniChess, Young Engineers and many more.
MegaU features
- There are no monthly fees for a MegaU Youth account
- When you deposit your first R500 at an Absa ATM or Cash Acceptor you will not be charged a fee.
- You can withdraw cash for free at any Absa ATMs
- You get free debit card purchases as well as Absa ATM balance inquiries
- Free eStatements as well as internal debit orders and stop orders
- Free Cash Back at any point-of-sale in South Africa
- Up to 30% off on flights with Rewards Lite
- International transactions will cost you a small fee.
Your account gives you discounts in selected food outlets such as McDonald’s, Debonairs, Steers (when ordering online) or Nando’s.
iRead: Absa Student Credit Card
Your account has to maintain at least R300 per calendar month or make 4 banking transactions per months and at least 2 of them must be prepaid transactions.
Download the MegaU app to redeem benefits and or dial *120*733# and follow the prompts.
MegaU requirements
- If you are between the ages of 16 and 19, you will have to produce a valid SA ID or Smart Card ID or a valid Passport together with proof of residence not older than 3 months.
- If you are under the age of 16, if Registering for the Absa MegaU Youth Account using the MegaU app, you will need an original unabridged birth certificate of the minor (In this regard, a parent of the minor should be an existing Absa customer)
- However, when you are under 16, and opening the account at the branch, Absa will need from a parent, an original copy of the minor’s birth certificate, parent’s or guardian’s proof of residence that’s not older than 3 months as well as parental consent for the opening of the Absa MegaU Youth Account for a minor. Furthermore, an ID document or Smart Card ID of the parent or guardian is needed.
You will be able to check balances available to you 24/7 when using the MegaU App and you will be able to earn cash as well as monthly rewards.
Access the Absa MegaU Youth Account for more information, you can call 0860 100 372, or visit the nearest Absa branch for further assistance. Absa is an Authorized Financial Services Provider and a registered credit provider (NCRCP7)
South African COVID-19 Information Portal
iBusiness on COVID-19
