Michael Jordaan, Bank Zero chair, says: “Advanced App-based banking is now available to 24 million South African smartphone users and their businesses. This brings huge fee relief (potentially in the billions), great features and full access – our youngest customer is 3 whilst our oldest is 80. That's just incredible."

Bank Zero opens fully and publishes 2022 Zero pricing guide

Bank Zero today released its new pricing for 2022. With all fees remaining exactly as they were in 2021 and 2020, it
sends a powerful message of Bank Zero’s intent to bring much-needed relief to both consumers and businesses.

Zero monthly fees, zero fees for debit orders, EFTs and card transactions – and zero fees when buying prepaid items such as data or electricity.

One of the key features of Bank Zero is that the zero fees and innovative functionality are the same for consumers
AND businesses. Until Bank Zero arrived the business sector had little relief from high banking fees on top of cumbersome paper-intensive processes.

As one customer tweeted: “This is game changing for the SME market!” Bank Zero sees huge opportunity in this space, with the South African SME market alone estimated at 5.6 million businesses.

The Bank Zero App caters for most South African businesses with turnovers from small to in the billions. (Although it
will not onboard listed companies and public sector-linked companies). Yatin Narsai, Bank Zero CEO, is

“pleasantly surprised by the higher-than-expected number of businesses registering during the closed roll-out, mostly (PTY) LTDs followed by CCs and then sole proprietors.”

Although Bank Zero only needs 100,000 customers to break even, their expectation is that they will end up bringing
relief to millions.

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