Sign in to join the discussion or ask one of our experts another question.


Best South African Bank for Expats?


JennyK's picture
By JennyK - Posted on
29 April 2011
Hi All- I've been an expat in South Africa for just over four years and pretty much decided to open a bank account with Standard Bank for the obvious reason that it was the branch closest to my house and I was too lazy to walk elsewhere or research more extensively. Now, finally, I'm considering settling more permanently and suddenly my South African bank becomes important because, hey, I need a loan! Just wondering if any expats have been through this process and can recommend which bank is the most conciliatory toward offering foreigners a bit of cash to play with.
Stephanie Katz's picture
Offline
Last seen: 2 years 8 weeks ago
Joined: 06/04/2011

Hi-

If you've been with Standard Bank for four years I would say they're the most logical bank to approach because you have a history with them. Do you have a South Africa credit card? If you've been building a credit history here it will certainly help you in securing a loan. I haven't been through this process myself, but would also be interested to find out the outcome. Please let me know what happens!

Your rating: None Average: 1 (1 vote)
Sine's picture
Offline
Last seen: 5 weeks 4 days ago
Joined: 10/02/2011

Living in:
Brentwood, TN

From:
Born in Germany, American citizen, lived in Johannesburg 2010-2013

Sine's Website
Just saw this so my comment may be a bit late, but I just received some reader feedback on opening a bank account and wanted to pass it on. If you are a foreigner, you should think twice about choosing ABSA - apparently, they close your account and freeze your funds as soon as your visa expires, and even the letter from Home Affairs that everyone gets in such cases to tide you over until they issue the new visa will not make them relent. So, steer clear of ABSA.

I would also suggest staying with Standard Bank. We have had no such issues with them, and they seem okay, and I also don't think prices are that much different from bank to bank. One of my readers has suggested Investec for their excellent service but I don't know if they offer loans.

See full article with reader comments here: http://www.joburgexpat.com/2012/03/opening-bank-account-in-south-africa.html
Your rating: None Average: 1 (1 vote)

Post new comment

Please only respond to the original question. If you have a new question, click here
By submitting this form, you accept the Mollom privacy policy.

Comment Note

If you are not logged in, your comment will first be moderated before showing up on the page. Thanks for being patient. Please don't resubmit your comment when you don't see it appear immediately.

If you browser seems to hang when submitting a comment, please click here and reload the main Q and A Forum Page.

Read more posts about South Africa

Search Expat Arrivals

Become our local expat expert for your area!

Expat Arrivals is looking for contributors to make this the ultimate guide for international expats.

If you are an established expat who could make time to write useful information for expats in your city and answering forum questions from new and prospective expats, please contact us.

As our local expert you can have your profile showing on each page you publish, and will have an option to promote your website or blog.


Got a question about your new country?

X
You may login with either your assigned username or your e-mail address.
The password field is case sensitive.
, after login or registration your account will be connected.
Login with your Facebook account (Recommended)
Loading