bidvestbank.co.za Account Online Application : Bidvest Bank

Organisation : Bidvest Bank Limited
Status of Facility : Bidvest Bank Account Online Application
Head Office : Johannesburg
Website : https://www.bidvestbank.co.za/personal-banking/banking/banking-for-individuals.aspx

How To Apply For Bidvest Bank Account Online?

** Looking for a basic savings account, fixed deposit account, or wanting to invest money overseas? There’s a personal deposit or investment product for you that comes with saving period options at highly competitive interest rates.

Related / Similar Service : Bidvest Bank Grow Account Online Application

Overview

** Whether you’re looking to invest your money or simply want a safe place to keep it, there’s an account that suits your needs.

** Investors can choose from short term Fixed Deposits from as little as one month, to more flexible Call Accounts for unlimited investment periods. Of course, for those wanting to take their money even further, a Bidvest Bank Foreign Currency Account allows you to invest offshore, while the Notice Account is an investment account that allows you more flexibility

Call Account

** Save and earn interest while having access to your money
** With call deposit accounts, withdrawals and deposits can be made at any time, offering you convenience and flexibility on your investment.

How it Works :
Opening an Account :
** To open a Call Account, you’ll need a minimum investment of R 1,000.00
** Additional funds can be deposited anytime.

Withdrawals :
** Partial access to your money is available whenever you need it, usually within 24 hours.

Deposits :
** Cash and EFT deposit are accepted.
** Cheque deposits carry a 10 business day hold.
** Cash deposit fees are applicable.
** No debit order or stop orders are allowed.
** Funds can be held in the account for an unlimited investment period.

Fees :
** Fees will be charged in accordance with Bidvest Bank’s fee schedule.
** Cash deposit fees are applicable.

Interest Rates :
** The interest rate depends on the amount deposited.
** Choose to capitalise your interest or have it paid out monthly to a nominated account.
** Changes in interest rates are effective immediately.

Notice Account

** Flexible investment periods from as little as 41 days

How it Works :
Opening an Account :
** To open a Notice Account, you’ll need a minimum deposit of R5,000.00 up to a maximum of R10 million. The amount deposited need not be fixed and you’re able to transfer additional funds into your account during the period.

Withdrawals :
** A Notice of Withdrawal form must be completed for both partial and full withdrawals* that can be made after the notice period is over.
** Early withdrawals carry a fee of 1% of the amount withdrawn with a minimum of R400.00.

** Once the notice period has lapsed, you’ll need to advise for funds to be transferred. Without notification your funds will be automatically transferred into a Bidvest Bank Call Account
** *All withdrawals must exceed R1,000.00.

Interest Rates :
** Interest rates apply for investments up to R10 million.
** Interest rates for investments over R10 million will be determined on application.
** The nominal rates are indicative only and are subject to change without prior notice.
** All nominal rates are quoted on a nominal annual compounded monthly basis.

Fixed Deposit Account

Opening an Account :
** A minimum of R10 000 is required.
** Choose the deposit period you’d like – from 1 month up to 12 months.

What we need from you :
** Green bar coded identity document
** Proof of address (utility bill or similar)
** Proof of deposit (if customer is doing EFT)

You will need to complete and sign :
** An application form
** Terms and Conditions
** FAIS disclosure form

Withdrawals :
** Early withdrawals are charged a fee, which we’ll calculate on request.

Interest :
** Interest is calculated daily and payable monthly, or on maturity.
** Monthly interest can be paid into a nominated account or transferred to a call account.
** Earn higher interest for an investment period from 1 – 12 months

Foreign Currency Account

Annual Foreign Investment Allowance :
** South African residents over the age of 18 are entitled to an individual foreign currency transfer up to a maximum of R10 million per annum.

Investing Locally :
** A Bidvest Bank Foreign Currency Account allows you to invest your money locally in one of the foreign currencies available: US Dollar, British Pound, Euro or Australian Dollar. The US Dollar, GBP and AUD account may earn interest but remain in a South African-held and operated account.

Investing Overseas :
** In this case we assist you in transferring your funds to the overseas financial institution or investment firm via telegraphic transfers or bank drafts.

Requirements :
To qualify you’ll need a minimum deposit of R25,000.00 and the following documents :
** A copy of your green bar-coded ID book confirming you are above the age of 18.
** A South African Revenue Service tax clearance certificate is needed for investments over R1 000 000. To obtain this certificate, submit an application for a Tax Clearance Certificate directly to SARS.

** A completed copy of the South African Reserve Bank investment allowance control sheet.
** Proof of address.

Features of Bidvest Bank

Bidvest Bank is a South African financial institution that offers a range of banking and financial services. Some of the features of Bidvest Bank include:

Foreign Exchange Services:
Bidvest Bank offers a range of foreign exchange services, including currency exchange, travel insurance, and travel money cards.

Business Banking:
Bidvest Bank offers a range of business banking services, including business loans, commercial property finance, and cash management solutions.

Personal Banking:
Bidvest Bank offers personal banking services, including transactional accounts, credit cards, and personal loans.

Investment Products:
Bidvest Bank offers a range of investment products, including fixed deposits, call accounts, and notice accounts.

Additional Simplified Procedure

Here are the steps on how to apply for a Bidvest Bank account online:
1. Go to the Bidvest Bank website: https://www.bidvestbank.co.za/.
2. Click on the “Open an Account” button.
3. Select the type of account you want to open.
4. Enter your personal information, such as your name, ID number, date of birth, and contact details.
5. Enter your employment information, such as your employer’s name, your job title, and your income.
6. Enter your banking information, such as your bank account number and your bank’s contact details.
7. Read and agree to the terms and conditions.
8. Upload a copy of your ID document and proof of address.
9. Click on the “Submit” button.

Your Bidvest Bank account application will be processed within 48 hours. If your application is approved, you will receive an email confirmation with your account details.

Here are the required documents for opening a Bidvest Bank account:
** Valid ID document (South African ID number, passport, or driver’s license)
** Proof of address (utility bill, bank statement, or credit card statement)

If you are a student, you may be able to open a Bidvest Bank account without proof of income. However, you will need to provide proof of your student status, such as a student card or a letter from your school.

Here are some additional tips for applying for a Bidvest Bank account online:
** Make sure you have all of your personal and financial information ready before you start the application process.
** Read the terms and conditions carefully before you agree to them.
** If you have any questions, you can contact Bidvest Bank customer service.