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User friendly banking with Bidvest Bank

By Bidvest Bank
14-06-2011
Banks deal in money – accepting deposits, which can be withdrawn or transferred - and in credit, which they grant by approving loans. The Internet has simplified banking payment and transfer processes by eliminating the need for paperwork. In addition, online banking services have improved to allow for user-friendly features such as transaction reports, account histories and excellent securities.

Bidvest Bank provides a range of personal and commercial banking products that range from retail banking investment to personal savings, at competitive interest rates. We provide expert financial assistance – in the form of working capital loans, asset-based finance and excellent banking facilities (including Internet-based access) - for those seeking short and medium-term funding. Locate a Bidvest Bank branch in your province or contact us to enquire about our personal or commercial banking services.

Business banking with Bidvest Bank

Whether you’d like to start a new bank account or move an existing business bank account, Bidvest Bank can assist you. In addition to the granting of loans and advances, we’ve tailored a range of banking products that suits your unique needs, and which is accompanied by our consultants’ exclusive advice and support. The following products and services are a part of our dedicated business banking service:

  • Call account: Access your funds within 24 hours, and hold them in your call account for an unlimited investment period. Interest rates are determined by the balance in your account, calculated daily and capitalised monthly.

  • Notice deposit accounts: Bidvest Bank offers variable notice deposit accounts, where the interest rate is adjusted according to the movements of the Prime lending rate, calculated daily and capitalised monthly..

  • Fixed deposit accounts: Invest your funds for up to twelve months at a fixed interest rate for the term of your investment. Interest is calculated daily and is payable monthly or on maturity.

  • Customer Foreign Currency (CFC) accounts: Ideal for those companies who deal in export or import transactions, CFC accounts are designed to ease the process of foreign currency payments. Subject to South African Reserve Bank exchange control regulations, CFC accounts can be held in Australian Dollars, Canadian Dollars, Swiss Francs, Euros, British Pounds, Japanese Yens or US Dollars.

  • Corporate payment card solution: Taking advantage of the ease and convenience of online technology, Bidvest Bank has introduced a web-based platform linked to a Bidvest Bank call account that is held in your business’s name. Through this banking service platform you can activate and de-activate debit cards, load roaming cards, assign individual Personal Identification Numbers to the cards and monitor employee expenditure. Read about the benefits of the Corporate payment card solution.

Personal banking services with Bidvest Bank

With branches in provinces throughout South Africa, Bidvest Bank is well positioned to bring personal deposit and investment products to the South African market. Although well-known for our foreign exchange division (Rennies Foreign Exchange), Bidvest Bank has repositioned itself to provide a tailored range of personal and commercial banking services and products. Our personal bank account services include:

  • BidSave account: This savings/transactional account offers highly competitive interest rates and requires that you pay up to a maximum of only R67 including VAT per month on account transaction fees. You also receive a BidSave card, which can be used at any ATMs, stores and restaurants that display the Visa sign.

  • Call accounts: Requiring a minimum deposit of R1000, this bank account grants access to your funds within 24 hours, and the interest rate is determined by the balance in the bank accounts, calculated daily and capitalised monthly.

  • Notice deposit accounts: Requiring a minimum deposit of R5000, this banking account has a variable interest rate which means that the interest rate is adjusted according to movements in the Prime lending rate. This account has a flexible notice period ranging from 40 days to 120 days

  • Fixed deposit accounts: Requiring a minimum deposit of R5000, this bank account can hold funds for a period of one to twelve months at a fixed interest rate for the term of investment.

  • Foreign currency account (FCA): South African residents are entitled to a once-off foreign currency transfer of a maximum of R4 million for investment purposes. Personal bank account holders may choose to invest their money locally via Bidvest Bank in the foreign currency of their choice. Alternatively, they may select to invest their money in an overseas financial institution, in which case Bidvest Bank will assist with the transfer process.

Get banking services with Bidvest Bank

Although Bidvest Bank has been a leader in foreign exchange in Southern Africa for 150 years, we’ve added to our services to provide people and companies with banking products that save money.

Our attractive range of retail banking investment products includes call, notice and fixed deposits, while our personal savings/transactional account is suitable for individuals with a wide range of specific financial needs.

All of our bank services are available at highly competitive interest rates. Locate a Bidvest Bank branch in your area or contact us to discuss your unique banking requirements.