Bidvest Bank Grow Account Frequently Asked Questions


HOW AFFORDABLE IS A BIDVEST BANK GROW ACCOUNT™?
The Bidvest Grow Account™, has two pricing options, a Pay as You Transact option and an All-In pricing option. Please look at Fee Schedule for a full list of Prices

WHAT DO YOU NEED TO APPLY FOR A BIDVEST BANK GROW ACCOUNT™?

  • You need to be a South African Citizen with a valid South African ID.
  • You must bring along your valid South African ID (no driver's license accepted), proof of residence for FICA purposes and your mobile phone.
WHAT ARE ACCEPTABLE FICA DOCUMENTS?
  • An original South African green bar coded ID Book or a Smart ID Card
  • Passports, driver's license or temporary ID's will not be accepted.
  • Proof of your current South African residential address. The documents must reflect your name(s) / initials and surname together with your current residential address. Please note that proof of residence must be original and not older than 3 months.
WHERE CAN YOU DRAW CASH FROM?
  • We encourage you to transact on your card because you have access to unlimited POS transactions.
  • You can withdraw cash from a Shoprite, Checkers, Usave, Boxer or Pick 'n Pay store.
  • You can perform a cash withdrawal only or, you can withdraw cash with a purchase of goods.
  • Just inform the cashier that you would like to process a cash withdrawal, hand your card to the cashier, and you will be asked to enter your card pin to proceed with the transaction. Please make sure that the cashier gives you the right amount of money.
  • Your day of searching for an ATM belonging to your bank is a thing of the past. You can withdraw cash from any SASWITCH ATM.
HOW CAN YOU DEPOSIT MONEY INTO YOUR BIDVEST BANK GROW ACCOUNT™?
  1. Cash Deposit
    • Cash deposits can be made at any till point at selected retailers
    • Inform the cashier that you would like to do a mobile cash deposit
    • Make sure you have your WiCode from the mobie app ready and follow the prompts from the teller
    • The cashier will then select the option to make a cash deposit on the terminal
    • Hand the cash you would like to deposit to the teller
    • Cash is deposited and funds will immediately reflect in your account
    • The cashier should give you a receipt/slip as proof of the transaction
  2. Electronic fund transfer (EFT)
    • You can do an EFT into your Grow Account by using your Grow Account banking details.
    • Account Number - Your account number was provided to you during the acquisition process. Your account number is displayed on your Internet Banking and Mobile Banking App profiles.
    • Account Type - Savings
    • Bank - Bidvest Bank
    • Branch Code – 462005
  3. Switch Your Salary and Debit Orders
WHAT IS THE BRANCH CODE FOR BIDVEST BANK?
  • 462005
I HAVE FORGOTTEN MY CREDENTIALS
  • Contact the Bidvest Bank Call Centre on 0862 11 11 77 to reset your Internet Banking password or mobile app. Make sure that you have your cellphone with you. You will be required to validate the instruction to have your password reset. A one-time password will be sent to you via SMS. You will then be required to enter this one-time password and set your new password.
WHAT IS THE MINIMUM BALANCE THAT YOU MUST HAVE IN YOUR BIDVEST BANK GROW ACCOUNT™?
  • R50
CAN YOU DEPOSIT/TRANSFER FUNDS INTO YOUR SAVE ACCOUNT DIRECTLY?
  • No, you can only transfer money to your SAVE account from your Bidvest Bank Grow Account. This transaction is free so start saving today.
CAN YOU USE THE BIDVEST BANK GROW ACCOUNT CARD INTERNATIONALLY?
  • Yes, your Grow Account Card is a VISA card and can be used internationally. The service center should be informed of your travels and which countries you will be visiting. Our service center number is 0862 11 11 77
WHAT IS BIDVEST BANK EASY EQUITIES?
Bidvest Bank Easy Equities is a Fractional Share trading platform, where you can invest with no Minimums or platform fees.

It is easy:
  • You won’t find tricky tech, jargon or complex functionality here. We’ve kept things super simple so that your experience is quick, intuitive and fun.
It is cheap
  • We’ve jumped through all the legal and technical hoops to deliver you nice-price investing. No minimums, no monthly fees and super low commissions. Let’s not forget about Fractional Share Rights, which allow you to invest with whatever amount you can afford.
It is educational
  • Upping your investment know-how or honing your skills is as easy as checking out our research portal or FAQs, where we regularly post research, expert opinions and customer stories to help guide you in your journey. We’re also constantly engaging with our community on Twitter, Facebook and YouTube where you can chat to other investors and find helpful videos and tips.
We’ve got common purpose
  • We dream big and want to see all South Africans investing. That means rewriting the rules, breaking away from the norm and creating a culture of empowered savers. Who’s with us?
It is transparent
  • What you see is what you get. We’re 100% clear on all the costs and fees – your costs will be communicated upfront when you transact and you’ll also be given a breakdown of line items on your transaction invoice. Our cost profile is available to you at any time right here on our website!
DO I NEED TO CHANGE ALL MY BIDVEST BANK ACCOUNTS TO GROW ACCOUNTS?
  • No, you don’t have change at all, only one account is necessary. You will be able to see all of your accounts on the Internet Banking and the Mobile app.
WILL I BE ABLE TO TRANSFER FUNDS BETWEEN MY GROW ACCOUNT AND BIDVEST BANK ACCOUNT?
  • Yes you will be, you will be able to transact simply and easily using any of the channels you choose, Internet banking or Mobile App
WHAT ARE THE DIFFERENCES IN TRANSACTION FEES BETWEEN THE BIDVEST BANK ACCOUNT AND THE GROW ACCOUNT?
  • The Bidvest Bank account is a capped fee, starting from R22 with interest in stages. The Grow account starts at R6 for the PAYT or R175 for the All-In. You earn higher interest on your positive balance plus you get a Savings Account with no fees at 6% interest. Giving you more bang for your buck.
CAN I SAY NO TO SWITCHING TO A GROW ACCOUNT?
  • You can of course and it’s always your choice...
WHAT ADDITIONAL BENEFITS DOES THE GROW ACCOUNT OFFER?
  • Prepaid, Mobile App, higher interest rates, Bidvest Bank Easy Equities, cash deposits at retailers, tap and go, better security, free savings account, quick pay, and so much more...
HOW DOES SWITCHING MY BIDVEST BANK ACCOUNT TO A GROW ACCOUNT AFFECT ME AS THE CUSTOMER?
  • It doesn’t other than more benefits, your account number will stay the same if you migrate and you will gain access to the whole Grow world...
WILL I NEED TO LEARN A NEW ACCOUNT NUMBER WHEN I SWITCH TO A GROW ACCOUNT?
  • No your account number will stay the same and all your debit orders or EFTs into your account will remain unchanged.