South Africa’s banking system is sophisticated, and electronic banking is well established. All the major banks offer a broad range of services, including internet banking. There are a great many ATMs (Automatic Teller Machines) situated throughout the country. Cash withdrawals,inter-bank transfers, account payments can all be made at ATMs. When selecting a bank it is advisable to select one of South Africa’s well-established national banks with international affiliations.
If the company you are transferring to has a locally established banking relationship, it is recommended that you have your personal account with the same bank.
The major retail banks in South Africa are:
- Standard Bank | www.standardbank.co.za
- First National Bank | www.fnb.co.za
- Nedbank | www.nedbank.co.za
- ABSA | www.absa.co.za
- Investec | www.investec.com
