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About African Bank
African Bank Limited is a South African retail bank that provides financial goods and services. The South African Reserve Bank has granted the bank a license as a “locally controlled bank” (SARB). The bank, headquartered in Midrand, South Africa, offers a nationwide branch distribution network, as well as a full digital channel offering and sales, collections, and customer support Contact Centres.
African Bank Limited had total assets of ZAR:28.881 billion as of 30 September 2019, with shareholders’ equity of ZAR:10.659 billion. The bank, its subsidiaries, and affiliates employed 3,886 individuals at the time.
How African Bank Gained It Name
African Bank Limited was founded on July 31, 1975, as a subsidiary of African Bank Investments Limited, a bank holding corporation listed on the Johannesburg Stock Exchange at the time. The original African Bank Limited was placed under curatorship by the South African Reserve Bank on August 10, 2014, in accordance with the South African Banks Act, Act 94 of 1990.
The South African Reserve Bank published a restructuring proposal, which was supported by a consortium of six South African banks and the Public Investment Corporation. African Bank Holdings Limited, a new banking organization, was formed to take over the previous bank’s viable assets and some of its liabilities. Residual Debt Services Limited was established to replace the legacy bank and the compromised portion of the business (RDS). On April 4, 2014, RDS relinquished its banking license.
African Bank Payment Arrangements
Whether you wish to negotiate a payment arrangement or accelerate payment to minimize arrears on your account, African Bank will assist you online beyond normal business hours.
Mobile or Debit Order
Log in to pay your African Bank account online with a Visa or Mastercard, or to set up a one-time or recurring debit order deduction from your bank account.
You can also use your cell phone to dial *120*225#. Please keep in mind that payment via Visa or MasterCard is not currently accessible on *120*225#.
Use your unique EasyPay or Pay@ reference number found on your statement to make a payment at the following outlets:
EasyPay: Shoprite Checkers, Pick n Pay, PEP, Boxer, Woolworths
Pay@: Ackermans, Shoprite Checkers, Pick n Pay, USave
Or alternatively, call 011 207 4500 to get your EasyPay or Pay@ number.
At our African Bank branches, you can pay using a cheque, debit, credit, or SASSA bank card. Cash payments are available at a limited number of branches.
EFT from your bank
To make an electronic payment, select African Bank from your Internet Banking beneficiary list.
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