By Zuko Komisa
The first product of its sort offered by a South African supermarket, Shoprite’s Money Market Account is now a full-fledged transactional bank account.
Customers of Shoprite’s Money Market account can now withdraw cash for a fixed R5 fee, making it the “lowest-cost bank account” in the country.
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Kaya Biz with Gugulethu Mfuphi spoke to John Olivier the General Manager of Financial Services at Shoprite to unpack the new offering.
LISTEN TO THE FULL CONVERSATION HERE:
According to Shoprite, customers can now skip long queues and high fees at ATMs by depositing and withdrawing cash at any till point at Shoprite, Checkers and USave supermarkets nationwide.
There are no monthly fees and every other transaction is free.
The retailer says that are also no debit orders or deductions, so customers are in full control of their money.
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