The nitty-gritty of Money 24

How to open a Money 24 account.

How to open a Money 24 account.

l Minimum deposit is R10000.

l Additional deposits of R1000 or more can be made at any time.

l Monthly stop orders are available, but only from Nedbank cheque or savings accounts. A minimum stop order is R1 000.

l Partial withdrawals (minimum R1 000) are permitted, provided the minimum deposit of R10 000 is maintained.

l Interest is calculated daily and can be paid or capitalised monthly.

l Monthly statements are issued.

l Limited digital banking functionality is available.

l Competitive interest rates are tiered according to the balance.

l Only 24-hours notice is required to withdraw funds, except where the following day is a Sunday or public holiday - in which case the funds will be paid out the following business day.

l All cheques deposited are subject to a clearance of seven business days.

l If interest rates rise, the higher rate will apply immediately.

l Interest rate decreases are also applied immediately.

l This account is only available to individuals and small business services clients.

l Nedbank offers the Money 24 Investment Account, which is a money market investment account.

It offers tiered interest rates and short-term accessibility.

You enjoy access to your funds within 24 hours.

No transactional facilities are available.