How To Choose The Best Bank Account In South Africa | Money Marx

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One of the most important, but often overlooked things in personal finance is having the right bank account for your specific needs. I mean, we all need a bank account, that is obvious, but seeing that some of us need more sophisticated banking while others just need the basics, it is important to know how to choose the right account.

And seeing that there are a paralyzing amount of options available on the South African market, it can get quite overwhelming to decide which bank account to choose. And, I know, it is not the most exciting thing to research, so to save you a lot of trouble, I will go through all the tedious work to give you a quick and easy-to-follow guide on which bank account you need to take out.

So in today’s video, I will go through the different types of bank accounts that are available, which types of products each bank provides and I will give you 5 important things to consider when deciding on a bank account.

Youtube Chapters:

00:00 Introduction
01:07 Types of bank accounts
05:06 Types of bank products
09:07 5 Important things to consider when opening a new bank account
14:23 Take home message

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DISCLAIMER

The information shared by Money Marx is for educational and informational purposes only and should not be taken as Financial, Tax, Legal, or Investment Advice. While Pieter de Villiers is registered under the Financial Sector Conduct Authority (FSCA) and operate within the framework of the Financial Advisory and Intermediary Services (FAIS) Act, the content provided on this channel, in courses, and across all platforms does not constitute Personal Financial Planning or Advisory Services.

All information is general in nature, based on factual data, principles, and publicly available information to help South Africans improve their financial literacy. Past performance is not a guarantee of future results, and all investments carry risk. You are responsible for your own financial decisions. For advice tailored to your personal situation, please consult a qualified Financial Planner that is registered with the FSCA.

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