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(sum)1 is a revolutionary account that has changed the world of banking. It's jam-packed with
benefits that place you in control of how you enjoy your money. You get to choose how and when you spend
your money. The account also has a savings pocket that earns great interest, to help you save for the things
you really want.
Who can have it?
Anyone under the age of 19, or scholars up to the age of 21.
How does it work?
- Quick start your savings pocket. Your (sum)1 account has a built-in savings pocket. We recommend
you keep a minimum of R20 in the savings pocket to kick-start your savings. To help you to realise your dreams
quicker, we pay you interest at very attractive rates. You can transfer money from your spending pocket to
the savings pocket at a branch or AutoPlus machine. And, to help you to resist those urges to spend, you
can only draw from your savings at a branch.
- Plastic cash. Use your debit card to pay for your shopping wherever you see the Maestro sign.
No cash. No fuss. Simply swipe your card, enter your PIN and the money is taken directly out of your account.
Also, you can only spend on your card if there is money in the spending pocket, so you won't get yourself
into trouble spending money you don't have.
**Remember that to use the vouchers in your Phatstuff magazine, you need to pay with your
(sum)1
card at the participating stores.
- Cash withdrawals at an ATM. When you need cash, you can withdraw the amount you need from an ATM. Remember
that it costs less to use an AutoBank than withdrawing cash at one of our branches.
- Cash withdrawals at shops displaying the Maestro sign. You can draw cash at all shops displaying the Maestro
sign. Swipe your card, enter your PIN and the cash you need is yours. It costs less than withdrawing cash at an
AutoBank or at one of our branches.
- Electronic account payments. You can pay your accounts (for example, your clothing account) or a person
(for example, your mom) at an AutoPlus machine, through Internet, telephone or cellphone banking. You simply load
the details of the company or person you are paying to your account using Internet banking or at your nearest branch,
and you can pay them whenever, wherever. Ideal for those far away or difficult to reach.
- Debit orders. Do you need to pay monthly bills like your rent, cellphone or store card? Arrange a debit order
with the company you have to pay. All you ask them for is a debit order form to complete and sign.
- Stop orders. You make the arrangement with us to pay whomever you specify, for example, your rent. You will
need to ask your branch to load the stop order to your account.
- Go direct. Your (sum)1 card is an AutoBank card and gives you access to any of our
self-service banking channels - AutoBank, AutoPlus, Internet, telephone
and cellphone banking. So if you want to do your banking after hours or you're stuck for cash at 4am, your card
can bail you out.
- Be your own money manager. To avoid the temptation of spending your entire allowance or salary, deposit
it straight into your (sum)1 account.
There's nothing worse than being broke at the end of the month. To make sure you get your allowance or salary on time
every month, simply ask your parents or your boss to pay your money directly into your account. They can use a stop order
or electronic payment. Once your money is in your account you decide how you want to spend and save it.
- Top-up airtime. Out of airtime? Recharge your cellphone airtime at any AutoBank, or through cellphone
or telephone banking. This service is free of any bank charges.
Click here to apply for your (sum)1 account.
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