Bank Zero App Reviews | All You Need to Know

If you’re wondering what people think about the Bank Zero App, here’s the truth – Bank Zero App reviews show that it’s one of the most innovative digital banking platforms in South Africa right now.

The Bank Zero App enables you to be fully in control of your cash with no month fees. The majority of Bank Zero reviews mention that individuals love its simplicity, security, and the fact that it does away with hidden banking fees.

Reviews of Bank Zero App also speak about how easy it is to open an account within minutes without ever having to go to a branch.

This introduction gets you in the right mood if you are considering making the jump over to Bank Zero or want to know what distinguishes it from conventional banks.

Here, you will discover all you need to know about the Bank Zero App, from how it works to what actual users have to say, so you can determine whether it is the correct option for your daily banking needs.

What is Bank Zero App?

Bank Zero App is a South African mobile banking service that came on board in 2021. It offers customers an all-digital banking experience with virtually zero monthly banking fees.

The app allows customers to sign up for a full-fledged bank account on their phones without visiting a branch.

Bank Zero is established by Michael Jordaan, the former FNB CEO, and a strong team of banking and IT experts. They wanted to create a bank that gives control back to customers, through easy, affordable, and secure banking.

How Does Bank Zero App Work?

Bank Zero App works just like any other banking app but with a little more focus on reducing your banking costs. You simply download the app, sign up with your details, and do a selfie for biometric identification, and your account is opened in minutes.

Here is what you can do on Bank Zero App:

Open a bank account instantly
Order Bank Zero Mastercard debit card
Pay beneficiaries and accounts
Make EFT payments to other banks
Purchase electricity and airtime prepaid
Make statements and repay
Manage your card PIN and security
Enjoy sophisticated security features for safe banking

Unlike traditional banks, you do everything on your phone with no paperwork or queues.

Also Read – Latest Infinix Hot 10 Price in Nigeria | Phone Reviews

What Makes Bank Zero App Unique?

The Bank Zero App is unique in many ways. Here’s why:

1. Zero Monthly Fees

The most favorable offer in the majority of Bank Zero reviews is that personal accounts bear no monthly banking fees. You only incur low transaction fees for certain services, such as R8 for debit card deliveries, R2.50 for cash withdrawal from ATMs, and EFT payments that cost approximately R1. These are lower than those of the majority of South African banks.

2. Fully Digital Banking

Bank Zero is a fully digital bank with no branches. This costs them less in operating expenses and they can offset the savings on to you in the form of low fees.

3. Stronger Security

The app is protected by end-to-end encryption and biometric login to protect your money and data. You can also quickly block and unblock your card on the app.

4. Business Banking Features

Small business owners love Bank Zero as it allows them to have zero-cost business accounts. The app also allows businesses to create several authorisers and signatories, which traditional banks charge extra for.

5. Card Control

Users have total control over their cards from the app. You can freeze your card if lost or stolen, reset your card PIN, thaw it when retrieved, and restrict payments.

What Are Users Saying? (Bank Zero App Reviews)

Bank Zero App Reviews from users of Google Play Store, Apple App Store, and online forums reflect both positive and a few negative reviews.

Positive Reviews on Bank Zero App

Easy and Fast Account Opening: The majority of users praise how easily and fast it is to open an account in the Bank Zero App. Verification and registration take less than 10 minutes for most.

No Monthly Fees: Users like that they don’t have to pay monthly fees as they would at regular banks. Students, freelancers, and entrepreneurs like that.

Superb Card Delivery Experience: Customers report that their debit cards reach them quickly and are easy to activate and utilize.

Superb Customer Service: Some Bank Zero reviews report that the customer care team receives a good response and help through in-app chat and email.

Superb Security Features: Customers feel assured with the knowledge that they can immediately freeze their cards and also have biometric login.

Negative Bank Zero App Reviews

Network Downtime Issues: Certain clients have experienced downtimes of the network while paying, which is frustrating.

Restricted Banking Services: Bank Zero still has limited services compared to major banks. For example, instant payment to other banks is not yet available, and it does not perform foreign transactions.

Cash Deposit Restrictions: Since Bank Zero lacks branches, there are no cash deposits accepted except at Pick n Pay or Boxer stores, and this is inconvenient for certain clients.

No Credit Products Yet: There are no credit cards, loans, or overdrafts offered by Bank Zero at this point. It is a transactional bank at the moment.

Is Bank Zero App Safe to Use?

Yes. Bank Zero is a licensed institution by the South African Reserve Bank and a member of the Payments Association of South Africa. It uses high-level encryption on all transactions. Your funds are insured under the same banking legislation as standard bank customers.

The app uses:

Biometric login (face or fingerprint)
One-time PIN (OTP) verification
Encrypted card information
Instant card block and unblock features

So your funds are secure as long as you follow common bank security guidelines like not sharing your PIN.

Also Read – Temu Reviews | Is Temu Legit or Scam

Who Can Use the Bank Zero App?

Anyone in South Africa with a smartphone can use the Bank Zero app—whether you’re an individual or running a business:

1. Students

Students who want to avoid monthly banking fees find Bank Zero convenient to monitor their allowance and casual employment income.

2. Freelancers

Freelancers appreciate receiving client funds without the worry of bank fees cutting their profit.

3. Small Businesses

Small enterprises that want to make payments, pay their suppliers, and payrolls online without bank charges per month find Bank Zero convenient.

4. Budget-Conscious People

Anybody who wants to lower banking costs finds Bank Zero App convenient for everyday banking operations.

Here is a simple guide on signing up:

Download the Bank Zero App from Google Play Store or Apple App Store
Launch the app and click on ‘Open Account’
Input your details as required
Take your selfie for identification authentication
Your account is live in minutes on approval
Order your debit card to be sent to your address

Bank Zero Fees at a Glance

Service	Fee
Monthly account fee	R0
Card delivery	R79 (one-off)
EFT payment	R1
Cash withdrawal from ATM	R2.50 per R1000
Prepaid purchases (airtime, electricity)	R0
Replacement of Card	R79

Fees apply from July 2025. Always check the Bank Zero website for the current fees.

How to Deposit Cash to Bank Zero

Because Bank Zero is branchless, here’s how you deposit cash:

Visit any Pick n Pay or Boxer outlet
Move to the Money Counter or cashier
Hand them your Bank Zero card and the amount you want to deposit in cash
Money will appear immediately on your app

It’s convenient for those still dealing with cash for business or personal transactions.

Also Read – Westbank Loan in South Africa: how to Apply

Pros and Cons of Bank Zero App

Thinking about switching to the Bank Zero App? It sounds exciting with its promise of zero fees and full digital banking, but is it really for everyone? Let’s break down the real pros and cons of Bank Zero App so you know exactly what you’re signing up for before clicking “Download”.

Pros

No banking fees per month
Easy account opening process
Good for students and small businesses
State-of-the-art security features
Complete card control through the app
Low and clear transaction fees

Cons

No credit products yet
No cross-border transactions
Limited physical cash deposit facilities
Routine reports of network outages

Frequently Asked Questions

Is Bank Zero a bank?

Yes. Bank Zero is an entirely licensed commercial bank governed by the South African Reserve Bank and offering actual banking services.

Does Bank Zero offer loans or credit cards?

No. Bank Zero only has transactional banking via debit cards currently. It does not have loans, overdrafts, or credit cards yet.

Can I use Bank Zero to get my salary?

Yes. You can receive your salary, payments, or any EFT transfers into your Bank Zero account like any bank.

Does Bank Zero work for businesses?

Yes. Small business can open accounts, have multiple signatories, and pay without monthly banking fees.

How do I contact Bank Zero customer care?

You can contact Bank Zero via in-app chat or via email support@bankzero.co.za for any issue.

Conclusion

Bank Zero is a solid contender among South African online banks, with no monthly fees, robust security, and user-friendly features. It’s ideal for the value-conscious, students, freelancers, and small businesses seeking cheap banking.

But for those who need credit products, foreign exchange, or business features, they may require a mainstream bank on top of Bank Zero. Overall, it’s a good option for customers who appreciate cheap, hassle-free online banking.

If you find this piece useful, kindly leave a comment and follow for more updates

Facebook at Silicon Africa

Instagram at Siliconafricatech

Twitter at @siliconafritech.