With a Money Account from Old Mutual, you can automatically invest a set amount into a unit trust every time you make a purchase by swiping your card. Gain greater control over your finances, get free access to online purchases, inter-account transfers, unlimited point-of-sale swipes and most importantly, watch your money grow. Make the decisions today that will give you financial freedom tomorrow. Sign up for an Old Mutual Money Account.
Saving isn't always easy. There are debts to pay, groceries and day-to-day items to buy and, of course, a few little spoils that you deserve to enjoy from time to time. Then, there are those unexpected expenses that creep in, like a broken fridge, car service or emergency trip to the dentist. Saving is the best way to make sure you're prepared for these financial emergencies - taking a lot of the stress out of daily life. So how do you gain greater control over your personal finances?
What if, little by little, you could save money every time you swiped and your transactional card could automatically save money for you? Plus, you could instantly access these savings whenever you need to. With an Old Mutual Money Account, you'll get a SWIPE account, in association with Bidvest Bank Limited* and a SAVE Account, which is invested in the Old Mutual Money Market Fund**. Swipe, Save, Switch.
Sign up for a Money Account here.
*In association with Bidvest Bank Limited.
**As administered by Old Mutual Investment Administrators (Pty) Ltd, a licensed financial services provider.
The Old Mutual Money Account has a number of useful tools that can help you get into the habit of growing your personal savings.
With the optional SWIPE & SAVE feature, you can automatically add to your SAVE account every time you swipe your card. You can set your SWIPE and SAVE percentage to be anything between 1-15% of your total daily spend - giving you control over how much you feel comfortable saving.
So, let's say you spend R100 on groceries and you've set your SWIPE & SAVE percentage to 10%, then an extra R10 will be added to your SAVE account, automatically. In total, R110 has moved from your SWIPE account - R100 for the groceries and R10 which has automatically gone into your SAVE account.
If you'd like, you can choose to have a fixed amount automatically transferred from your SWIPE account to your SAVE account every month. The best way to do this is to set your FOCUSED SAVE date (when the money is automatically transferred) to the day that you get paid. This way, there are always funds available to save.
So, let's say you've set your FOCUSED SAVE transfer to R200, then R200 will be automatically added to your SAVE account every month on the date that you've chosen.
Your SAVE account is linked to the Old Mutual Money market Fund Unit Trust, which gives your money higher growth potential than your savings in a normal bank account. Also, you don't have to wait to access your money like you would with most investments - you can access it instantly, at any time.
Simply transfer the money you need from your SAVE account to your SWIPE account and you can swipe to make purchases immediately. Making a transfer is as easy as using our Mobile Banking App, Cellphone Banking or Internet Banking - whichever you prefer.
We understand that safety and security is crucial when it comes to managing your personal finances, so we've made it a top priority with these features:
Keep your card details safe by using our unique on-and-off feature, which allows you to turn your card off when you're not using it. You can use your cellphone, the Internet or the Old Mutual Mobile Banking App to quickly and easily turn your card on and off, so that no one else can use it. This is an extremely helpful feature if it falls into the wrong hands, and immediately helps you take control of the situation.
We want to ensure that your online transactions are safe, which is why we use the latest and most advanced security software to cover your Internet purchases. Apart from for the secure and protected portal you will also be required to authorise the transaction on your phone before it goes through protecting you from unauthorised Internet purchases being made on your account without your consent.
|First card issue||Free|
|Monthly admin. fee||R4.50|
|Store cash withdrawal||R2.50|
|Cash withdrawal at any ATM (first 4 per month)||R8.50|
|Returned Debit order||R4.00|
|Cash Deposit at Pick n Pay & Boxer retailers||R4.00|
Download the full fee structure.
There are 3 ways to deposit money into your SWIPE account:
Make cash deposits at any standard Pick n Pay or Boxer store, of up to R5 000 per/day.
EFT money into your account by using your Money Account banking details, just like you would with any other online or mobile payment.
The once-off process before you start:
To switch your salary and debit orders, you must download, complete and sign the switching forms then submit it to us along with a copy of you ID using one of the options below:
Contact our Service Centre on 0860 222 252 for more information.