Bank Zero promises low fees and rogue debit order, card-skimming protecting

We started much later than some of the other challenger banks in this market. But we’re gaining on them!

Michael Jordaan - Chairperson, Bank Zero

Bank Zero has implemented its robust EFT payments system and started testing ahead of the bank’s launch in the second half of the year.

It is successfully processing payments and debit orders as well as the buying of prepaid data, airtime and electricity.

The low-free bank claims it can provide more security from fraud than its established competitors, and that card skimming would be impossible.

Bank Zero doesn’t have entry-level accounts; all customers have access to all features such as free rogue debit order protection.

It promises an easy-to-use app.

The Money Show’s Bruce Whitfield interviewed Michael Jordaan, co-founder and Chairperson at Bank Zero.

Listen to the interview in the audio below (and scroll down for more quotes from it).

Bitcoin threatens banking as we know it… I wouldn’t rule out that in 10 or 20 years’ time all banking will be done via blockchain…

Michael Jordaan - Chairperson, Bank Zero

What took them [Apple and Facebook] so long? [referring to their foray into banking]… They are a bigger threat than the traditional banks in South Africa… It’s very positive for the consumer…

Michael Jordaan - Chairperson, Bank Zero

Banks will have to cut costs even more…

Michael Jordaan - Chairperson, Bank Zero

It’s a fascinating time to be alive and a fascinating time to be a banker!

Michael Jordaan - Chairperson, Bank Zero

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This article first appeared on 702 : Bank Zero promises low fees and rogue debit order, card-skimming protecting


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