Old Mutual Bank

The Old Mutual Money Account is more than just a regular bank account—it gives you two accounts in one. It features a SWIPE Account for everyday transactions and a SAVE Account to grow your savings. This dual-structure system makes it easy to manage your spending and savings all in one place.

  • SWIPE Account: Perfect for everyday transactions like purchasing in-store or online, paying for services like DSTV, buying prepaid airtime, or even sending money to other Money Account holders via the QuickPay feature.
  • SAVE Account: A dedicated account where you can stash your money and watch it grow over time with competitive interest rates. This separation ensures that you are disciplined in managing your savings without dipping into funds meant for daily expenses.

Key Features of the Old Mutual Money Account

  • Send Money: Conveniently send money to friends and family, even if they don’t bank with Old Mutual.
  • Prepaid Airtime & Utilities: You can purchase prepaid airtime, data, and electricity straight from your Money Account, simplifying your day-to-day needs.
  • DSTV Payments: Seamlessly pay your DSTV bill through the app, removing the hassle of missed payments.
  • Salary & Debit Order Switching: Easily switch your salary and debit orders to your Old Mutual Money Account using the online switching service. The process is quick and can be done from the comfort of your home.

How to Fund Your Old Mutual Money Account

Funding your Money Account is flexible, with several deposit options available:

  1. Salary Deposits: Have your salary paid directly into your account.
  2. Card or Cash Deposits: Deposit funds at select retailer stores.
  3. In-App Payments: Use a bank card to make in-app payments.
  4. In-Branch Deposits: Deposit funds using your card at an Old Mutual branch.
  5. Bank Transfers: Transfer money from another account to your Money Account.

How Does Old Mutual Bank Work?

While Old Mutual Bank does not exist in the traditional sense, its Money Account is offered in association with Bidvest Bank. This means that when you open an Old Mutual Money Account, you are essentially banking under Bidvest Bank, a licensed South African bank.

Benefits of the Old Mutual Money Account

  • Dual Account Feature: Two accounts in one, offering flexibility between spending and saving.
  • Easy Salary and Debit Order Switching: Simplifies the process of migrating your financial obligations.
  • Low Transaction Fees: Competitive transaction fees, which make everyday banking affordable.
  • Comprehensive App: Manage your money on the go with the Old Mutual Money Account app, which offers easy access to banking, payments, and transfers.

How to Open an Old Mutual Money Account

Opening an account is easy and can be done online through the Old Mutual website or by visiting a branch. The process is designed to be user-friendly, and once opened, you’ll have access to a powerful and flexible account that meets both your spending and saving needs.

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