Al Baraka Bank Makes Cash Deposits Easier For Clients With Chain Store Till Point Facilities

06 July 2021


In the quest to make banking transactions easier and safer for clients, especially given the need to minimise physical interaction in the face of the COVID-19 pandemic, Al Baraka Bank has made it possible to deposit up to R3 000 directly into their Transactional Banking accounts using till points at Checkers, Shoprite and Usave stores across South Africa.

Announcing the new service facility, Mrs Aasiya Jamal, the bank's Senior Manager: Electronic and Transactional Banking Division, said acceptance of cash deposits by the stores would both expand the bank's national footprint and enhance customer safety by reducing the need for excessive interactions.

"This acceptance of cash deposits affords us a further and considerable expansion of our national footprint and delivers enhanced convenience to our clients across the country. Most importantly, it enables clients to undertake both their shopping and banking requirements at a single location, thus reducing the risk of exposure to COVID-19 through multiple interactions," she said.

The additional service offering follows a similar agreement with Boxer, Pick 'n Pay and Pick 'n Pay Clothing, introduced previously.

Mrs Jamal added: "Clients of the bank are able to transact by utilising any of our seven fully-fledged branches and branch-based ATMs, one off-site ATM, an estimated 600 ABSA branches, 8 000 ATMs of other banks - of which more than 1 000 accept cash deposits - as well as using the cash deposit facility at 1 700 Pick 'n Pay and Boxer stores and now, an additional 1 200 participating Checkers, Shoprite and Usave outlets across the country."

"We are intent on continuously evolving our service to clients and regard convenience of transaction in the banking experience as a top priority."

"Now and especially in view of the prevailing pandemic and the need to minimise interaction with people, instead of undertaking special trips to the bank, it becomes increasingly easy for clients to make deposits regardless of their choice of supermarket chain, saving time and effort, while remaining safe by reducing levels of physical contact," she added.

Bank clients may deposit cash into their Transactional Banking accounts to a maximum of R5 000 at Pick 'n Pay and Boxer outlets and up to R3 000 at Checkers, Shoprite and Usave stores whilst paying for their shopping and are not required to queue separately to benefit from the service. Although Al Baraka Bank does not charge any fees for such deposits, a fee of R19-95 is charged up-front per transaction, irrespective of the amount deposited.

Mrs Jamal said: "Deposits made at retail till-points anywhere in the country reflect immediately in the client's account."