Bank Zero

Bank Zero is a South African app-only digital mutual bank for individuals and businesses that want day-to-day transactional banking with zero monthly fees and app-based control over cards, payments, and debit orders.

Key capabilities include:

• Card security and controls: patented protection designed to prevent card skimming and card data theft, plus in-app controls to lock a card fully or restrict specific channels such as ATM, online, and tap-to-pay transactions.
• Debit order management: alerts for new debit orders (with the option to reject) and warnings before existing debit orders run to help manage cash flow.
• Business payments and approvals: multi-level authorisation chains configured in the app (drag-and-drop setup) and Pay Many bulk payments from one screen, including CSV upload and recipient import/export.
• Everyday integrations: support for Apple Wallet and Google Wallet for phone taps and the ability to load the card onto other people’s wallets, plus Xero connection to import transactional data. Businesses can also order and link iKhokha card machines, with automatic account linking and no monthly machine fees (machine cost paid to iKhokha).

Available on Android and iOS (no web banking is advertised).

Designed for South African individuals and commercial customers, including sole traders, CIPC-registered companies, NPOs, trusts, and partnerships.

Notable in South Africa for its mutual bank model (Bank Zero Mutual Bank, MB0001, FSP 50870) and its focus on in-app fraud prevention and payment governance without relying on branches.