Absa is set to focus its free internet service on its own customers and if you don't plan to open at least two accounts at Absa, you will have to find another internet service provider.
Absa this week released the findings of its interim report on its e-business strategy to curb speculation in the market that the bank's enormously popular free internet access service would come to an end.
The report was compiled by a task team appointed earlier this year which consisted of both Absa and independent industry experts. The bank has accepted its recommendations that:
- The free internet service should be limited to Absa customers, so for Absa customers who have subscribed to the internet service, nothing will change;
- Subscribers who are not Absa customers and do not wish to become customers should be given three months in which to move their internet account to another internet service provider (ISP);
- Absa should provide these subscribers with both the choice of and control over their future ISP, but the bank should try to negotiate favourable terms on their behalf with at least one ISP; and
- All new individual subscribers to the internet service will have to have a cheque account and one other account with the bank. Similarly, business clients will have to open one business cheque account and one other business account. As from January 1 2002, all new subscribers will have to register for online banking with Absa.
Santie Botha, Absa's executive director, says subscribers who do not want to open accounts at Absa will have the choice and control in making decisions about their internet service provider.
Absa has already initiated discussions with a number of service providers to negotiate the best possible deal for subscribers who choose not to become Absa customers.
Subscribers have been asked to verify their registration information online. This is because new subscriptions to the free internet service will be available only to people who bank with Absa and use its online facilities.
The task team is still investigating ongoing enhancements to the Absa portal, enhanced payment solutions, and the willingness of other South African banks to help grow South Africa's internet base by providing free internet access to customers.