ZB Bank has scored a first by introducing the Randmaster current account. Randmaster is a foreign currency based current account, with all the benefits of a cheque book as well as a cheque guarantee card.  

This product is a convenience account into which foreign currency (South African Rands) is deposited. Deposits can be in the form of cash, local and foreign cheques, local transfers and international transfers. Money can be withdrawn by means of cheque, debit card and or transfer instructions. Other currencies can also be switched to credit this account in ZAR.

This account will allow customers to transact freely as it has been structured in a way that allows maximum flexibility and convenience. For all intends and purposes, the account will be used in the same way the local current accounts were being used in contrast to the current FCAs on the market which operate purely as call or savings accounts.

This current account will only be offered on Rand based accounts in the meantime, but plans are underway to develop a USD based current account.