Absa | FAQs

1. Who is Absa Group?

Absa Group Limited is Absa Bank Seychelles parent company, and is one of the top 40 companies listed on the Johannesburg Stock Exchange. We are one of Africa’s largest diversified financial services groups, offering an integrated set of products and services across personal and business banking, corporate and investment banking, wealth and investment management and insurance. The Group has a presence in 12 African countries and an international representative office in London and soon to open one in New York. We have approximately 40,000 employees, more than 1,000 branches, and nearly 10,000 ATMs.

The Group’s registered head office is in Johannesburg, and it owns majority stakes in banks in Botswana, Ghana, Kenya, Mauritius, Mozambique, Seychelles, South Africa, Tanzania (Absa Bank Tanzania and National Bank of Commerce), Uganda and Zambia. Apart from offices in London and soon in New York, the Group also has representative offices in Namibia and Nigeria, as well as insurance operations in Botswana, Kenya, Mozambique, South Africa and Zambia.

The new Absa brand represents a uniquely diverse African banking group whose purpose is to bring possibility to life.

2. Can I have the same confidence in this new brand as I had in Barclays?

Absa Group is committed to building on Barclays' heritage in Africa and the strengths that we already have on the continent. We have a deep history and local knowledge in Seychelles. Our main products and services haven’t changed. Our customers can bank with us as confidently as they always have.

3. Will my money be safe with this bank?

You can bank with us as safely as you always have. Absa Group is one of the largest banking groups in Africa, with a balance sheet of more than USD 91 billion, as well as new systems with robust security provisions.

4. Why are we seeing changes within the bank?

While Barclays continues to have a significant stake in Absa Group, it’s no longer our majority shareholder and we’re separating our operations in Africa from those of Barclays PLC. This change, which is currently in progress, has given us an opportunity to rollout a name and brand that reflects our identity in Africa, and to unite behind a single brand and purpose which is to bring possibility to life.

5. Is Barclays PLC still involved in any way?

Although Barclays PLC is no longer a majority shareholder, they continue to have a shareholding in our parent company, Absa Group.

6. Why did you decide on Absa as the new brand?

We know how important a decision like this is, and, before coming to any conclusions, we consulted widely with employees, customers, regulators and other stakeholders across the continent. The outcome of these discussions was that we needed one brand to unite all our operations across Africa. The Absa brand is already well-established and well-known in parts of Africa, and has strong African and international banking credentials.

7. I can still see Barclays branding here and there. When will the change to Absa be complete?

Given the operational complexity of our name change, there will be a period of time where the blue of Barclays and the red of Absa will co-exist. We have until mid-2020 to fully transition to the Absa brand, but we expect to accomplish this long before this deadline.

8. You will have needed to invest significant resources in the rebranding exercise. Will I be paying for this?

The cost of implementing and communicating this rebranding has been carefully planned. The cost will be paid by our company, and will not be passed on to you now or in the future.

9. Why did you decide on this look?

Our separation has given us the opportunity to roll out a new brand that reflects our uniquely African identity, and unite all Absa-owned companies across the continent behind a single brand and purpose. We chose a vibrant red colour palette to represent the brand because it’s passionate and proud, and inspired by the colour woven through our African land and skies.

10. What do these changes mean for me as a customer? Do I need to do anything?

You do not need to do anything as a result of the changes you’re seeing. Your products and services will not be impacted by our name change. You can look forward to a new, refreshed banking experience with us once we’ve changed to the Absa name.

11. Will you be issuing new chequebooks?

All chequebooks issued from 10 February 2020 onwards will be branded with the Absa brand identity.

The last day for ordering Barclays Cheques will be on Thursday 30 January for Commercial customers and Monday 27 January for personal customers.

We’re encouraging our customers to minimize their cheque book orders - always ensuring that you have enough to use until 10 February.

If ordered Barclays Cheque books are not picked up by Friday 31 January, we will need to re-issue your new chequebook under the Absa brand. This means however, that your new Absa chequebook will only be available for collection 6 days later, which is Monday 10 February, the day of our official name change.

Please note that even after we have transitioned to Absa, we will continue to accept Barclays cheques issued and that your account number and details will remain the same.

12. Will you be issuing new cards?

All new cards issued will be under the Absa brand from 10 February 2020.

Additionally, the re-issuing of both debit and credit cards will take place in a ‘phased out approach’ in which customers will be contacted to come and replace their Barclays card for an Absa branded one. The ‘Phased out approach’ will be organised in a way that customers whose cards are expiring, will being contacted first.

We are advising customers to bring along their Barclays cards when coming to replace it with the new Absa branded one.

Customers who have lost their card can come to the Card Centre at Capital City for a new Absa one. Note that as per the normal process, customers will have to pay SCR 100 for a new card (if lost or stolen).

13. Will there be staff changes? Will I be dealing with the same tellers/branch manager?

Nothing will change in how we serve you on a daily basis, so you can bank with us as confidently as you always have.

14. Will these changes affect products and services?

No, our brand change will not directly affect your existing products or services. In fact, now that we are Absa Bank in Seychelles, you can look forward to new and innovative products and services.

15. Will my card/account, etc. still work?

The process of having changed from Barclays Bank Seychelles to Absa does not affect the functionality of products or services. Your account and cards will continue to work as they always have.

16. Will my banking app still work?

You will need to download our new Absa-branded banking app from your Google Play store or Apple App store.

17. Can I still use my Barclays-branded card in the ATM and at branches and point-of-sale?

Yes, you can continue to use all your Barclays products and services in the same way as you have in the past.

18. Will there be any additional transactional charges for using a Barclays-branded card in an Absa ATM or POS machine, and vice versa?

There will be no additional bank fees or charges on any of these transactions.

19. Will the ATMs operate differently?

No, although they will look different. While our colours may have changed, the way you bank won’t change.

20. Will I be required to change my account details?

No, you will not be required to change your banking details at any point during our brand change process. However, we urge you to be particularly vigilant during this time, as fraudsters are always looking for opportunity to obtain important personal information by masquerading as your bank. They may use our brand change as an opportunity to ask you to change your details. Such messages do not come from us – your bank account details (including account number and branch code) will not change.

21. Will my bank charges or rates be changing?

Bank charges and rate changes happen from time to time in most banks. Any changes to bank charges or rates will not be a result of our brand transition or change, but will happen as part of our normal course of business.

22. Will this affect the current loan agreement I have with Barclays?

There will be no change to your current loan agreement with Barclays. The contracts won’t require change now or in the future.

23. Is the SWIFT code going to change?

Our SWIFT code, address, telephone and fax numbers remain unchanged. From our name change date, all references will be to Absa. You will not be required to do anything as a result of this change.

24. What measures are being put in place to protect customers from fraudulent activities?

We urge customers to be particularly vigilant during this time, as fraudsters are always looking for opportunity to obtain important personal information. We will not be asking customers for any information nor will we need them to update any of their personal account information or details as a result of this change. We have made a concerted effort to ensure that safety and anti-fraud messaging is included in all our communications around our name change.