Franc review
Updated September 28, 2026 · VaultCue Editorial Team · Facts checked September 26, 2026
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Our verdict
Franc serves South African savers who want easy access to their money and will accept a monthly fee for it. A variable rate of 5.5% and a ZAR 0 minimum deposit make it practical, though ZAR 19 a month gives back part of that interest.
Key facts
- Best for
- Easy-access savings in South Africa with no minimum deposit.
- Headline rate
- 5.5%↗
- Rate type
- Variable↗
- Minimum deposit
- ZAR 0↗
- Access terms
- Withdraw at any time without penalties; withdrawals usually reflect within 1-3 business days and are paid to your linked bank account via EFT↗
- Monthly fee
- ZAR 19↗
- Account kind
- Easy access↗
- Legal entity
- Franc Group (Pty) Ltd↗
- Headquarters
- South Africa↗
- Founded
- 2017↗
- Support channels
- Email, Phone, Chat, Help-centre↗
- Official website
- franc.app
Facts checked September 26, 2026, 4 sources
Pros and cons
Pros
- Variable rate of 5.5%, well above the site median of 3%
- No minimum deposit, so a balance can start at ZAR 0
- Money is available on request, and payouts go to your linked bank account by EFT
- Support runs on email, phone and chat, covering phone, chat, email and a help centre
Cons
- A monthly fee of ZAR 19 against a site median of €0
- The rate is variable, so 5.5% can move
- The easy-access account kind means easy access money is not tied away for a better return
Who it suits
- South African residents wanting an easy-access savings account with no minimum deposit
- Anyone who keeps a linked bank account for EFT payouts
- People who value phone and chat support over a fee-free balance
Who should look elsewhere
- PayPal Colombia, which charges a higher headline rate of 3.3% and takes no monthly fee
- AXI Card Tarjeta y Credito, whose 21.59% applies to a card product rather than a savings balance
- Plazo ES, listed at 24.19% on a credit card account
How it compares on our data
On headline rate, Franc sits at 85 of 473 brands ranked, well above the site median of 3%. On minimum deposit it ranks 1 of 370, helped by a ZAR 0 minimum. The 5.5% rate is the strength; the ranking gap shows plenty of higher paying options exist elsewhere.
Fees and FX
The easy-access account has a minimum deposit of ZAR 0, so there is no floor to clear. The monthly fee is ZAR 19, which sits above the savings account median of €0. That fee is the trade-off to weigh against a variable rate of 5.5% paid on the balance.
How Franc compares
8.8 vs 8.6
8.8 vs 9.5
8.8 vs 8.0
8.8 vs 8.9
8.8 vs 8.9
8.8 vs 9.1
8.8 vs 9.1
8.8 vs 8.9
8.8 vs 8.7- 8.8 vs 8.0
8.8 vs 9.0
8.8 vs 8.1
8.8 vs 8.7
8.8 vs 8.0
8.8 vs 9.5
8.8 vs 9.4
8.8 vs 9.3
8.8 vs 9.2
8.8 vs 9.0
8.8 vs 8.7
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.5
8.8 vs 8.4
8.8 vs 8.3
8.8 vs 9.0
Where Franc is available
- Available
- Eswatini, Lesotho, Namibia, South Africa
- Licence in South Africa
- Financial Services Conduct Authority (FSCA) (FSP 49998), checked September 26, 2026
Countries from the brand (Source, checked September 26, 2026)
Frequently asked questions
What rate does Franc pay on savings?+
Franc pays a variable rate of 5.5%, and the rate type is variable. That sits above the site median of 3% for headline rate. Because the rate is variable, the figure can change over time.
Is there a minimum deposit?+
There is no floor to clear. The minimum deposit is ZAR 0, and Franc ranks 1 of 370 brands on that measure. You can build a balance from a very small starting amount.
What does Franc cost each month?+
The monthly fee is ZAR 19. That is more than the savings account median of €0, so the fee eats into the interest earned on smaller balances. Balance size decides how quickly the fee pays for itself.
Can I get my money out whenever I want?+
Yes. You can take your money out whenever you need it, with no withdrawal charge applied. Payouts go to your linked bank account by EFT and usually clear within a few business days. You will need a bank account in your own name to receive the funds.
Is Franc regulated?+
Franc is licensed by the Financial Services Conduct Authority in South Africa, listed as FSP 49998. The legal entity behind the service is Franc Group (Pty) Ltd, which has been operating since 2017.
What kind of account is it?+
It is an easy-access account. There is no fixed term to serve and no notice period, so the money stays available. Compare that with a notice or fixed account if you want a better rate in exchange for tying the money up.
How do I get help?+
Support runs on email, phone and chat, which includes phone, chat, email and a help centre. That mix is wider than most of the savings accounts listed here, where email and help centres are more common than phone lines.
Sources
- franc.app/faq checked September 26, 2026
Backs: Founded, Licences
“Franc was founded in 2017 by an engineer, Thomas Brennan, and an actuary, Sebastian Patel.”
- franc.app/fees checked September 26, 2026
Backs: Headquarters, Legal entity, Monthly fee
“Address 3rd Floor, 2 Merchant Place Cnr Fredman Dr & Rivonia Rd Sandton, 2196”
- franc.app/howto checked September 26, 2026
Backs: Support channels
“Email us at help@franc.app Call us at +27 62 812 3798 Chat live with us on FreshChat”
- franc.app/howto/save checked September 26, 2026
Backs: Access terms, Account kind, Headline rate, Minimum deposit, Rate type
“You can withdraw from your Savings Account at any time without penalties. Withdrawals usually reflect within 1-3 business days after the withdrawal was made.”
Compiled from 4 source pages, checked September 26, 2026. We did not open an account.
Not confirmed yet: Term, Deposit protection.