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Franc review

Updated September 28, 2026 · SumCue Editorial Team · Facts checked September 26, 2026

We earn a commission when you sign up through links on this site. Partner status can affect where a brand appears in our rankings. Partners with a live offer in your country come first, then every other brand by score.

Our verdict

Franc is a South African savings app that suits savers who want a strong variable rate of 5.5%, easy access to their money and no minimum deposit. A monthly fee of ZAR 19 is the trade-off, so it suits balances that earn more than the fee costs.

Key facts

Best for
South African savers who want a strong variable rate, easy access and 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

Apps and profiles

Get the app
App Store
Elsewhere
LinkedInX

Pros and cons

Pros

  • A variable rate of 5.5%, above the savings median of 3.06%
  • A minimum deposit of ZAR 0, so an account can be opened with nothing in it
  • Withdraw at any time with no penalty, usually reflecting within a few business days to a linked bank account
  • Support runs on email, phone and chat, and 73.3% of savings brands offer a help centre

Cons

  • The rate is variable, so it can fall as well as rise and is not locked
  • The account is easy access, so there is no term to lock a rate into
Franc

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Scored 8.9 / 10 by SumCue.

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Who it suits

  • South African savers who keep money in rand and want access at any time
  • People building a savings balance with no lump sum to deposit
  • Savers comfortable with an app run and regulated in South Africa

Who should look elsewhere

  • Savers chasing a fixed-term return, who may prefer the wider rate band at Finteres
  • Anyone put off by a monthly charge, since the ZAR 19 fee applies whatever the balance
  • Readers who want a deposit protection scheme stated, since the FSCA licence details do not set one out

Rates and card terms

Franc pays a variable rate of 5.5% on an easy-access account, so the rate can rise and fall rather than being fixed for a term. That sits above the savings median of 3.06% and the savings-accounts median of 3%. On headline rate Franc ranks 86 of 488 in the savings-accounts ranking, where easy-access accounts account for 92.5% of brands.

Fees and FX

The account carries a monthly fee of ZAR 19, and that charge is the main cost to weigh, since 53.4% of savings brands run with no monthly fee. The minimum deposit is ZAR 0, so nothing needs to be in the account before saving starts, and Franc ranks 1 of 379 on that measure. Easy-access accounts make up 75.4% of the savings ranking.

How Franc compares

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% on an easy-access account. Because the rate is variable it can move in either direction, so the figure is a guide rather than a promise. The savings median is 3.06%.

Is there a minimum deposit to open a Franc account?+

The minimum deposit is ZAR 0, so nothing has to be paid in before saving starts. Franc ranks 1 of 379 brands on minimum deposit, which makes it among the easiest accounts to try with a small amount.

What does it cost to keep money in a Franc account?+

There is a monthly fee of ZAR 19 on the account, and it applies whatever the balance. That is worth weighing against the 5.5% rate, because 53.4% of savings brands carry no monthly charge at all.

Can I withdraw money at any time?+

Yes. Withdrawals carry no penalty and are usually reflected within a few business days, paid to the linked bank account by EFT. The account is easy access, which 75.4% of savings brands in the ranking also offer.

Who regulates Franc?+

Franc is registered with the Financial Services Conduct Authority in South Africa under licence FSP 49998. The account is run by Franc Group (Pty) Ltd, a company founded in 2017, and the licence details do not state a deposit protection scheme.

How do I get help from Franc?+

Support runs on email, phone and chat, so help is available by chat, email, phone and the help centre. A help centre is offered by 73.3% of savings brands and live chat by 32.9%, so both routes are common.

What kind of account is this?+

It is an easy-access savings account, which means there is no term to serve and no penalty for taking money out. Easy access is the most common kind in the savings ranking at 75.4%, ahead of fixed accounts at 18.3%.

Is the rate fixed or variable?+

The rate is variable, so it is not locked for a term and can be changed. Across savings accounts, 69.3% run a variable rate against 30.7% on a fixed rate, so a variable account is the usual choice.

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.

Related by the facts

Franc

Franc

South African savers who want a strong variable rate, easy access and no minimum deposit.

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