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SA Banking fees 2016 Capitec vs. FNB vs Absa vs Standard Bank vs Nedbank


From January, new banking fees have kicked in at three of five of South Africa’s major banks.
Detailed in the tables below are a selection of key transaction fees, and what customers would pay in processing R1,000 per transaction.
These fees cover the charges across middle market accounts at South Africa’s retail banks on a pay-as-you-transact (PAYT) basis.
The country’s banks offer various bundled and unlimited options which provide certain transactions free of charge, sometimes in a limited capacity.
FNB updates its prices in the middle of the year (in June), while Capitec increases fees from March.
BusinessTech has included the standing fees at these two banks until the new prices are introduced later in 2016.


Absa Gold Cheque Account2015 FeesR1,000 transaction in 20152016 FeesR1,000 transaction in 2016% Change from 2015 to 2016
Withdrawal (Native)R3.95 + R1.30/R100R16.95R3.95 + R1.30/R100R16.95
Withdrawal (Other)R9.95 + R1.30/R100R22.95R9.95 + R1.30/R100R22.95
Withdrawal (POS)R3.95R3.95
Deposit (ATM)R3.00 + R1.30/R100R16.00R3.00 + R1.30/R100R16.00
Debit order (internal)FreeFree
Debit order (external)R15.50R16.003.2%
Account fee (PAYT)R33.00R40.0021.2%


Standard Bank Elite Account2015 FeesR1,000 transaction in 20152016 FeesR1,000 transaction in 2016% Change from 2015 to 2016
Withdrawal (Native)R4.00 + 1.15% of valueR15.50R4.00 + 1.20% of valueR16.003.2%
Withdrawal (Other)R6.70 + R4.00 + 1.15% of valueR22.20R6.70 + R4.00 + 1.20%R22.702.3%
Withdrawal (POS)R5.00 R5.00 –
Deposit (ATM)R4.00 + 1.25% of valueR16.50R4.00 + 1.30% of valueR17.003.0%
Debit order (internal)R4.00R4.205.0%
Debit order (external)R12.50R13.104.8%
Account fee (PAYT)R53.00R55.003.8%


Nedbank Savvy Account2015 FeesR1,000 transaction in 20152016 FeesR1,000 transaction in 2016% Change from 2015 to 2016
Withdrawal (Native)R3.50 + R1.28/R100R16.30R4.00 + R1.32/R100R17.205.5%
Withdrawal (Other)R10.00 + R1.28/R100R22.80R11.00 + R1.32/R100R24.206.1%
Withdrawal (POS)R4.00R4.00
Deposit (ATM)R6.00 + R1.28/R100R18.80R5.00 + R0.66/R100R11.60-38.3%
Debit order (internal)R6.00R6.00
Debit order (external)R14.00R15.007.1%
Account fee (PAYT)R30.00R30.00

FNB Gold Cheque Account2015 FeesR1,000 transaction in 20152016 FeesR1,000 transaction in 2016% Change from 2015 to 2016
Withdrawal (Native)R6.70 per R500.00R13.40R3.95 + R1.30/R100R16.9526.5%
Withdrawal (Other)R6.50 + (R6.70 per R500.00)R19.90R6.50 + R3.95 + R1.30/R100R23.4517.8%
Withdrawal (POS)Free
Deposit (ATM)0.70% of deposit value (min R5.50)R7.00R0.70/R100 (minimum R5.50)R7.00
Debit order (internal)R3.70R3.70
Debit order (external)R16.00R16.00
Account feeR31.50R100.00*
* FNB no longer lists PAYT fees in its brochures
Capitec Global One2015 FeesR1,000 transaction in 20152016 FeesR1,000 transaction in 2016% Change from 2015 to 2016
Withdrawal (Native)R4.60R4.60R5.00R5.008.7%
Withdrawal (Other)R7.30R7.30R8.00R8.009.6%
Withdrawal (POS) R1.05 R1.05R1.25R1.2519.0%
Deposit (ATM)55c /R100R5.50R70c /R100R7.0027.3%
Debit order (internal)R1.50R1.50
Debit order (external)R3.20R3.20
Account fee (PAYT)R5.00R5.00

Source : BusinessTech