Average Bank Fees In South Africa

What is Bank Fees?

The term bank charge covers all charges and fees made by a bank to their customers. In common parlance, the term often relates to charges in respect of personal current accounts or checking account. 

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Average Bank Fees In South Africa

Standard Bank’s full Access 2019 pricing can be found here.

STANDARD BANK MYMO2018 FEES (15% VAT)2019 FEES
Withdrawal (Other)R12.00
Withdrawal (POS)R1.40
Deposit (ATM)R1.65 / R100
Monthly account fee (PAYT)R4.95

Which bank has the lowest bank fees in South Africa?

The cheapest bank accounts in South Africa in 2022

STANDARD BANK MYMO PAYT2021 FEESR500 TRANSACTION
Withdrawal (POS)R1.40R1.40
Deposit (ATM)R9.00/R1000R5.00
Debit ordersR3.50
Account fee (PAYT)R4.95

Which bank has the lowest monthly fee in South Africa?

Spot Money joins a number of other bank accounts in South Africa which offer no monthly fees or card charges, including one apiece from major banks Nedbank and FNB.

What are typical bank fees?

The average American pays $7 in banking fees every month, according to a recent GOBankingRates survey. These fees vary by user but include everything from monthly maintenance/service fees, to charges for overdrafts and insufficient funds.

Which banks have no monthly fees?

Of the big four banks, NAB is the only one that offers a transaction account with no monthly fee. ANZ, CommBank and Westpac all charge monthly fees on their accounts, unless you meet certain conditions. A number of banks say they will waive the monthly fee if you make a minimum monthly deposit.

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