Here are all the new FNB banking fees for 2022/23
Retail banking group FNB has published its updated fee schedules for the next year – coming into effect from 1 July 2022.
The bank has kept many of its fees the same, with any large increases due to structural changes. There has been a significant shift in how the bank is using its pricing structure to cultivate different transaction behaviour.
Across its accounts, many standard transactions have ‘free’ limits in place before standard fees kick in. For example, banking customers on its entry-level account will be able to withdraw money at a cheaper rate (R7 per R1,000) for up to R2,000 before the standard ATM fee (R2.30 per R100) takes effect.
On the middle market Aspire account, customers are able to withdraw up to R3,000 for free – either at tills or through ATMs – before the fee applies. Customers who take advantage of these limits and stay within them can avoid paying many common transactional fees.
Those who step outside these limits, however, will find the standard fees to be much higher.
One of the biggest changes FNB is making is waiving ‘other bank’ charges – the Saswitch fee charged when you use another bank’s ATMs – on certain days of the month. FNB says it will waive these fees on peak transactional days, specifically the 1st, 3rd, 25th and 31st (last day) of a month.
The bank added that customers will also now only pay 50% of the FNB ATM cash withdrawal fee when they withdraw through cardless functionality on the FNB App.
The table below outlines the monthly fee changes for its accounts:
| Account | 2021/22 | 2022/23 | Change |
|---|---|---|---|
| Easy Zero | Free | Free | – |
| Easy PAYU | R4.95 | R4.95 | – |
| Easy Smart | R59.00 | R62.00 | +5.1% |
| Aspire (Fusion) | R99.00 | R99.00 | – |
| Premier (Fusion) | R219.00 | R230.00 | +5.0% |
| Private Clients (Fusion) | R399.00 | R420.00 | +5.3% |
| Private Wealth (Fusion) | R499.00 | R525.00 | +5.2% |
The fees below outline the standard rates (outside of account-specific limits and bundles) for the bank’s key transactional accounts.
| FNB Easy Account (PAYU) | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R1.20 / R100 | R6.00 | R7.00 / R1000* | R7.00 | +16.7% |
| Withdrawal (Other) | R15.00 / R1000 | R15.00 | R12.00 + R2.30 / R100** | R23.50 | +56.7% |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (ATM) | R1.20 / R100 | R6.00 | R1.30 / R100 | R6.50 | +8.3% |
| Debit order (internal) | R1.00 | Free | -100.00% | ||
| Debit order (external) | R3.50 | R3.50 | – | ||
| Monthly account fee | R4.95 | R4.95 | – |
* Up to R2,000, thereafter standard rate applies
** R12 fee will be waived on peak days: 1st, 3rd, 25th and 31st of a month
| FNB Aspire (unlimited) | 2020/21 (Gold Fusion) | R500 transaction | 2021/22 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R2.20 / R100 | R11.00 | R2.30 / R100* | R11.50 | +4.5% |
| Withdrawal (Other) | R11.00 + R2.20 / R100 | R22.00 | R12.00 + R2.30 / R100** | R23.50 | +6.8% |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (ATM) | R1.20 / R100 | R6.00 | R1.30 / R100*** | R6.50 | +8.3% |
| Debit orders | Free | Free | Free | Free | – |
| Account fee | R99.00 | R105.00 | +6.0% |
* Free up to R3,000 across Cash@Till and FNB ATMs, thereafter this standard rate applies
** R12 fee will be waived on peak days: 1st, 3rd, 25th and 31st of a month
*** Free up to R3,000, thereafter this standard rate applies
The key transaction fees for each account are laid out in more detail below, with changes highlighted in gold:
Easy Zero
Easy PAYU
Easy Smart
Aspire
Premier
Private Clients
Private Wealth
Read: 3 big changes FNB customers can expect in the next few months – including eBucks
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