Here are your banking fees for 2016

[Update 29/2/2016] Capitec’s has released its fee schedule for 2016/17, which has been added below.

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).

BusinessTech has included the standing fees at these two banks until the new prices are introduced later in 2016.

Absa Banner

Absa Gold Cheque Account 2015 Fees R1,000 transaction in 2015 2016 Fees R1,000 transaction in 2016 % Change from 2015 to 2016
Withdrawal (Native) R3.95 + R1.30/R100 R16.95 R3.95 + R1.30/R100 R16.95
Withdrawal (Other) R9.95 + R1.30/R100 R22.95 R9.95 + R1.30/R100 R22.95
Withdrawal (POS) R3.95 R3.95
Deposit (ATM) R3.00 + R1.30/R100 R16.00 R3.00 + R1.30/R100 R16.00
Debit order (internal) Free Free
Debit order (external) R15.50 R16.00 3.2%
Account fee (PAYT) R33.00 R40.00 21.2%

Standard Bank Banner

Standard Bank Elite Account 2015 Fees R1,000 transaction in 2015 2016 Fees R1,000 transaction in 2016 % Change from 2015 to 2016
Withdrawal (Native) R4.00 + 1.15% of value R15.50 R4.00 + 1.20% of value R16.00 3.2%
Withdrawal (Other) R6.70 + R4.00 + 1.15% of value R22.20 R6.70 + R4.00 + 1.20% R22.70 2.3%
Withdrawal (POS) R5.00  R5.00  –
Deposit (ATM) R4.00 + 1.25% of value R16.50 R4.00 + 1.30% of value R17.00 3.0%
Debit order (internal) R4.00 R4.20 5.0%
Debit order (external) R12.50 R13.10 4.8%
Account fee (PAYT) R53.00 R55.00 3.8%

Nedbank Bannerr

Nedbank Savvy Account 2015 Fees R1,000 transaction in 2015 2016 Fees R1,000 transaction in 2016 % Change from 2015 to 2016
Withdrawal (Native) R3.50 + R1.28/R100 R16.30 R4.00 + R1.32/R100 R17.20 5.5%
Withdrawal (Other) R10.00 + R1.28/R100 R22.80 R11.00 + R1.32/R100 R24.20 6.1%
Withdrawal (POS) R4.00 R4.00
Deposit (ATM) R6.00 + R1.28/R100 R18.80 R5.00 + R0.66/R100 R11.60 -38.3%
Debit order (internal) R6.00 R6.00
Debit order (external) R14.00 R15.00 7.1%
Account fee (PAYT) R30.00 R30.00

FNB banner

FNB Gold Cheque Account 2015 Fees R1,000 transaction in 2015 2016 Fees R1,000 transaction in 2016 % Change from 2015 to 2016
Withdrawal (Native) R6.70 per R500.00 R13.40 R3.95 + R1.30/R100 R16.95 26.5%
Withdrawal (Other) R6.50 + (R6.70 per R500.00) R19.90 R6.50 + R3.95 + R1.30/R100 R23.45 17.8%
Withdrawal (POS) Free
Deposit (ATM) 0.70% of deposit value (min R5.50) R7.00 R0.70/R100 (minimum R5.50) R7.00
Debit order (internal) R3.70 R3.70
Debit order (external) R16.00 R16.00
Account fee R31.50 R100.00*

* FNB no longer lists PAYT fees in its brochures

Capitec Banner

Capitec Global One 2015/16 Fees R1,000 transaction in 2015 2016/17 Fees R1,000 transaction in 2016 % Change from 2015 to 2016
Withdrawal (Native) R5.00 R5.00 R5.50 R5.50 10.0%
Withdrawal (Other) R8.00 R8.00 R8.50 R8.50 6.3%
Withdrawal (POS)  R1.25  R1.25 R1.30 R1.30 4.0%
Deposit (ATM) 70c /R100 R7.00 R80c /R100 R8.00 14.3%
Account fee (PAYT) R5.00 R5.25 5.0%

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Here are your banking fees for 2016