Banking

Here are your ATM and banking fees for 2018

Staff Writer

 ·6 Dec 2017

Standard Bank, Absa and Nedbank have published their fee changes for 2018, which will come into effect from 1 January next year.

Of the three new fee schedules, Absa has seen the biggest increases in its transaction prices, with withdrawal, deposit and monthly account fees increasing by around 7%. Standard Bank has kept most fees unchanged since altering its formulae in 2017.

Notable changes at Nedbank include a reduction in deposit fees at its Intelligent depositor ATMs: there is no fee for the first R5,000 deposited, thereafter it’s charged at R1 per R100. Withdrawal fees have increased at around 8%, however.

FNB and Capitec published their 2017/18 fee changes during the course of this year. Capitec will update its prices in February 2018 (taking effect from 1 March 2018) and FNB will update its fees in June 2018 (taking effect from 1 July 2018).

Here’s how the fees look for mid-market accounts (‘gold accounts’) on a pay as you transact basis. Links to the full fee schedules are included.

The full 2018 pricing for Nedbank’s Savvy Plus can be found here.

FNB Gold only offers the bundled account option. Withdrawals and Cash@Till transaction fees come into effect after a combined R5,000 limit has been reached. Cash deposit fees come into effect after a R5,000 limit has been reached.