Here are your ATM and banking fees for 2018

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.

Absa Banner

Absa Gold Cheque Account 2017 Fees R500 transaction in 2017 2018 Fees R500 transaction in 2018 % Change from 2017 to 2018
Withdrawal (Native) R3.95 + R1.35/R100 R10.70 R4.50 + R1.40/R100 R11.50 +7.5%
Withdrawal (Other) R9.95 + R1.35/R100 R16.70 R10.50 + R1.40/R100 R17.50 +4.8%
Withdrawal (POS) R3.95 R3.95 R4.50 R4.50 +13.9%
Deposit (ATM) R3.95 + R1.35/R100 R10.70 R4.50 + R1.40/R100 R11.50 +7.5%
Debit order (internal) Free Free
Debit order (external) R16.95 R18.00 +6.2%
Account fee (PAYT) R42.00 R45.00 +7.1%

Absa’s full 2018 pricing can be found here.


Standard Bank Banner

Standard Bank Elite Account 2017 Fees R500 transaction in 2017 2018 Fees R500 transaction in 2018 % Change from 2017 to 2018
Withdrawal (Native) R1.80 per R100 R9.00 R1.80 per R100 R9.00
Withdrawal (Other) R6.70 + R1.80 per R100 R15.70 R8.00 + R1.80 per R100  R17.00 +8.3%
Withdrawal (POS) R1.80 R1.80 R1.80 R1.80
Deposit (ATM) R1.80 per R100 R9.00 R1.80 per R100 R9.00
Debit order (internal) R4.50 R4.50
Debit order (external) R16.00 R16.50 +3.1%
Account fee (PAYT) R55.00 R60.00 +9.1%

Standard Bank’s full 2018 pricing can be found here.


Nedbank Bannerr

Nedbank Savvy Account 2017 Fees R500 transaction in 2017 2018 Fees R500 transaction in 2018 % Change from 2017 to 2018
Withdrawal (Native) R4.50 + R1.40/R100 R11.50 R5.00 + R1.50/R100 R12.50 +8.7%
Withdrawal (Other) R11.50 + R1.40/R100 R18.50 R12.50 + R1.50/R100 R20.00 +8.1%
Withdrawal (POS) Free Free Free Free
Deposit (Intelligent depositor ATM) R5.50 + R0.70/R100 R9.00 R1.00/R100 R5.00 -44.4%
Debit order (internal) Free Free
Debit order (external) Free Free
Account fee  R100.00 R106.00 +6.0%

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


Capitec Banner

Capitec Global One 2016/17 Fees R500 transaction in 2016/17 2017/18 Fees R500 transaction in 2017/18 % Change from 2016/17 to 2017/18
Withdrawal (Native) R5.50 R5.50 R6.00 R6.00 +9.1%
Withdrawal (Other) R8.50 R8.50 R8.50 R8.50 0.0%
Withdrawal (POS) R1.30 R1.30 R1.50 R1.50 +15.4%
Deposit (ATM) 80c /R100 R4.00 90c per R100 R4.50 +12.5%
Account fee (PAYT) R5.25 R5.50 +4.8%

You can review Capitec’s full 2017/18 pricing here.


FNB banner

FNB Gold only offers the bundled account option. Withdrawals and [email protected] 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.

FNB Gold Cheque Account 2016/17 Fees R500 transaction in 2016/17 2017/18 Fees R500 transaction in % Change from 2015/16 to 2016/17
Withdrawal (Native) R1.85/R100 R9.25 R1.85/R100 R9.25 0.0%
Withdrawal (Other) R7.00 + R1.85/R100 R16.25 R8.00 + R1.85/R100 R17.25 +6.2%
Withdrawal (POS) Free  Free R1.40 R1.40
Deposit (ATM) R0.80 per R100 R4.00 R0.90 per R100 R4.50 +12.5%
Debit order (internal) Free Free
Debit order (external) Free Free
Account fee R100.00 R105.00 +5.0%

You can find FNB’s full 2017/18 pricing guide here.


Read: Plans to make SA Post Office an operating bank before April 2018: report

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