FNB has released its updated banking fees which will come into effect from 1 July 2013, and while it has hiked its prices, the bank still compares favourably to the other big banks in South Africa.
Monthly account fees for all FNB accounts are up, though the biggest jump is for Platinum accounts, which have increased by 12.5%.
FNB account fees 2013
| Account | 2012 | 2013 | Increase |
| Smart | R79.00 | R84.00 | 6.3% |
| Gold | R97.00 | R100.00 | 3.1% |
| Platinum | R120.00 | R135.00 | 12.5% |
| Petrol Card | R12.50 | R13.50 | 8.0% |
2013 ATM withdrawal fees
Withrawal fees at FNB ATMs have increased marginally; however, the bank appears to have implemented a new limit to the amount customers will pay while withdrawing from other banks’ ATMs – a price-point which caught many unsuspecting banking clients by surprise in 2012.
Withdrawals beyond the free monthly amount will cost a minimum of R6.30 at FNB ATMs (to a maximum of R25.20), and a minimum of R12.80 at other ATMs (with the same maximum).
| Transaction | Unlimited |
Mobile |
Fee |
| FNB withdrawal | 6 Free withdrawals | 4 Free withdrawals | R6.30 per R500 (max R25.20) |
| Other withdrawal | – | – | R6.50 + R6.30 per R500 (max R25.20) |
South African withdrawal fee comparison
First National Bank is the last of South Africa’s big banks to update its fee structures for the 2013 period (the other banks update with prices effective from January 2013).
When comparing the new structure to its competitors, FNB remains the second-most affordable bank in terms of its withdrawal fees, after Capitec. This is despite the bank increasing its withdrawal fees by the greatest percentage (10.5%).
Of all the banks, Standard Bank is the only one to reduce its withrawal fees.
Native ATM withdrawal
| Bank | Native ATM fee |
R1000 withdrawal |
2012 cost |
%change |
| Capitec | R4.30 | R4.30 | R4.00 | 7.5% |
| First National Bank | R6.30/R500* | R12.60 | R11.40 | 10.5% |
| Standard Bank | R3,50 + 1.05% of value | R14.00 | R15.60 | -10.0% |
| Absa | R3,95 + R1,15/R100 | R15.45 | R14.85 | 4.0% |
| Nedbank | R3,50 + R1,25/R100 | R16.00 | R15.50 | 3.2% |
*Max R25.20
Other ATM Withdrawal
| Bank | Other ATM fee |
R1000 withdrawal | 2012 cost | %change |
| Capitec | R7.00 | R7.00 | R7.00 | – |
| First National Bank | R6.50 + R6.30/R500* | R19.10 | R17.90 | 6.7% |
| Standard Bank | R6,70 + R3,50 + 1.05% of value | R20.70 | R22.30 | -7.2% |
| Absa | R9,95 + R1,15/R100 | R21.45 | R20.85 | 2.9% |
| Nedbank | R9,50 + R1,25/R100 | R22.00 | R21.50 | 2.3% |
*Max R25.20
The tables above compares the banks’ withrawal fees on pay as you transact rates, which are not subject to bundled products. The fees are applicable to banks’ transactional/current accounts.
All of South Africa’s banks offer various packages with price and service plans which may be suited to individual banking habits.
Additionally, each bank – with the exception of Capitec – offers an entry-level saver-type account, which offers reduced rates.
While Capitec does not offer a current account specifically, its Global One account is a transactional account and is integrated with the bank’s other services, including saving and credit facilities.
More on SA banks
Withdrawal fees – how SA banks stack up (2012)
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