Here are all your new banking fees for 2023
South Africa’s big banks have all published updated fee schedules that will carry through to 2023.
Absa, Standard Bank and Nedbank are the latest to publish their fees, which come into effect on 1 January 2023, while FNB, Capitec and Discovery Bank published updated fees earlier in the year, which will continue until their review periods in the new year.
Capitec’s fee schedule will stay in place until March 2023, while FNB’s pricing will be updated again from 1 July 2023.
The tables below outline the banking fees you will be paying in 2023 for each bank’s entry-level and mid-tier account, covering core transactions. Prices are out of bundle, or on a pay as you transact basis. Full price guides are linked.
| Capitec Global One | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R7.50 / R1000 | R7.50 | R8.00 / R1000 | R8.00 | +6.7% |
| Withdrawal (Other) | R9.75 / R1000 | R9.75 | R10.00 / R1000 | R10.00 | +2.6% |
| Withdrawal (POS) | R1.60 | R1.60 | R1.75 | R1.75 | +9.4% |
| Deposits | R1.30 / R100 | R6.50 | R1.30 / R100 | R6.50 | – |
| Debit orders | R3.50 | R3.50 | – | ||
| Account fee (PAYT) | R5.00 | R6.50 | +30.0% |
You can review Capitec’s 2022/23 pricing here.
| Absa Transact Account | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R8.00/R1000 | R8.00 | R10.00/R1000 | R10.00 | +25.0% |
| Withdrawal (Saswitch) | R12.00+R2.30/R100 | R23.50 | R10.00+R2.50/R100 | R22.50 | -4.3% |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (ATM) | R2.30/R1.00 | R11.50 | R2.50/R100 | R12.50 | +8.7% |
| Debit orders (internal) | Free | Free | – | ||
| Debit orders (external) | R1.00 | R1.00 | – | ||
| Monthly account fee (PAYT) | R4.90 | R4.90 | – |
| Absa Pay as you Transact | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R2.30/R100 | R11.50 | R2.50/R100 | R12.50 | +8.7% |
| Withdrawal (Saswitch) | R12.00 + R2.30/R100 | R23.50 | R10.00+R2.50/R100 | R22.50 | -4.3% |
| Withdrawal (POS) | R2.00 | R2.00 | R2.00 | R2.00 | – |
| Deposit (ATM) | R2.30/R100 | R11.50 | R2.50/R100 | R12.50 | +8.7% |
| Debit order (internal) | Free | Free | – | ||
| Debit order (external) | R19.00 | R19.00 | – | ||
| Account fee (PAYT) | R50.00 | R50.00 | – |
You can view the full Absa 2023 pricing guide here.
| Standard Bank MyMo PAYT | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R8.00/R1000 | R8.00 | R8.00/R1000 | R8.00 | – |
| Withdrawal (Other) | R10.00/R1000 | R10.00 | R10.00/R1000 | R10.00 | – |
| Withdrawal (POS) | R1.40 | R1.40 | R1.40 | R1.40 | – |
| Deposit (ATM) | R1.00/R100 | R5.00 | R1.20/R100 | R6.00 | +20% |
| Debit orders | R3.50 | R3.50 | – | ||
| Account fee (PAYT) | R4.95 | R5.95 | +20% |
| Standard Bank MyMo Plus | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R2.00/R100 | R10.00 | R2.20/R100 | R11.00 | +10% |
| Withdrawal (Other) | R2.20/R100 | R11.00 | R2.20/R100 | R11.00 | – |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (ATM) | R1.00/R100 | R5.00 | R1.20/R100 | R6.00 | +20% |
| Debit order (internal/external) | Free | Free | – | ||
| Account fee | R110.00 | R115.00 | +4.5% |
Standard Bank’s MyMo 2023 pricing can be found here.
| Nedbank PAYU Account | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R9.00/R1000 | R9.00 | R10.00/R1000 | R10.00 | 11.1% |
| Withdrawal (Other) | R11.00+R2.30/R100 | R22.50 | R12.00+R2.50/R100 | R24.50 | +8.9% |
| Withdrawal (POS) | R2.00 | R2.00 | R2.00 | R2.00 | – |
| Deposit (ATM) | R1.30/R100 | R6.50 | R1.50/R100 | R7.50 | +15.4% |
| Debit order (internal) | Free | R3.50 | +R3.50 | ||
| Debit order (external) | R5.50 | R3.50 | -36.4% | ||
| Monthly account fee (PAYT) | Free | Free | – |
| Nedbank Savvy Account | 2022 Fees | R500 transaction | 2023 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R2.30 / R100 | R11.50 | R2.50/R100 | R12.50 | +8.7% |
| Withdrawal (Other) | R11.00+R2.30 / R100 | R22.50 | R12.00+R2.50/R100 | R24.50 | +8.9% |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (ATM) | R1.30 / R100 | R6.50 | R1.50/R100 | R7.50 | +15.4% |
| Debit order (internal) | Free | Free | – | ||
| Debit order (external) | Free | Free | – | ||
| Account fee | R115.00 | R115.00 | – |
Nedbank’s 2023 pricing can be found here.
| 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 | – |
| 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
You can find FNB’s 2022/23 pricing here.
| Discovery Bank Transact Gold | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (ATM) | R4.50 + 1.75% of value | R13.25 | R5.00 + 2.25% of value | R16.25 | +22.6% |
| Withdrawal (POS) | Free | Free | Free | Free | – |
| Deposit (Retail) | R19.95/R5000 | R19.95 | R19.95/R5000 | R19.95 | – |
| Debit orders | Free | Free | – | ||
| Monthly account fee | R125.00 | R135.00 | +8.0% |
You can view the Discovery Bank Gold Transaction Account fees here.
| African Bank MyWORLD | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R8.50 / R1000 | R8.50 | R10.00/R1000 | R10.00 | +17.6% |
| Withdrawal (Other) | R8.50 / R1000 | R8.50 | R10.00/R1000 | R10.00 | +17.6% |
| Withdrawal (POS) | R2.00 | R2.00 | R2.00 | R2.00 | – |
| Deposit (Cash acceptor) | R2.00 / R100 | R10.00 | R3.50/R100 | R17.50 | +75% |
| Debit orders (external only) | R4.00 | R3.00 | -25% | ||
| Monthly account fee (PAYT) | Free | Free |
You can view the 2022/23 African Bank MyWorld Account fees here.
| TymeBank Account | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Debit card – PnP/Boxer) | R3.00* | R3.00 | R3.00 | R3.00 | – |
| Withdrawal (ATM) | R10.00 | R10.00 | R10.00 | R10.00 | – |
| Withdrawal (POS) | R3.00 | R3.00 | R3.00 | R3.00 | – |
| Deposit (PnP/Boxer) | R7.00 | R7.00 | R7.00 | R7.00 | – |
| Debit order (internal) | Free | Free | – | ||
| Debit order (external) | Free | Free | – | ||
| Monthly account fee (PAYT) | Free | Free | – |
* Customers can make free withdrawals by generating TymeCodes via USSD/Internet Banking/App (iOS/Android)
You can view the TymeBank Fees here.
| Bidvest Bank Grow Account (PAYT) | 2021/22 Fees | R500 transaction | 2022/23 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R6.00/R1000 | R6.00 | R6.50/R1000 | R6.50 | +8.3% |
| Withdrawal (Other) | R10.00 + R2.80/R100 | R24.00 | R10.00+R2.50/R100 | R22.50 | -6.3% |
| Withdrawal (POS with purchase) | R5.00 | R5.00 | R5.00 | R5.00 | – |
| Deposit (Branch) | 3.0% of value | R15.00 | R19.50* | R19.50 | +30.0% |
| Debit orders | R5.00 | R5.00 | – | ||
| Account fee (PAYT) | R6.00 | R6.00 | – |
*Retail only
You can view the Bidvest Bank Grow fee schedule here.
| Bank Zero | 2021 Fees | R500 transaction | 2022 Fees | R500 transaction | % Change |
|---|---|---|---|---|---|
| Withdrawal (ATM) | R9.00 / R1000 | R9.00 | R9.00 / R1000 | R9.00 | – |
| Withdrawal (POS) | R2.00 | R2.00 | R2.00 | R2.00 | – |
| Deposit (retail) | n/a | n/a | R19.95 | R19.95 | +R19.95 |
| Debit orders | Free | Free | |||
| Monthly account fee | Free | Free | – |
You can view Bank Zero’s 2023 pricing schedule here.
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