Standard Bank’s new banking fees for 2025 – including a new private account
Standard Bank has announced its banking fee changes for 2025, including the launch of a new account in its private banking suite: the Evolve Account.
The group said that it has tried to contain fee hikes for customers in light of the current economic climate, with transactional accounts such as the Sum1 and revamped Achieva Accounts seeing no monthly fee hike for the year.
For transactions, though, some adjustments have been made, especially regarding ATM charges for withdrawals.
Withdrawals at Standard Bank ATMs now cost R10 per R1,000 for the first R2,000 a customer withdraws each month. This is up from R9 per R1,000 in 2024.
Withdrawing from any other bank’s ATM in South Africa will cost R10.50 per R1,000 for the first R2,000 a customer withdraws that month. This is up from R10 per R1,000 in 2024.
For customers with higher monthly ATM withdrawal needs (beyond the R2,000 limit), a rate of R2.65 per R100 or part thereof will apply. This is up from R2.40 per R100 in 2024.
It should be noted that the R2,000 limit is shared between Standard Bank ATM and other ATM withdrawals.
The table below outlines the changes in key transactions:
| Standard Bank ACHIEVA | 2024 Fees | R500 trans. | 2025 Fees | R500 trans. | % Change |
|---|---|---|---|---|---|
| Withdrawal (Native) | R9.00/R1000 | R9.00 | R10.00/R1000 | R10.00 | +11% |
| Withdrawal (Other) | R10.00/R1000 | R10.00 | R10.50/R1000 | R10.50 | +5% |
| Withdrawal (POS) | R1.40 | R1.40 | Free | Free | -100% |
| Deposit | R1.40/R100 | R7.00 | R1.60/R100 | R8.00 | +14% |
| Debit order | R3.50 | R3.50 | – | ||
| Monthly Account | R85.00** | R90.00 | +6% |
The bank noted that customers can withdraw cash at till points from many retailers nationwide at no cost.
“We’ve seen more customers using retailers for cash withdrawals, we encourage this as it is more convenient and cheaper for our customers,” the group said.
To encourage digital banking, the bank has increased certain in-branch service fees.
In line with the shift to digital, Standard Bank has reduced its fees for lower-value immediate payments, including PayShap, to R7 for any immediate payment below R2,000, and has cut that same fee for payments below R100 to only R1 per transaction.
The group’s monthly account fee changes are outlined below:
| Account | 2024 Fee | 2025 Fee | Change |
|---|---|---|---|
| Access Account | R6.95 | R7.50 | +7.9% |
| Elite/ACHIEVA | R85.00 | R90.00 | +5.9% |
| Consolidator | Free | Free | – |
| MyMo | R6.95 | R7.50 | +7.9% |
| MyMo Plus | R115.00 | R115.00 | – |
| Prestige PAYT | R135.00 | R145.00 | +7.4% |
| Prestige Evolve | New | R240.00 | – |
| Private Banking | R420.00 | R460.00 | +9.5% |
| Private Evolve | New | R445.00 | – |
| Professional Banking | R270.00 | R280.00 | +3.7% |
| Professional Evolve | New | R270.00 | – |
| Signature | R530.00 | R580.00 | +9.4% |
| Student Achiever | R11.50 | R11.50 | – |
| Sum1 | Free | Free | – |
All the banking fees for each account can be found on Standard Bank’s website.
New account
Standard Bank also announced the launch of the Evolve Account, a new addition to its Private Banking suite.
The transactional account features a lower monthly fee and comes with a linked, overdraft-style credit facility, offering instant access to additional funds when needed.
The Evolve Account also provides:
- 50% off the partner’s monthly account fees, adding more value for couples.
- 3X more UCount Rewards Points on purchases.
- Exclusive travel and lifestyle benefits, including airport lounge access and discounts on hotel bookings.
The Evolve account options are now available on the Prestige, Professional and Private banking accounts.
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