{"id":108609,"date":"2016-01-12T19:30:01","date_gmt":"2016-01-12T17:30:01","guid":{"rendered":"http:\/\/businesstech.co.za\/news\/?p=108609"},"modified":"2016-02-29T11:47:23","modified_gmt":"2016-02-29T09:47:23","slug":"here-are-your-banking-fees-for-2016","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/108609\/here-are-your-banking-fees-for-2016\/","title":{"rendered":"Here are your banking fees for 2016"},"content":{"rendered":"

[Update 29\/2\/2016]<\/strong> Capitec’s has released its fee schedule for 2016\/17, which has been added below.<\/p>\n

From January, new banking fees have kicked in at three of five of South Africa’s major banks.<\/p>\n

Detailed in the tables below are a selection of key transaction fees, and what customers would pay in processing R1,000 per transaction.<\/p>\n

These fees cover the charges across middle market accounts at South Africa’s retail banks on a pay-as-you-transact (PAYT) basis.<\/p>\n

The country’s banks offer various bundled and unlimited options which provide certain transactions free of charge, sometimes in a limited capacity.<\/p>\n

FNB updates its prices in the middle of the year (in June).<\/p>\n

BusinessTech has included\u00a0the standing fees at these two banks until the new prices are introduced later in 2016.<\/p>\n

\"Absa<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n
Absa Gold Cheque Account<\/th>\n2015 Fees<\/th>\nR1,000 transaction in 2015<\/th>\n2016 Fees<\/th>\nR1,000 transaction in 2016<\/th>\n% Change from 2015 to 2016<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR3.95 + R1.30\/R100<\/td>\nR16.95<\/td>\nR3.95 + R1.30\/R100<\/td>\nR16.95<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR9.95 + R1.30\/R100<\/td>\nR22.95<\/td>\nR9.95 + R1.30\/R100<\/td>\nR22.95<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n<\/td>\n<\/td>\nR3.95<\/td>\nR3.95<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR3.00 + R1.30\/R100<\/td>\nR16.00<\/td>\nR3.00 + R1.30\/R100<\/td>\nR16.00<\/td>\n–<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nFree<\/td>\n<\/td>\nFree<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR15.50<\/td>\n<\/td>\nR16.00<\/td>\n–<\/td>\n3.2%<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR33.00<\/td>\n<\/td>\nR40.00<\/td>\n–<\/td>\n21.2%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

\"Standard<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n
Standard Bank Elite Account<\/th>\n2015 Fees<\/th>\nR1,000 transaction in 2015<\/th>\n2016 Fees<\/th>\nR1,000 transaction in 2016<\/th>\n% Change from 2015 to 2016<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR4.00 + 1.15% of value<\/td>\nR15.50<\/td>\nR4.00 + 1.20% of value<\/td>\nR16.00<\/td>\n3.2%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR6.70 + R4.00 + 1.15% of value<\/td>\nR22.20<\/td>\nR6.70 + R4.00 + 1.20%<\/td>\nR22.70<\/td>\n2.3%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n<\/td>\n<\/td>\nR5.00<\/td>\n\u00a0R5.00<\/td>\n\u00a0–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR4.00 + 1.25% of value<\/td>\nR16.50<\/td>\nR4.00 + 1.30% of value<\/td>\nR17.00<\/td>\n3.0%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR4.00<\/td>\n<\/td>\nR4.20<\/td>\n<\/td>\n5.0%<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR12.50<\/td>\n<\/td>\nR13.10<\/td>\n<\/td>\n4.8%<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR53.00<\/td>\n<\/td>\nR55.00<\/td>\n<\/td>\n3.8%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

\"Nedbank<\/h3>\n
\n
\n\n\n\n\n\n\n\n\n\n
Nedbank Savvy Account<\/th>\n2015 Fees<\/th>\nR1,000 transaction in 2015<\/th>\n2016 Fees<\/th>\nR1,000 transaction in 2016<\/th>\n% Change from 2015 to 2016<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR3.50 + R1.28\/R100<\/td>\nR16.30<\/td>\nR4.00 + R1.32\/R100<\/td>\nR17.20<\/td>\n5.5%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR10.00 +\u00a0R1.28\/R100<\/td>\nR22.80<\/td>\nR11.00 + R1.32\/R100<\/td>\nR24.20<\/td>\n6.1%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n<\/td>\n<\/td>\nR4.00<\/td>\nR4.00<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR6.00 + R1.28\/R100<\/td>\nR18.80<\/td>\nR5.00 + R0.66\/R100<\/td>\nR11.60<\/td>\n-38.3%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR6.00<\/td>\n<\/td>\nR6.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR14.00<\/td>\n<\/td>\nR15.00<\/td>\n<\/td>\n7.1%<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR30.00<\/td>\n<\/td>\nR30.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

\"FNB<\/p>\n

\n
\n\n\n\n\n\n\n\n\n\n
FNB Gold Cheque Account<\/th>\n2015 Fees<\/th>\nR1,000 transaction in 2015<\/th>\n2016 Fees<\/th>\nR1,000 transaction in 2016<\/th>\n% Change from 2015 to 2016<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.70 per R500.00<\/td>\nR13.40<\/td>\nR3.95 + R1.30\/R100<\/td>\nR16.95<\/td>\n26.5%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR6.50 + (R6.70 per R500.00)<\/td>\nR19.90<\/td>\nR6.50 + R3.95 + R1.30\/R100<\/td>\nR23.45<\/td>\n17.8%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n<\/td>\n<\/td>\nFree<\/td>\n–<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\n0.70% of deposit value (min R5.50)<\/td>\nR7.00<\/td>\nR0.70\/R100 (minimum R5.50)<\/td>\nR7.00<\/td>\n–<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR3.70<\/td>\n<\/td>\nR3.70<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR16.00<\/td>\n<\/td>\nR16.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee<\/td>\nR31.50<\/td>\n<\/td>\nR100.00*<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

* FNB no longer lists PAYT fees in its brochures<\/small><\/p>\n

\"Capitec<\/p>\n

\n
\n\n\n\n\n\n\n\n
Capitec Global One<\/th>\n2015\/16\u00a0Fees<\/th>\nR1,000 transaction in 2015<\/th>\n2016\/17 Fees<\/th>\nR1,000 transaction in 2016<\/th>\n% Change from 2015 to 2016<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR5.00<\/td>\nR5.00<\/td>\nR5.50<\/td>\nR5.50<\/td>\n10.0%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR8.00<\/td>\nR8.00<\/td>\nR8.50<\/td>\nR8.50<\/td>\n6.3%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n\u00a0R1.25<\/td>\n\u00a0R1.25<\/td>\nR1.30<\/td>\nR1.30<\/td>\n4.0%<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\n70c \/R100<\/td>\nR7.00<\/td>\nR80c \/R100<\/td>\nR8.00<\/td>\n14.3%<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR5.00<\/td>\n<\/td>\nR5.25<\/td>\n<\/td>\n5.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

More on banking<\/h3>\n

Beware this banking scam on the rise in South Africa<\/a><\/strong><\/p>\n

Highest paid banking CEOs in South Africa<\/a><\/strong><\/p>\n

PIN-less banking coming to SA<\/a><\/strong><\/p>\n

Things South Africa is good at: banking, mobile and regulation<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

From January, new banking fees have kicked in at three of five of South Africa’s major banks – here’s what you’re in for.<\/p>\n","protected":false},"author":14,"featured_media":44482,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[961],"tags":[10335,1181,26],"class_list":["post-108609","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-fees","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/108609","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/14"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=108609"}],"version-history":[{"count":13,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/108609\/revisions"}],"predecessor-version":[{"id":114718,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/108609\/revisions\/114718"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/44482"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=108609"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=108609"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=108609"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}