{"id":374838,"date":"2020-02-18T10:14:14","date_gmt":"2020-02-18T08:14:14","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=374838"},"modified":"2020-02-25T08:41:52","modified_gmt":"2020-02-25T06:41:52","slug":"south-africas-cheapest-bank-accounts-capitec-vs-the-rest-2","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/banking\/374838\/south-africas-cheapest-bank-accounts-capitec-vs-the-rest-2\/","title":{"rendered":"South Africa’s cheapest bank accounts: Capitec vs the rest"},"content":{"rendered":"

Capitec has published its updated fee schedule for 2020\/21, including a price freeze on the monthly account fee, debit orders and digital banking costs.<\/p>\n

However, there are relatively steep increases for customers who continue to deal in cash.<\/p>\n

According to Capitec, digital banking is changing the way South Africans are handling their finances, which underpins its digital banking focus.<\/p>\n

While this bodes well for the bank’s ever-increasing presence in the middle market, the bank has lost some ground in the price war in the entry-level market which still largely deals in cash.<\/p>\n

Of the 14 entry-level accounts in South Africa, only two (Bidvest Bank’s Grow account and Standard Bank’s Access account) have a higher monthly account fee than Capitec’s Global One Account.<\/p>\n

Capitec customers can effectively pay off their monthly account fee through interest earned on a positive balance, but the entry-level market is increasingly seeing options that nix the monthly fee altogether, without these terms and conditions.<\/p>\n

When it comes to putting money into, or taking money out of one’s account, Capitec now also falls somewhere in the middle of all the banks – with newer entrants such as TymeBank, FNB Easy Zero and African Bank’s MyWORLD account undercutting the bank’s previous lead in this space.<\/p>\n

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Monthly fees<\/strong><\/p>\n

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Taking money out<\/strong><\/p>\n

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Putting money in<\/strong><\/p>\n

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Entry-level banking<\/strong><\/p>\n

South Africa\u2019s entry-level bank accounts vary greatly in form and functionality, with several lenders offering more than one entry-level account.<\/p>\n

For example, Nedbank has an extremely basic account in its MobiMoney account, which carries no monthly costs, but limited transactional capabilities.<\/p>\n

The same can be said for the FNB Easy Zero account, which was formerly a mobile-only account with no card. This has changed for the 2019\/20 period, but the account still cannot be used for debit orders.<\/p>\n

These accounts are meant for low transactions (with limits set on how much money can be processed each month), with entry-level bankers looking for slightly more sophisticated transactions encouraged to move to the next tier.<\/p>\n

It should also be noted that many of these accounts also offer rebates and interest on positive cash balances, which can offset many of the monthly transaction costs. These have not been taken into account here.<\/p>\n

Discovery Bank does not have an entry-level transactional account and thus has been excluded.<\/p>\n

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\n\n\n\n\n\n\n\n\n
Capitec Global One<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.00 \/ R1000<\/td>\nR6.00<\/td>\nR8.00 \/ R1000<\/td>\nR8.00<\/td>\n+33.3%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR8.00 \/ R1000<\/td>\nR8.00<\/td>\nR9.00 \/ R1000<\/td>\nR9.00<\/td>\n+12.5%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.00<\/td>\nR1.00<\/td>\nR1.20<\/td>\nR1.20<\/td>\n+20.0%<\/td>\n<\/tr>\n
Deposits (Cash at ATM)<\/td>\nR1.00 \/ R100<\/td>\nR5.00<\/td>\nR1.20 \/ R100<\/td>\nR6.00<\/td>\n+20.0%<\/td>\n<\/tr>\n
Debit orders (ATM)<\/td>\nR3.50<\/td>\n<\/td>\nR3.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR5.00<\/td>\n<\/td>\nR5.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n
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\n\n\n\n\n\n\n\n\n\n
Absa Transact Account<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.50<\/td>\nR6.50<\/td>\nR6.00\/R1000<\/td>\nR6.00<\/td>\n-7.7%<\/td>\n<\/tr>\n
Withdrawal (Saswitch)<\/td>\nR10.50 + R1.50 \/ R100<\/td>\nR18.00<\/td>\nR11.50 + R2.00\/R100<\/td>\nR21.50<\/td>\n+19.4%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.60<\/td>\nR1.60<\/td>\nR1.00<\/td>\nR1.00<\/td>\n-37.5%<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR4.50 + R1.50 \/ R100<\/td>\nR12.00<\/td>\nR2.00\/R100<\/td>\n\u00a0R10.00<\/td>\n-20.0%<\/td>\n<\/tr>\n
Debit orders (internal)<\/td>\nFree<\/td>\n<\/td>\nFree<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit orders (external)<\/td>\nR3.80<\/td>\n<\/td>\nR3.50<\/td>\n<\/td>\n-7.9%<\/td>\n<\/tr>\n
Monthly account fee (PAYT)<\/td>\nR5.30<\/td>\n<\/td>\nR4.90<\/td>\n<\/td>\n-7.5%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Absa’s full 2020 pricing can be found here<\/a>.<\/strong><\/p>\n

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\n\n\n\n\n\n\n\n\n\n
Standard Bank MyMo<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.50 >R1000< R13.00<\/td>\nR6.50<\/td>\nR6.50 >R1000< R13.00<\/td>\nR6.50<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR12.00 >R1000< R18.00<\/td>\nR12.00<\/td>\nR12.00 >R1000< R18.00<\/td>\nR12.00<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.40<\/td>\nR1.40<\/td>\nR1.40<\/td>\nR1.40<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR1.65\/R100<\/td>\nR8.25<\/td>\nR1.70\/R100<\/td>\nR8.50<\/td>\n+3.0%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR3.50<\/td>\n<\/td>\nR3.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR3.50<\/td>\n<\/td>\nR3.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR4.95<\/td>\n<\/td>\nR4.95<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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\n\n\n\n\n\n\n\n\n\n
Standard Bank Access Account<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR1.85\/R100<\/td>\nR9.25<\/td>\nR1.90\/R100<\/td>\nR9.50<\/td>\n+2.7%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR9.00 + R1.85\/R100<\/td>\nR18.25<\/td>\nR9.00 + R1.90\/R100<\/td>\nR18.50<\/td>\n+1.4%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.40<\/td>\nR1.40<\/td>\nR1.40<\/td>\nR1.40<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR1.65\/R100<\/td>\nR8.25<\/td>\nR1.70\/R100<\/td>\nR8.50<\/td>\n+3.0%<\/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>\nR5.50<\/td>\n<\/td>\nR5.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee<\/td>\nR5.60<\/td>\n<\/td>\nR5.80<\/td>\n<\/td>\n+3.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Standard Bank’s MyMo 2020<\/a><\/strong> pricing can be found here. The Access Account 2020<\/a> <\/strong>pricing can be found here.<\/p>\n

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\n\n\n\n\n\n\n\n\n\n
Nedbank MobiMoney<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR10.00<\/td>\nR10.00<\/td>\nR10.00<\/td>\nR10.00<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\nn\/a<\/td>\n<\/tr>\n
Deposit (Intelligent depositor\u00a0ATM)<\/td>\nFree to R4000<\/td>\nFree<\/td>\nFree to R4000<\/td>\nFree<\/td>\n–<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Account fee<\/td>\nFree<\/td>\n<\/td>\nFree<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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\n\n\n\n\n\n\n\n\n\n
Nedbank PAYU Account<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR7.00<\/td>\nR7.00<\/td>\nR7.00\/R1000<\/td>\nR7.00<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR8.00 + R2.00\/R100<\/td>\nR18.00<\/td>\nR10.00 + R2.00\/R100<\/td>\nR20.00<\/td>\n11.1%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR2.00<\/td>\nR2.00<\/td>\nR2.00<\/td>\nR2.00<\/td>\n–<\/td>\n<\/tr>\n
Deposit (Intelligent depositor\u00a0ATM)<\/td>\nR1.00\/R100<\/td>\nR5.00<\/td>\nR1.00\/R100<\/td>\nR5.00<\/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>\nR5.50<\/td>\n<\/td>\nR5.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Monthly account fee (PAYT)<\/td>\nFree<\/td>\n<\/td>\nFree<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

Nedbank’s 2020 pricing<\/a> can be found here<\/strong>.<\/p>\n

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\n\n\n\n\n\n\n\n\n\n
FNB Easy Zero<\/th>\n2018\/19 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR10.95 or R13.95<\/td>\nR10.95<\/td>\nR6.00\/R1000<\/td>\nR6.00<\/td>\n-65.2%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nn\/a<\/td>\nn\/a<\/td>\nR10.00\/R1000<\/td>\nR10.00<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.50<\/td>\nR1.50<\/td>\nR1.00<\/td>\nR1.00<\/td>\n–<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR10.95 or R13.95<\/td>\nR10.95<\/td>\nFree to R1500<\/td>\nFree<\/td>\n-100.0%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nn\/a<\/td>\n<\/td>\nn\/a<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee<\/td>\nFree<\/td>\n<\/td>\nFree<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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\n\n\n\n\n\n\n\n\n\n
FNB Easy Account (PAYU)<\/th>\n2018\/19 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR1.90\/R100<\/td>\nR9.50<\/td>\nR6.00\/R1000<\/td>\nR6.00<\/td>\n-36.8%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR9.00 + R1.90\/R100<\/td>\nR18.50<\/td>\nR10.00\/R1000<\/td>\nR10.00<\/td>\n-45.9%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.60<\/td>\nR1.60<\/td>\nR1.00<\/td>\nR1.00<\/td>\n-37.5%<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR0.95\/R100<\/td>\nR4.75<\/td>\nR1.00\/R100<\/td>\nR5.00<\/td>\n+5.2%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nFree<\/td>\n<\/td>\nR2.50<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR3.75<\/td>\n<\/td>\nR3.50<\/td>\n<\/td>\n-6.7%<\/td>\n<\/tr>\n
Account fee<\/td>\nR5.75<\/td>\n<\/td>\nR4.95<\/td>\n<\/td>\n-13.9%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

You can findFNB’s Easy 2019\/20 <\/a><\/strong>pricing guide here. The Easy Zero 2019\/20 price guide is here<\/a><\/strong>.<\/p>\n

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\n\n\n\n\n\n\n\n\n
FinBond FinSave Value<\/th>\n2018\/19 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\n–<\/td>\n–<\/td>\nR10.00 + 0.9% of value<\/td>\nR14.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\n–<\/td>\n–<\/td>\nR10.00 + 0.9% of value<\/td>\nR14.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n–<\/td>\n–<\/td>\nR3.00<\/td>\nR3.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Deposit (Branch)<\/td>\n–<\/td>\n–<\/td>\nR2.00\/R100<\/td>\nR10.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit orders<\/td>\n–<\/td>\n<\/td>\nR2.50<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\n–<\/td>\n<\/td>\nFree<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n
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\n\n\n\n\n\n\n\n\n
FinBond FinSave Lite<\/th>\n2018\/19 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\n–<\/td>\n–<\/td>\nR12.00 + 0.9% of value<\/td>\nR16.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\n–<\/td>\n–<\/td>\nR12.00 + 0.9% of value<\/td>\nR16.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n–<\/td>\n–<\/td>\nR3.50<\/td>\nR3.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Deposit (Branch)<\/td>\n–<\/td>\n–<\/td>\nR2.50\/R100<\/td>\nR12.50<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit orders<\/td>\n–<\/td>\n<\/td>\nR2.50<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\n–<\/td>\n<\/td>\nR4.95<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

You can view the FinBond FinSave Lite<\/a><\/strong> and FinSave Value<\/a><\/strong> fees here.<\/p>\n

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\n\n\n\n\n\n\n\n\n
African Bank MyWORLD<\/th>\n2018 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native ATM)<\/td>\n–<\/td>\n–<\/td>\nR6.00 \/R1000<\/td>\nR6.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (Other ATM)<\/td>\n–<\/td>\n–<\/td>\nR6.00 \/ R1000<\/td>\nR6.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n–<\/td>\n–<\/td>\nR2.00<\/td>\nR2.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\n–<\/td>\n–<\/td>\n2% of amount<\/td>\nR10.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit orders (external only)<\/td>\n–<\/td>\n–<\/td>\nR4.00<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Monthly account fee (PAYT)<\/td>\n–<\/td>\n<\/td>\nFree<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

You can view the African Bank MyWorld Account<\/a> fees here.<\/strong><\/p>\n

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\n\n\n\n\n\n\n\n\n\n
TymeBank Account<\/th>\n2018 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native ATM)<\/td>\n–<\/td>\n–<\/td>\nFree<\/td>\nFree<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (Other ATM)<\/td>\n–<\/td>\n–<\/td>\nR8.00 \/ R1 000<\/td>\nR8.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\n–<\/td>\n–<\/td>\nR2.00<\/td>\nR2.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Deposit (PnP\/Boxer)<\/td>\n–<\/td>\n–<\/td>\nR4.00<\/td>\nR4.00<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\n–<\/td>\n–<\/td>\nFree<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Debit order (external)<\/td>\n–<\/td>\n–<\/td>\nR2.00<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n
Monthly account fee (PAYT)<\/td>\n–<\/td>\n<\/td>\nFree<\/td>\n<\/td>\nn\/a<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

You can view the TymeBank Fees<\/a> here.<\/strong><\/p>\n

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\n
\n\n\n\n\n\n\n\n\n\n
Old Mutual Money Account<\/th>\n2018\/19 Fees<\/th>\nR500 transaction<\/th>\n2019\/20 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.50<\/td>\nR6.50<\/td>\nR7.00\/R1000<\/td>\nR7.00<\/td>\n+7.7%<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR8.50<\/td>\nR8.50<\/td>\nR10.00\/R1000<\/td>\nR10.00<\/td>\n+17.6%<\/td>\n<\/tr>\n
Withdrawal (POS)<\/td>\nR1.50<\/td>\nR1.50<\/td>\nR1.00<\/td>\nR1.00<\/td>\n-33.3%<\/td>\n<\/tr>\n
Deposit (ATM)<\/td>\nR7.50<\/td>\nR7.50<\/td>\nR5.00*<\/td>\nR5.00<\/td>\n-33.3%<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR3.50<\/td>\n<\/td>\nFree<\/td>\n<\/td>\n-100%<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR3.50<\/td>\n<\/td>\nR2.00<\/td>\n<\/td>\n-42.9%<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR4.50<\/td>\n<\/td>\nR4.95<\/td>\n<\/td>\n+10.0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

* At Shoprite, Checkers and uSave<\/em><\/p>\n

You can view the Old Mutual Money Account fee schedule for 2019\/20<\/a> here.<\/strong><\/p>\n

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\n
\n\n\n\n\n\n\n\n\n\n
Bidvest Bank Grow Account (PAYT)<\/th>\n2019 Fees<\/th>\nR500 transaction<\/th>\n2020 Fees<\/th>\nR500 transaction<\/th>\n% Change<\/th>\n<\/tr>\n
Withdrawal (Native)<\/td>\nR6.00<\/td>\nR6.00<\/td>\nR6.00<\/td>\nR6.00<\/td>\n–<\/td>\n<\/tr>\n
Withdrawal (Other)<\/td>\nR6.00 + R1.40\/R100<\/td>\nR13.00<\/td>\nR6.00 + R1.80\/R100<\/td>\nR15.00<\/td>\n+15.4%<\/td>\n<\/tr>\n
Withdrawal (POS with purchase)<\/td>\nR5.00<\/td>\nR5.00<\/td>\nR3.00<\/td>\nR3.00<\/td>\n-40.0%<\/td>\n<\/tr>\n
Deposit (Branch)<\/td>\n0.80% of value<\/td>\nR4.00<\/td>\n0.80% of value<\/td>\nR4.00<\/td>\n–<\/td>\n<\/tr>\n
Debit order (internal)<\/td>\nR5.00<\/td>\n<\/td>\nR5.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Debit order (external)<\/td>\nR5.00<\/td>\n<\/td>\nR5.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n
Account fee (PAYT)<\/td>\nR6.00<\/td>\n<\/td>\nR6.00<\/td>\n<\/td>\n–<\/td>\n<\/tr>\n<\/tbody>\n<\/table><\/div>\n<\/div>\n

You can view the Bidvest Bank Grow 2020 fee schedule <\/a>here.<\/strong><\/p>\n

\n

Read: Capitec announces new fees for 2020<\/a><\/strong><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Capitec has published its updated fee schedule for 2020\/21, including a price freeze on the monthly account fee, debit orders and digital banking costs.<\/p>\n","protected":false},"author":14,"featured_media":320757,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_sma_x_autopost_status":"idle","_sma_x_autopost_error":"","_sma_x_post_id":"","_sma_x_attempts":0,"footnotes":""},"categories":[961],"tags":[29,4762,7190,1798,13125,76,26,1799,1110,499,13455],"class_list":["post-374838","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-absa","tag-african-bank","tag-bidvest-bank","tag-capitec","tag-finbond","tag-fnb","tag-headline","tag-nedbank","tag-old-mutual","tag-standard-bank","tag-tymebank"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/374838","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=374838"}],"version-history":[{"count":6,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/374838\/revisions"}],"predecessor-version":[{"id":374918,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/374838\/revisions\/374918"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/320757"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=374838"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=374838"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=374838"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}