Many South African banks have significantly higher transaction fees for ATM withdrawals than getting cash from till points, with one charging up to R23.50 to withdraw R500.<\/p>\n\n\n\n
In 2026, most major banks charge between R10 and R12 for ATM withdrawals, with most charging more for larger cash amounts.<\/p>\n\n\n\n
BusinessTech looked at which bank charged the most to access cash from an account.<\/p>\n\n\n\n
We looked at the withdrawal fees for mid-range bank account options\u2014usually catering to people earning between R10,000 and R40,000 per month\u2014and what it would cost to withdraw R500.<\/p>\n\n\n\n
While many banks also offer reduced transaction fees if you withdraw from one of their ATMs, or have bundled options that offer a certain number of free withdrawals, we looked solely at the core transaction fee.<\/p>\n\n\n\n
When comparing the fees for withdrawing R500 from an ATM, many banks are tied for the lowest cost at R10 per withdrawal.<\/p>\n\n\n\n
These banks charge a flat fee of R10 for amounts under R1,000, including Nedbank, Capitec, and GoTyme.<\/p>\n\n\n\n
Many banks do not have their own ATM systems, however. This makes it difficult to compare these types of withdrawals.<\/p>\n\n\n\n
The highest withdrawal fee for a bank that operates its own ATM network is charged by FNB, which charges R14 for R500.<\/p>\n\n\n\n
For ATMs outside a bank’s network, FNB charges the highest withdrawal fee, at R26.00 for R500.<\/p>\n\n\n\n
Some banks, such as Discovery and GoTyme, do not have their own ATM systems and do not offer reduced fees for withdrawals from any group of ATMs.<\/p>\n\n\n\n
For cash withdrawals at till points, most banks charge between R1 and R3, and some offer free transactions at specific retailers.<\/p>\n\n\n\n
Banks such as Nedbank and TymeBank have partnerships with certain retailers to offer free cash withdrawals at the tills.<\/p>\n\n\n\n
Below is a comparison of the withdrawal fees for South Africa\u2019s major banks, including ATM fees and till point withdrawal fees.<\/p>\n\n\n\n
Bank and account name<\/strong><\/td>| Withdrawal (Native ATM)<\/strong><\/td> | R500 Withdrawal<\/strong><\/td><\/tr> | FNB Gold Aspire<\/td> | R2.80 per R100<\/td> | R14.00<\/td><\/tr> | Absa Gold Value Account<\/td> | R2.70 per R100<\/td> | R13.50<\/td><\/tr> | Standard Bank MyMo plus<\/td> | R2.65 per R100<\/td> | R13.25<\/td><\/tr> | Nedbank Migoals plus<\/td> | R10.00<\/td> | R10.00<\/td><\/tr> | Capitec Global One<\/td> | R10.00 per R1,000<\/td> | R10.00<\/td><\/tr> | African Bank MyWORLD<\/td> | R10.00 per R1,000<\/td> | R10.00<\/td><\/tr><\/tbody><\/table><\/div><\/figure>\n\n\n\n | Withdrawal fees from other banks’ ATMs<\/h2>\n\n\n\n
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