3 years ago
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ARTICLE AD BOX
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.
| 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.
| 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 | – |
| 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.
| 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% |
| 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.
| 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 | – |
| 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.
| 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 | – |
| 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 [email protected] 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.
| 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.
| 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.
| 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.
| 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.
| 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.
Here are all your new banking fees for 2023
English (US)