Poll: Who do you bank with?
Capitec
31.58%
FNB
26.32%
Standard Bank
0%
Nedbank
10.53%
ABSA
26.32%
African Bank
5.26%
Rand Merchant Bank (RMB)
0%
Investec Bank
0%
* You voted for this item.
This poll is closed.Show Results


SA Banking Fees Compared
#1
I did some digging and compared the banking fees of the 5 major South African banks. Feel free to discuss the different bank accounts and make suggestions if you want me to dig deeper at additional information you want to view. Keep in mind that the banks especially FNB has some of the most ridiculous UI and navigation getting to the fees and caveats of each account takes like 5 clicks viewing pages upon pages. 

I added additional links for each account that goes to the full breakdown of each account. There are a lot of hidden charges so please use the links posted with each bank account to investigate further.

Below follows the different bank accounts from Capitec, FNB, Standard Bank, ABSA, and Nedbank and their associated fees:

FNB Bank Account Fees:

FNB Easy Account - R4.95 per month
https://www.fnb.co.za/downloads/pricing-...016-17.pdf

FNB Gold cheque account - R100 per month
https://www.fnb.co.za/downloads/pricing-...eAndCC.pdf

FNB Premier Cheque Account - R199 per month
https://www.fnb.co.za/downloads/pricing-...eAndCC.pdf

FNB Private Clients Cheque Account - R285 per month
https://www.fnb.co.za/downloads/pricing-...-guide.pdf

FNB Private Wealth Cheque Account - R419.00 per month
https://www.fnb.co.za/downloads/pricing-...-guide.pdf

For Seniors:

FNB Encore Gold Cheque Account - R65 per month
https://www.fnb.co.za/downloads/pricing-...ccount.pdf

FNB Premier Select for retirees - As a retiree you could pay no monthly cheque account fees if you keep a minimum of R15 000 in any Savings and Cash Investment account and R10 000 in a Premier Select Cheque Account. Plus you can save on your monthly credit card fees and we will match your credit card interest rate.

ABSA Bank Account Fees:

ABSA Gold Account - R98 per month
Minimum income of R10 000 per month
https://www.absa.co.za/personal/bank/an-...d-account/

ABSA Platinum Account -  R159 per month
Minimum income of R25 000 per month.
https://www.absa.co.za/personal/bank/an-...m-account/

ABSA Islamic Flexi Value Bundle - R55 per month
Minimum income between R3 000 and R9 999 per month
https://www.absa.co.za/personal/bank/isl...ue-bundle/

ABSA Islamic Gold Value Bundle - R98 per month
Minimum income of R10 000 per month
https://www.absa.co.za/personal/bank/isl...ue-bundle/

ABSA Islamic Platinum Value Bundle - R149 per month
Minimum income of R25 000 per month
https://www.absa.co.za/personal/bank/isl...ue-bundle/

ABSA Islamic Youth account - Free
Younger than 19 years of age
An annual profit share calculated at Absa’s financial year-end (31 December) and paid into your account on 25 January of the following year
https://www.absa.co.za/personal/bank/isl...h-account/

ABSA Private Banking Account (Exceller Package) - R399 per month
Minimum income of R62 500 per month.
https://www.absa.co.za/private-banking/e...r-package/

ABSA Private Banking Account (Marhaba Package) - R335 per month
Minimum income of R62 500 per month.
https://www.absa.co.za/private-banking/marhaba-package/

ABSA MegaU Account - Free
Younger than 19 years of age
https://www.absa.co.za/personal/bank/you...u-account/

ABSA Student Silver - R22.50 per month
18 - 27  years old and must be a full-time student studying towards an undergraduate or postgraduate degree or qualification of one year or more.
https://www.absa.co.za/personal/bank/you...t-account/

ABSA Islamic Youth - Free
Younger than 19 years of age
https://www.absa.co.za/personal/bank/isl...h-account/

ABSA Transact Account - R4.95 per month
Unemployed or earn less than R2 000 per month
https://www.absa.co.za/personal/bank/an-...t-account/

ABSA Flexi Account - R16 per month
Minimum income of R2 000 per month
https://www.absa.co.za/personal/bank/an-...i-account/

ABSA Flexi Bundle - R55 per month
Minimum income of R3 000 per month
https://www.absa.co.za/personal/bank/an-...e-account/

For Seniors:

Absa Prosperity Account - R42 per month
55 years or older
https://www.absa.co.za/personal/bank/an-...e-account/

Additional ABSA banking fees and ABSA transaction fees:

https://www.absa.co.za/content/dam/south...ricing.pdf

https://www.absa.co.za/content/dam/south...ricing.pdf

Standard Bank Banking Fees:

Standard Bank Access Account - R4.99 per month
You are 16 years of age or older
http://www.standardbank.co.za/standardba...ss-Account
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Elite Banking - R100 per month
Minimum gross monthly income of R 5 000
http://www.standardbank.co.za/standardba...te-Banking
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Prestige Banking - R190 per month
Minimum gross monthly income of R 25 000 or more
http://www.standardbank.co.za/standardba...ge-Banking
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Private Banking - R325 per month
Minimum gross monthly income of R 58 000 or more or have net investible assets of R 3m or more
http://www.standardbank.co.za/standardba...te-Banking
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Private Banking Signature - R425 per month
Earn R 92 000 or more per month (R 1.1 million or more per annum).
http://www.standardbank.co.za/standardba...-Signature
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank (sum)1 Account - Free
Designed for children and young achievers under 16, (sum)1 is a safe, easy and educational introduction to banking. Open a (sum)1 account for your child to unlock the Kidz Banking app experience.
http://www.standardbank.co.za/standardba...nts/(sum)1
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Student Achiever Account - R4.99 per month
Between 16 and 23 years of age
http://www.standardbank.co.za/standardba...t-Achiever
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Professional Banking Account - R199 per month
Between 18 and 30 years of age
http://www.standardbank.co.za/standardba...al-Banking
http://www.standardbank.co.za/standimg/S...ricing.pdf

For Seniors:

Standard Bank Consolidator Current Account - R45 per month
You are over 55 years old AND You have a gross monthly income of R 8 000 or more
http://www.standardbank.co.za/standardba...nt-Account
http://www.standardbank.co.za/standimg/S...ricing.pdf

Credit Cards:

Standard Bank Platinum Credit Card - R65 per month
Earn a monthly income of R 58 000 or more
https://www.standardbank.co.za/standardb...redit-card
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank Titanium Credit Card - R55 per month
Earn a monthly income of R 25 000 or more
https://www.standardbank.co.za/standardb...redit-card
http://www.standardbank.co.za/standimg/S...ricing.pdf

Standard Bank World Citizen Credit Card - R225 per month
Earn a monthly income of R 25 000 or more
https://www.standardbank.co.za/standardb...redit-Card
http://www.standardbank.co.za/standimg//...ricing.pdf

Standard Bank Gold Credit Card - R45 per month
Earn a monthly income of R 5 000 or more
https://www.standardbank.co.za/standardb...redit-card
http://www.standardbank.co.za/standimg/S...ricing.pdf

Nedbank Banking Fees:

Nedbank Pay-as-you-use Account - R5 per month
Individuals over the age of 16 years.
https://www.nedbank.co.za/content/nedban...u-use.html
http://fees.nedbank.co.za/nedbank/applic...es2017.pdf

Nedbank Savvy Bundle Account - R180 per month
Minimum income of R3 000 per month
https://www.nedbank.co.za/content/nedban...undle.html
http://fees.nedbank.co.za/nedbank/applic...es2017.pdf

Nedbank Savvy Plus Account - R100 per month 
Minimum income of R3 000 per month
https://www.nedbank.co.za/content/nedban...-plus.html
http://fees.nedbank.co.za/nedbank/applic...es2017.pdf

Nedbank Professional Banking - R299 per month
http://fees.nedbank.co.za/pricing-guide-...g-bundle-3
http://fees.nedbank.co.za/nedbank/action...ileid=9357

Nedbank Professional Banking (Young Professionals) - R149 per month
Under 30 years old and hold a 4 year qualification.
https://www.nedbank.co.za/content/nedban...onals.html
http://fees.nedbank.co.za/pricing-guide-...g-bundle-3
http://fees.nedbank.co.za/nedbank/action...ileid=9357

Nedbank Professional Banking Pay-as-you-use - R105 per month
http://fees.nedbank.co.za/pricing-guide-...asyouuse-2
http://fees.nedbank.co.za/nedbank/action...ileid=9357

Nedbank Private Wealth (Gold Package) - R84 per month
Minimum income of R1,5 million per year and/or investable assets greater than R5 million (excluding primary residence).
https://www.nedbankprivatewealth.co.za/s...te-banking
https://www.nedbank.co.za/content/nedban...ealth.html

Nedbank Private Wealth (Pay as you use) - R105 per month
Minimum income of R1,5 million per year and/or investable assets greater than R5 million (excluding primary residence).
https://www.nedbankprivatewealth.co.za/s...te-banking
https://www.nedbank.co.za/content/nedban...ealth.html

Nedbank Private Wealth (Platinum Package) - R363 per month
Minimum income of R1,5 million per year and/or investable assets greater than R5 million (excluding primary residence).
https://www.nedbankprivatewealth.co.za/s...te-banking
https://www.nedbank.co.za/content/nedban...ealth.html

https://www.nedbankprivatewealth.co.za/n...ileid=5204
https://www.nedbank.co.za/content/nedban...nking.html
http://fees.nedbank.co.za/pricing-guide-...ay-banking

Capitec Bank Account Fees:

Capitec Bank Account (Global One) - R5.50 per month
Interest 5.35% - 5.90% per year 
https://www.capitecbank.co.za/global-one/transact/fees
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#2
Holy smokes, this is so awesome, thank you for all the effort that went into this.

#3
It's a pleasure that's what happens 11 o clock at night.
Buy altcoins with bitcoins here Changelly

#4
I always wanted to compare but way to lazy... Thanks.. Great work

Sent from my SM-N910F using the Platinum Wealth app

#5
BUT, FNB premier cheque + credit card is about R300 something (all inclusive costs...so no extra costs for transactions, withdrawing etc... flat rate).

Considering you get more or close to that back in eBucks every month, it is almost fair to say that FNB is the cheapest (if you put value or make use of eBucks).

#6
FNB's Ebucks seems like a you need to spend your money agreement whereas Capitec allows you to bank which is all you need to do.

Then again I am not a FNB customer perhaps someone can give a real world example(s) how ebucks works? Maybe a thread dedicated to ebucks... I have always been interested, but also too lazy to research it.

#7
I just carry on with everyday shopping and get eBucks back. Some do, but I don't go out of my way to earn extra eBucks other than logging onto Wesbank once a month.

Sent from my HUAWEI VNS-L31 using Tapatalk

#8
(04-18-2017, 06:06 PM)Hamster Wrote: I just carry on with everyday shopping and get eBucks back. Some do, but I don't go out of my way to earn extra eBucks other than logging onto Wesbank once a month.

Sent from my HUAWEI VNS-L31 using Tapatalk

Do you make more Ebucks back than what you spend on banking fees?

I don't mind doing a in depth dive into Ebucks for us. Although I have no idea how ebucks works and just thinking of going back to FNB's website gives me the shivers.
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#9
I'm with ABSA Private bank and my cheque account and transactions are free as I have an investment with ABSA - my credit card costs me R75 per month though, so total banking costs = R75/mnth

#10
(04-18-2017, 06:40 PM)Spreadsheet Ranger Wrote: Do you make more Ebucks back than what you spend on banking fees?

I don't mind doing a in depth dive into Ebucks for us. Although I have no idea how ebucks works and just thinking of going back to FNB's website gives me the shivers.

Most of the time I do...just. Some of the guys on mybb take it very seriously and earn a ton of it per month.

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#11
Great work.

Just a suggestion but Nedbank Professional Banking account is great. R150 if you're under 30. Perhaps add that too?
I have also great service using Investec and their bond rates are very good.

#12
Oh my! Not sure how I missed that. Apologies, I will add the Nedbank Professional Banking account tonight.
Buy altcoins with bitcoins here Changelly

#13
Incredible thread 
Thanks

#14
(04-19-2017, 09:16 AM)Frans Botes Wrote: Great work.

Just a suggestion but Nedbank Professional Banking account is great. R150 if you're under 30. Perhaps add that too?
I have also great service using Investec and their bond rates are very good.
Awesome thanks, can we also do a poll? Would love to know which account people actually use!

#15
(04-19-2017, 09:31 PM)Frans Botes Wrote: Awesome thanks, can we also do a poll? Would love to know which account people actually use!

Poll added.
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