Jump to content
Spreadsheet Ranger

SA Banking Fees Compared

Who do you bank with?  

21 members have voted

  1. 1. Who do you bank with?

    • Capitec
      7
    • FNB
      6
    • Standard Bank
      0
    • Nedbank
      2
    • ABSA
      5
    • African Bank
      1
    • Rand Merchant Bank (RMB)
      0
    • Investec Bank
      0


Recommended Posts

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-guide/products/Easy_Account_Pricing_Guide_2016-17.pdf

 

FNB Gold cheque account - R100 per month

https://www.fnb.co.za/downloads/pricing-guide/products/FNB_PricingGuide_GoldChequeAndCC.pdf

 

FNB Premier Cheque Account - R199 per month

https://www.fnb.co.za/downloads/pricing-guide/products/FNB_PricingGuide_PremierChequeAndCC.pdf

 

FNB Private Clients Cheque Account - R285 per month

https://www.fnb.co.za/downloads/pricing-guide/Private-Clients-Pricing-guide.pdf

 

FNB Private Wealth Cheque Account - R419.00 per month

https://www.fnb.co.za/downloads/pricing-guide/Private-Wealth-Pricing-guide.pdf

 

For Seniors:

 

FNB Encore Gold Cheque Account - R65 per month

https://www.fnb.co.za/downloads/pricing-guide/products/FNB_PricingGuide_EncoreGoldAccount.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-account/gold-account/

 

ABSA Platinum Account -  R159 per month

Minimum income of R25 000 per month.

https://www.absa.co.za/personal/bank/an-account/platinum-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/islamic-banking/islamic-flexi-value-bundle/

 

ABSA Islamic Gold Value Bundle - R98 per month

Minimum income of R10 000 per month

https://www.absa.co.za/personal/bank/islamic-banking/islamic-gold-value-bundle/

 

ABSA Islamic Platinum Value Bundle - R149 per month

Minimum income of R25 000 per month

https://www.absa.co.za/personal/bank/islamic-banking/islamic-platinum-value-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/islamic-banking/islamic-youth-account/

 

ABSA Private Banking Account (Exceller Package) - R399 per month

Minimum income of R62 500 per month.

https://www.absa.co.za/private-banking/exceller-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/youth-student-banking/megau-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/youth-student-banking/student-account/

 

ABSA Islamic Youth - Free

Younger than 19 years of age

https://www.absa.co.za/personal/bank/islamic-banking/islamic-youth-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-account/transact-account/

 

ABSA Flexi Account - R16 per month

Minimum income of R2 000 per month

https://www.absa.co.za/personal/bank/an-account/flexi-account/

 

ABSA Flexi Bundle - R55 per month

Minimum income of R3 000 per month

https://www.absa.co.za/personal/bank/an-account/flexi-value-bundle-account/

 

For Seniors:

 

Absa Prosperity Account - R42 per month

55 years or older

https://www.absa.co.za/personal/bank/an-account/prosperity-cheque-account/

 

Additional ABSA banking fees and ABSA transaction fees:

 

https://www.absa.co.za/content/dam/south-africa/absa/pdf/pricing-brochure/2017-privatebank-pricing.pdf

 

https://www.absa.co.za/content/dam/south-africa/absa/pdf/pricing-brochure/2017-pricing.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/standardbank/Personal/Banking/Current-accounts/Access-Account

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/AccessAccount_Pricing.pdf

 

Standard Bank Elite Banking - R100 per month

Minimum gross monthly income of R 5 000

http://www.standardbank.co.za/standardbank/Personal/Banking/Current-accounts/Elite-Banking

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Elite_Banking_Pricing.pdf

 

Standard Bank Prestige Banking - R190 per month

Minimum gross monthly income of R 25 000 or more

http://www.standardbank.co.za/standardbank/Personal/Banking/Current-accounts/Prestige-Banking

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Prestige_Banking_Pricing.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/standardbank/Personal/Banking/Current-accounts/Private-Banking

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Private_Banking_Pricing.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/standardbank/Personal/Banking/Current-accounts/Private-Banking-Signature

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Private_Banking_Signature_Pricing.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/standardbank/Personal/Banking/Current-accounts/(sum)1

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Sum1_Pricing.pdf

 

Standard Bank Student Achiever Account - R4.99 per month

Between 16 and 23 years of age

http://www.standardbank.co.za/standardbank/Personal/Banking/Current-accounts/Student-Achiever

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Student_Achiever_Pricing.pdf

 

Standard Bank Professional Banking Account - R199 per month

Between 18 and 30 years of age

http://www.standardbank.co.za/standardbank/Personal/Banking/Current-accounts/Professional-Banking

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Professional_Banking_Pricing.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/standardbank/Personal/Banking/Current-accounts/Consolidator-Current-Account

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Consolidator_Pricing.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/standardbank/Personal/Banking/Credit-cards/Card-types/Platinum-credit-card

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Credit_Card_Pricing.pdf

 

Standard Bank Titanium Credit Card - R55 per month

Earn a monthly income of R 25 000 or more

https://www.standardbank.co.za/standardbank/Personal/Banking/Credit-cards/Card-types/Titanium-credit-card

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Credit_Card_Pricing.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/standardbank/Personal/Banking/Credit-cards/Card-types/World-Citizen-Credit-Card

http://www.standardbank.co.za/standimg//South%20Africa/PDF/Pricing%202017/Credit_Card_Pricing.pdf

 

Standard Bank Gold Credit Card - R45 per month

Earn a monthly income of R 5 000 or more

https://www.standardbank.co.za/standardbank/Personal/Banking/Credit-cards/Card-types/Gold-credit-card

http://www.standardbank.co.za/standimg/South%20Africa/PDF/Pricing%202017/Credit_Card_Pricing.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/nedbank/desktop/gt/en/personal/bank/accounts/Pa-as-you-use.html

http://fees.nedbank.co.za/nedbank/applications/nedbank/sections/pricing-guide-2017/templates/pdf/NedbankPAYUCharges2017.pdf

 

Nedbank Savvy Bundle Account - R180 per month

Minimum income of R3 000 per month

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/accounts/savvy-bundle.html

http://fees.nedbank.co.za/nedbank/applications/nedbank/sections/pricing-guide-2017/templates/pdf/NedbankSavvyBundleCharges2017.pdf

 

Nedbank Savvy Plus Account - R100 per month 

Minimum income of R3 000 per month

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/accounts/savvy-plus.html

http://fees.nedbank.co.za/nedbank/applications/nedbank/sections/pricing-guide-2017/templates/pdf/NedbankSavvyPlusAccountCharges2017.pdf

 

Nedbank Professional Banking - R299 per month

http://fees.nedbank.co.za/pricing-guide-2017/professional-banking/professional-banking-bundle-3

http://fees.nedbank.co.za/nedbank/action/media/downloadFile?media_fileid=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/nedbank/desktop/gt/en/personal/bank/professional-banking/young-professionals.html

http://fees.nedbank.co.za/pricing-guide-2017/professional-banking/young-professional-banking-bundle-3

http://fees.nedbank.co.za/nedbank/action/media/downloadFile?media_fileid=9357

 

Nedbank Professional Banking Pay-as-you-use - R105 per month

http://fees.nedbank.co.za/pricing-guide-2017/professional-banking/professional-banking-payasyouuse-2

http://fees.nedbank.co.za/nedbank/action/media/downloadFile?media_fileid=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/south-africa/private-banking

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/nedbank-private-wealth.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/south-africa/private-banking

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/nedbank-private-wealth.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/south-africa/private-banking

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/nedbank-private-wealth.html

 

https://www.nedbankprivatewealth.co.za/nedbank_wealth/action/media/downloadFile?media_fileid=5204

https://www.nedbank.co.za/content/nedbank/desktop/gt/en/personal/bank/professional-banking.html

http://fees.nedbank.co.za/pricing-guide-2017/everyday-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

  • Like 1

Share this post


Link to post
Share on other sites

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).

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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

Share this post


Link to post
Share on other sites

 

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.

 

Sent from my HUAWEI VNS-L31 using Tapatalk

Share this post


Link to post
Share on other sites

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.

Share this post


Link to post
Share on other sites

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!

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Restore formatting

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


×
×
  • Create New...