A complete fee-by-fee breakdown of every major South African bank. Find out where your money goes and how to keep more of it.
South Africans spend between R500 and R3,000+ per year on bank fees. That's money that could be saved or invested. This guide breaks down every fee category so you can make an informed switch.
Average Potential Annual Savings
R1,200 - R2,400
By switching from a traditional to a low-fee or digital bank account
| Bank | Monthly Fee | ATM Own | ATM Other | Card Swipe | Debit Order | Est. Annual |
|---|---|---|---|---|---|---|
| TymeBank | R0 | R4.50 | R9 | R0 | R0 | ~R216 |
| Capitec | R6 | R0 | R8.50 | R0 | R3.50 | ~R310 |
| African Bank | R4.50 | R5 | R10 | R0 | R3.50 | ~R350 |
| Standard Bank MyMo | R6.50 | R4.50 | R11 | R1.50 | R3.90 | ~R520 |
| Nedbank MiGoals | R85 | Included* | R11 | Included* | Included* | ~R1,100 |
| FNB Easy | R109 | R0 | R11.50 | R0 | R4.80 | ~R1,500 |
| Absa Transact | R105 | R4.50 | R11 | R1.50 | R4.50 | ~R1,600 |
| Discovery (Blue) | R99 | R4.50 | R11 | R0 | R4 | ~R1,400 |
*Bundled accounts include a set number of transactions. Fees apply for out-of-bundle transactions. Estimates based on 4 ATM withdrawals, 20 card swipes, 5 debit orders per month.
The undisputed champion for lowest fees. Zero monthly fee, free card swipes, and free debit orders. The only costs are ATM withdrawals (R4.50 own, R9 other bank).
Just R6/month with free ATM withdrawals at Capitec ATMs, free card swipes, and affordable debit orders. The best balance of low cost and full banking features.
Low monthly fee with competitive savings rates. A good option if you want both low-cost transactions and attractive returns on your savings balance.
The estimates above are averages. Your actual fees depend on how you use your account. Enter your real monthly transactions into our calculator for a personalized comparison: