ABSA increases debit order charge by 50%

[Milano]

ABSA clients should compare December 2016 and January 2017 debit order charges.

Appears ABSA shafted customers a 50% increase on debit order charges.

That is with inflation at around 6% or 7%

 

[IziWhatNow]

What do the charges look like on a statement?

 

[Kosmik]

I know there is now a heavier overdraft fee if that is what you are talking about.

 

[Milano]

What do the charges look like on a statement?

Online transactions you will have a monthly debit order like:

"DIRECT DEBIT <COMPANY NAME LONG NUMBER>" and amount

followed immediately by:

"Transaction Charge" and amount

On an electronic statement with ABSA letterhead it will be called:

"Service fee" and the amount

 

[Milano]

I know there is now a heavier overdraft fee if that is what you are talking about.

Unsure about overdraft fees as I do not run an overdraft facility.

 

[Kosmik]

Unsure about overdraft fees as I do not run an overdraft facility.

I run a bundle, haven't been charged any fees for debits or stop orders but is included. Maybe check your fee structure.

 

[cr@zydude]

Someone has to pay to take all the Barclays branding down. Luckily my only dealing with Absa is them running the back end on my Virgin Money card.

Feel free to join us in the Capitec thread, most of you will save money if you switch.