Banking fees per month ±

[medicnick83]

Hi guys,

Okay, so I have my own little finance.xls file that I keep where I put in all my spending and such.
Last 2 months, I've decided to keep track of my banking fees costs.

I get paid on the 15th of every month, so I keep records from the 15th to the 14th.

Since the 15th of this month, I've paid R83± on banking fees with FNB.
I have a savings account.

I need to get this down... any advice?

 

[froot]

Do less transactions
Remember that debit orders are also pretty expensive. They run up to about R25 for an external d/o.

 

[medicnick83]

FNB charge me R9.35 per debit order - though they are expensive, and I probably could do them manually - I prefer them because I am worried I might miss 1 or 2.

 

[Chevron]

Hi guys,

Okay, so I have my own little finance.xls file that I keep where I put in all my spending and such.
Last 2 months, I've decided to keep track of my banking fees costs.

I get paid on the 15th of every month, so I keep records from the 15th to the 14th.

Since the 15th of this month, I've paid R83± on banking fees with FNB.
I have a savings account.

I need to get this down... any advice?

R83 seems pretty cheap. I pay R99 for a whole bunch of included transactions.

If you want to get those fees down move to Capitec.

 

[d0b33]

Are you on fee saver? Just need a minimal amount in account and you don't get charged monthly fee, also don't use ATMs.

My fees average between R30 -80 with fee saver and I'm platinum, just need a minimum of 9000 in account

 

[medicnick83]

Are you on fee saver? Just need a minimal amount in account and you don't get charged monthly fee, also don't use ATMs.

My fees average between R30 -80 with fee saver and I'm platinum, just need a minimum of 9000 in account

I rarely use ATM's to be honest, also this month I think was the first time I drew R300 from Pick 'n Pay and I think I paid R1 or something (I speak under correction, but I know it was little)

As for fee saver, I don't think I'm on that.
I really would never want to leave FNB, they are really a great bank with all the necessary in place that makes my life a convenience but with that said, I am always looking for ways to 'save' month.

 

[chrisc]

Capitec charge R 4,50 a month fee, R 1,50 for internet payments and R 0,00 for debit card payments/purchases. Accounts are only for private individuals.

R 1,00 fee for cash withdrawals at PnP or Checkers

 

[d0b33]

I rarely use ATM's to be honest, also this month I think was the first time I drew R300 from Pick 'n Pay and I think I paid R1 or something (I speak under correction, but I know it was little)

As for fee saver, I don't think I'm on that.
I really would never want to leave FNB, they are really a great bank with all the necessary in place that makes my life a convenience but with that said, I am always looking for ways to 'save' month.

Well then switch to fee saver at FNB, closest you'll get to paying no fees.

 

[MKFrost]

Go to Capitec. Mine at FNB was rrunning just under R200 a month for essentially nothing. Now averages around R30 a month and I can still do everything I did with FNB.

Fixed ATM fees, R1 to withdraw at PnP and others etc......

 

[VG008]

You mentioned that FNB is charging +R9 for a debit order, because of this I think you are on the incorrect account.
FNB has many savings accounts, which one are you using?

Have a look at the EasyPlan account: https://www.fnb.co.za/downloads/pricing-guide/FNB_EasyPlan.pdf

>> R4.20 monthly account fee
>> Free card swipes
>> R1.00 for prepaid (Airtime/Electricity) purchases via online channels
>> Free Linked account transfers
>> R3.00 for EFTs to other accounts/banks
>> Free Internal debit orders (FNB to FNB)
>> R3.00 for external debit orders
>> Free Cash withdrawals from Cash@Till locations (PNP/Checkers/Shoprite)

So examples are awesome...lets do one:
3 x Prepaid = R3.00
5 x EFTs (ext.) = R15.00
5 x Debit Order = R15.00

Total monthly costs = R37.20.

If you take out a cheque account, the fee saver option is good. I keep a balance of 9K in my account and don't pay any banking fees (R0.00 compared to the fixed R135.00). However, not everyone can keep 9K in their account.

 

[googoodoll]

I was paying around R100 a month in fees with a student account from Standard bank... Switched to Capitec and my interest earned usually covers my bank charges.

 

[killadoob]

Hi guys,

Okay, so I have my own little finance.xls file that I keep where I put in all my spending and such.
Last 2 months, I've decided to keep track of my banking fees costs.

I get paid on the 15th of every month, so I keep records from the 15th to the 14th.

Since the 15th of this month, I've paid R83± on banking fees with FNB.
I have a savings account.

I need to get this down... any advice?

Capitec, i was being charged 150-400 by standard bank sometimes more if my salary came in late and debt orders bounced, 120 bucks they charge per bounced debit order, i have 5 debit orders so some months it could cost me nearly 600 rand, capitec it would now cost me around 30 rand.

Swipe your card for free, i paid 57 rand this month for bank fees. Down from 150-400+. Brilliant bank.

I have 150-400(sometimes 600) rand more money to spend in a month now

 

[Gtx Gaming]

switch to fnb smart savings account unlimted option , its 49 bucks.

6 atm withdrawals free a month , unlimited debit orders, unlimited free cash at till etc.

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

 

[|tera|]

If only my fees were that low. I've got a Smart Savings account with FNB. Even drawing money at an FNB ATM is R10. Making an EFT is R10. Drawing money from another bank they've moered me up to R75 at times, I kid you not.

You can be happy with your fees. I've learned to swipe, ask for cashback at a till and put in on as a swipe, thereby swiping more (Spar etc. does this). I have to make EFT's during the month, there's no way around it, so I don't know how to circumvent that one. I have no debit orders, so yes.

 

[killadoob]

switch to fnb smart savings account unlimted option , its 49 bucks.

6 atm withdrawals free a month , unlimited debit orders, unlimited free cash at till etc.

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

Unlimited free cash?

Holy shyte sounds like US government . ok gonna signup and go get 100000 free cash . Thanx for the link.

 

[Park@82]

Last time I checked I was charged (including all transactions):
Credit card = R26.5
Cheque = R 121.5
Savings = R11
Total = R159

 

[Ecco]

Are you on fee saver? Just need a minimal amount in account and you don't get charged monthly fee, also don't use ATMs.

My fees average between R30 -80 with fee saver and I'm platinum, just need a minimum of 9000 in account

I have no fees on the Fee Saver option. Not sure how come you still encounter R30 - R80 on that plan.

 

[d0b33]

I have no fees on the Fee Saver option. Not sure how come you still encounter R30 - R80 on that plan.

A transaction fee sometimes is added to some transactions, not sure why though...

edit:
Nevermind, it get's reimbursed if my balance does not fall below threshold, I have not paid any fees since on the plan

 

[patrick]

Are you on fee saver? Just need a minimal amount in account and you don't get charged monthly fee, also don't use ATMs.

My fees average between R30 -80 with fee saver and I'm platinum, just need a minimum of 9000 in account

Same here, keep the minimum in, my fees are 0 (they are marked, but all get re-imbursed)! Plus I get R20-R30 back in ebucks, and some free adsl data. I'm not sure if there's any interest on the account though, but the savings more than make up for it in any case.

Good deal methinks.

Recently moved from standard where I was paying about R200 a month to do exactly the same thing. To think about how much I threw away over the last 9 years makes me weep a little.

 

[Cius]

I have the Nedbank Savvy account. R89 per month and everything else is free. The only other fee is when my cards get replaced and then its R145 for each new card which seems like a rip off to me. Still, its cheaper than the standard bank checking account I had before that.