What is the cheapest bank account with zero/minimal ATM fees

missionimpossible

Well-Known Member
Joined
Jan 4, 2007
Messages
386
I've been with Nedbank for a while now, I'm considering opening a second bank account (with another bank) specifically for zero/reduced ATM fees and a reduced monthly charge.

When you analyze the cost of drawing money from an ATM, the benchmark is 1% of the cost of the withdrawal, which is quite high when you compare us to the UK whereby they pay zero fees for ATM withdrawals.

Can anyone suggest which bank charges zero/minimal ATM fees?
 

SYNERGY

Executive Member
Joined
Jul 13, 2007
Messages
5,961
Depending on your monthly expenditure - Capitec or FNB.

FNB more or less pays me to bank with them. See the eBucks thread.
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
7,392
I would say FNB. You can withdraw cash from Checkers or Pick and Pay, and it doesn't cost you 1c in fees.
 

Thor

Honorary Master
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Jun 5, 2014
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43,400
I would say FNB. You can withdraw cash from Checkers or Pick and Pay, and it doesn't cost you 1c in fees.

So does Capitec and with basically no monthly costs you can't compete.

FNB, Absa, standard bank, netbank etc costs money. Capitec doesn't.
 

DA-LION-619

Honorary Master
Joined
Aug 22, 2009
Messages
13,777
Capitec encourages you to lead a cash free lifestyle but doesn't punish you for withdrawing cash.
Off the top of my head the fees are,

R1.50 from a till
R4.30 from a Capitec ATM
R7 from any other ATM
 

Ockie

Resident Lead Bender
Joined
Feb 16, 2008
Messages
52,679
Capitec + Virgin Money credit card works for me.
 
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