South Africans are about to feel a squeeze at the ATM. Starting May 1, 2025, major banks will roll out new ATM withdrawal fees that could hit your wallet harder than before.
With operational costs climbing and ATM vandalism becoming more common, banks say they have no choice but to adjust their charges. Let’s break down everything you need to know so you can stay ahead of these changes.
Reasons
Why are ATM fees on the rise?
Well, keeping ATM networks up and running isn’t cheap anymore. Fewer people are using cash as digital banking takes over, but machines still need expensive maintenance.
Add the costs of repairing vandalized ATMs and battling fraud, and banks are feeling the pinch — and passing some of that on to us.
Updates
Here’s a look at the new withdrawal charges across South Africa’s biggest banks:
| Bank | Own ATM Fee | Other Bank ATM Fee | Min Fee Threshold | Max Withdrawal Limit | Fee Beyond Limit | International ATM Fee | Daily ATM Limit |
|---|---|---|---|---|---|---|---|
| FNB | R8.50 | R13.00 | R100 | R5,000 | R1.50 per R100 | R80.00 | R20,000 |
| Standard Bank | R9.00 | R14.50 | R100 | R6,000 | R1.75 per R100 | R85.00 | R25,000 |
| Absa | R8.75 | R12.75 | R100 | R5,500 | R1.60 per R100 | R78.00 | R20,000 |
| Nedbank | R8.90 | R13.20 | R100 | R6,000 | R1.65 per R100 | R82.00 | R22,000 |
| Capitec | R7.50 | R10.00 | R100 | R4,000 | R1.20 per R100 | R70.00 | R15,000 |
| African Bank | R8.00 | R11.00 | R100 | R4,500 | R1.30 per R100 | R75.00 | R18,000 |
| Investec | R9.50 | R14.00 | R100 | R7,000 | R2.00 per R100 | R90.00 | R30,000 |
Quick Takeaways
- Using another bank’s ATM will cost you more.
- International withdrawals are getting pricier.
- Exceeding your withdrawal limit will attract extra fees.
Tips
Want to dodge as many fees as possible? Here’s how you can outsmart the banks:
- Stick to your own bank’s ATMs.
- Withdraw bigger amounts, less often.
- Use cashback options at grocery stores.
- Lean into mobile and digital banking for payments.
- Always know your daily withdrawal limits to avoid nasty surprises.
A little planning goes a long way when you’re trying to save!
Users
Frequent ATM users are going to feel this change more than anyone. If you usually withdraw small amounts multiple times a week, expect your costs to pile up fast. Here’s a rough idea of how much it could add up:
| Number of Withdrawals | Average Fee | Monthly Total |
|---|---|---|
| 5 (own bank) | R8.50 | R42.50 |
| 10 (own bank) | R8.50 | R85.00 |
| 15 (own bank) | R8.50 | R127.50 |
| 5 (other bank) | R13.00 | R65.00 |
| 10 (other bank) | R13.00 | R130.00 |
| 15 (other bank) | R13.00 | R195.00 |
Small changes to your habits could save you hundreds over the year!
Disputes
Think you’ve been overcharged? Here’s what you should do:
- Contact your bank’s customer care right away.
- Keep your ATM slips as proof.
- Use your bank’s app to log disputes quickly.
Here’s how to get help fast:
| Bank | Phone | Website | |
|---|---|---|---|
| FNB | 087 575 9404 | [email protected] | www.fnb.co.za |
| Standard Bank | 0860 123 000 | [email protected] | www.standardbank.co.za |
| Absa | 0860 008 600 | [email protected] | www.absa.co.za |
| Nedbank | 0860 555 111 | [email protected] | www.nedbank.co.za |
| Capitec | 0860 10 20 43 | [email protected] | www.capitecbank.co.za |
Managing your ATM withdrawals wisely can help you dodge unnecessary fees and keep your monthly banking costs down.
With new fees kicking in soon, now’s the perfect time to rethink your cash habits. Whether it’s withdrawing less often, using digital banking, or just keeping tabs on your limits, small steps can lead to big savings!
FAQs
When do new ATM fees start?
The new fees will take effect from May 1, 2025.
Which bank has the cheapest ATM fee?
Capitec offers the lowest own ATM withdrawal fee at R7.50.
How can I avoid ATM charges?
Use your bank’s ATM and withdraw larger amounts less often.
What if I’m overcharged?
Contact your bank’s customer care with your ATM receipt as proof.
Are international ATM fees changing too?
Yes, banks are increasing international ATM withdrawal fees.
