From 1 July 2025, all of South Africa’s major banks will roll out their annual fee updates. In an environment of sticky inflation and rising operating costs, consumers face steeper account charges, higher transaction fees and lower free allowances. Below, we break down the most significant hikes and explore what they mean for tech-savvy South Africans who bank via apps, digital wallets or APIs.
- FNB’s Biggest Increases
FNB’s 2025/26 pricing guide takes effect on 1 July 2025. The headline changes include:
• Aspire account monthly fee rises by R5 to R120 (4.3 percent)
• Premier account monthly fee rises by R10 to R250 (4.2 percent)
• Easy Pay-as-you-Use transaction fee increases by R1 to R7.50 (15.4 percent)
• Free real-time payments allowance reduced from R3 000/month to R2 000/month
• Native ATM withdrawal fee per R100 increases by 3.8 percent (R2.60 → R2.70)
• Other-bank ATM withdrawal flat fee increases by 2 percent (R25.00 → R25.50) - Capitec’s Five-Point Fee Structure
Capitec’s new schedule moves away from bundled monthly plans to five clear price points—R1, R2, R3, R6 and R10 per transaction—effective 1 July 2025. In practice:
• R1 for balance enquiries and wallet top-ups
• R2 for digital payments and debit orders
• R3 for ATM withdrawals at Capitec machines
• R6 for ATM withdrawals at partner banks
• R10 for foreign transactions - Al Baraka’s Across-the-Board Hikes
Al Baraka’s retail fee structure shows uniform increases of 5–10 percent across most product lines. For example:
• Classic Account monthly fee rises from R65 to R72 (10.8 percent)
• Cash-deposit charges increase from R1.50 per R100 to R1.65 per R100 - What About Nedbank and ABSA?
Although official guides for Nedbank and ABSA haven’t been widely publicised, analysts expect:
• Base account fees up by at least R8–R12/month (5–7 percent)
• Other-bank ATM withdrawal fees rising by 10–15 percent
• Debit-order and digital-payment fees tracking inflation of 4–5 percent
These fee hikes underscore a broader trend: South African banks continue to incentivise digital-first behaviours. Key takeaways for tech-savvy users:
• App-only discounts often waive real-time payment fees entirely
• Linking accounts to SnapScan, Zapper or Ukheshe can bypass partner-ATM charges
• Open Banking pay-by-link avoids card-scheme fees and ATM levies
Strategies to Minimise Your Banking Bill
• Switch to an app-exclusive bundle if you rarely visit branches
• Plan ATM withdrawals in batches at your own bank’s machines
• Use prepaid wallets for micro-payments
• Compare bundled flat fees versus pay-as-you-go based on your transaction volume
