Capitec moves to keep banking fees the same: Here’s what other banks are charging

Capitec Bank, the biggest bank in South Africa by customer numbers, has announced it will not increase its banking fees in 2026.

The bank serving more than 25 million people will use the pricing strategy that was established in 2025.

The Stellenbosch-headquartered bank is widely considered one of the country’s most affordable, transparent, and competitive banks for transactional banking, with a monthly fee of R7.50 on the bank’s main account. How do other banks in the country charge their fees?

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Capitec Bank fees

Capitec Bank announced on Thursday that it will continue to use its pricing strategy from 2025 for 2026. These are the bank’s fees until next year:

• R1 Capitec to Capitec payment
• R2 Payment to other SA banks
• R3 Debit order
• R6 Immediate payment to all SA banks
• R10 Cash withdrawals (per R1 000) at any bank’s ATM in SA

Unlike other banks in the country, Capitec only has a limited number of accounts: Global One account (main/debit), credit card, Entrepreneur Card account, and business account.

Capitec Bank charges on other accounts

The bank said it will charge R50 monthly for the credit card, R70 to issue a new Entrepreneur Card, and R2 (from R3) for balance enquiry on International Mastercard Machine.

Coming soon to the bank, it will be issuing the Smart identification documents (IDs), which will cost R10.

“Remote banking app limits for sending cash: R3 000 per transaction, R5 000 per day, R24 990 per month,” said the bank. “Mobile banking limits for sending cash: R1 000 per transaction, R1 000 per day, R24 990 per month.”

FNB Charges

First National Bank (FNB), a subsidiary of FirstRand, has a number of different banking accounts, ranging from accounts for children under the age of 18, to ones for the country’s high-earning group.

According to their website, the cheapest account they have is the Easy Zero, which has no monthly charge. However, users of this account get charged for other transactions. For example, cash withdrawals from FNB ATMs is R12, and from non-FNB ATMs is R12 plus R2.70.

The country’s elites qualify for the FNB Private Wealth accounts, which might be the most expensive when it comes to fees, with a reissuing of a metal fusion card costing R1 200. When it comes to the Private Wealth credit card, clients can have more than five cards for free, but from the 6th card going upwards they have to pay R21.50 per card, per month.

Pricing took effect from 1 July 2025 to 30 June 2026.

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Absa fees

Absa is also one of the banks that has different accounts catered for different needs and clients. Apart from their account for children under the age of 18, MegaU, the bank has the Flexi Account, with a monthly service fee of R65. This is considered their cheapest.

The bank also has Current Accounts, which have different categories. It seems a Current Account would set you back R70 per month for their monthly service charge. From there, it also charges based on the transactions one performs.

Apart from these accounts, Absa offers products such as business accounts, credit cards, private and wealth banking accounts. All these differ when it comes to charges.

Standard Bank fees

Standard Bank, the country’s biggest lender by assets, said it will no longer charge monthly fees on its MyMo account from 1 January 2026. This happens to be the bank’s cheapest account.

It seems most transactions are free with this type of account. From unlimited card swipes to withdrawals at stores. ATM deposits will cost R1.80 per R100, and ATM withdrawals at Standard Bank will cost R100 for R1 000 to R2 000.

The bank’s Private Banking account will set one back R490 per month for the monthly service fee. Withdrawals from Standard Bank ATMs are free up to R8 000 per month then R2.80 per R100.

Nedbank Fees

Nedbank announced that from 1 January to 31 December 2026, children under the age of 18 who make use of the MiGoals4Kids will pay no monthly fee, while those who make use of the MiGoals account will pay a monthly fee of R8.

When it comes to MiGoals Premium, there is a R250 monthly fee. However, if one is between 18 and 26 years, or 55 and older, they will pay a monthly maintenance fee of only R125.

“If you maintain a minimum daily balance of R20 000 in your account, we’ll refund your full maintenance fee the following month,” said Nedbank.

Apart from the monthly fees, transactions such as withdrawals, deposits, payshap, are charged individually.

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