Understanding South African bank fees
Bank fees are small individually and substantial annually, and almost nobody knows their own total. Finding it takes one statement and is usually the fastest saving available.
Add up the fee lines on one month’s statement and multiply by twelve. The result surprises most people, and it is the number that makes the rest of this worth doing.
Bundled accounts are worth it only if you use what is bundled. Paying for unlimited transactions you do not make, or rewards you never claim, is the most common form of overpayment.
Cash withdrawals at other banks’ ATMs and at tills are individually small and add up quickly. Drawing once rather than five times, at your own bank, is a free saving.
Unarranged overdraft is the expensive one. Going into it briefly each month costs more than most people realise and also shows on your statements, where a lender assessing you will read it as strain.
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Page last checked 10 August 2026. Statutory caps and lender terms change — confirm anything you intend to rely on with the provider or the National Credit Regulator. Found something wrong? Tell us and we will correct it.