SA New ATM Charges – South Africans will soon feel a pinch in their pockets when withdrawing cash as major banks have announced new ATM withdrawal fees effective May 1, 2025. With operational costs rising, banks are adjusting their fee structures, meaning customers will need to pay closer attention to their transaction habits to avoid unnecessary charges.
This guide will explain everything you need to know about the new ATM fees: who’s affected, how much extra you’ll pay, and how to manage these changes smartly.
Why Are ATM Charges Increasing in South Africa?
The rising costs of maintaining ATM networks, coupled with increasing incidents of vandalism and fraud, have forced banks to revise their fees. As digital banking gains momentum, the use of physical cash withdrawals has dropped, making ATM maintenance more expensive on a per-user basis.
Major banks like FNB, Standard Bank, Absa, and Nedbank have announced their updated fees, ensuring transparency to their customers before the changes come into effect.
Breakdown of New ATM Withdrawal Fees
Each bank has adjusted its fees slightly differently. Below are the latest withdrawal fees from South Africa’s largest banks.
Table: New ATM Withdrawal Charges Effective May 1, 2025
| Bank | Own ATM Withdrawal Fee | Other Bank ATM Withdrawal Fee | Minimum Fee Threshold | Maximum 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 |
Key takeaways:
- Higher costs for using other banks’ ATMs
- Increased international ATM withdrawal charges
- Penalty fees for exceeding withdrawal limits
Tips to Minimize ATM Fees
While new charges are unavoidable, you can still save money by being strategic.
- Use your own bank’s ATM whenever possible.
- Withdraw larger amounts less frequently to avoid multiple charges.
- Opt for cashback options at retail stores.
- Embrace digital banking by using apps for payments.
- Monitor daily withdrawal limits to avoid extra penalties.
Impact on Frequent ATM Users
If you often withdraw small amounts, you’ll end up paying more in cumulative fees. Frequent users should reassess their cash needs and consider alternative ways of accessing funds without incurring constant ATM charges.
Estimated Monthly ATM Fees for Frequent Users
| Number of Withdrawals | Average Fee per Withdrawal | Total Monthly Cost |
|---|---|---|
| 5 | R8.50 | R42.50 |
| 10 | R8.50 | R85.00 |
| 15 | R8.50 | R127.50 |
| 5 (other bank ATM) | R13.00 | R65.00 |
| 10 (other bank ATM) | R13.00 | R130.00 |
| 15 (other bank ATM) | R13.00 | R195.00 |
What You Can Do If You Face Overcharges
If you notice discrepancies in your bank statements after the new fees take effect:
- Contact your bank’s customer service immediately.
- Keep ATM receipts for proof of transaction details.
- Log disputes online via banking apps where possible.
Departmental Contacts for Assistance
If you need help understanding the new fee structure or to raise concerns:
FNB Contact Center:
- Phone: 087 575 9404
- Email: [email protected]
- Website: www.fnb.co.za
Standard Bank Customer Support:
- Phone: 0860 123 000
- Email: [email protected]
- Website: www.standardbank.co.za
Absa Client Support:
- Phone: 0860 008 600
- Email: [email protected]
- Website: www.absa.co.za
Nedbank Client Care:
- Phone: 0860 555 111
- Email: [email protected]
- Website: www.nedbank.co.za
Capitec Support:
- Phone: 0860 10 20 43
- Email: [email protected]
- Website: www.capitecbank.co.za
Frequently Asked Questions (FAQs)
Q1: Will the new ATM fees apply to all accounts?
Yes, unless otherwise specified for premium or bundled accounts.
Q2: Are there any free withdrawals still available?
Some banks offer a limited number of free own-bank ATM withdrawals depending on your account type.
Q3: Can I avoid ATM charges altogether?
You can reduce ATM usage by using mobile banking apps, card payments, and cashback options.
Q4: Will international ATM withdrawals cost even more?
Yes, international fees have increased significantly, and users are advised to limit overseas ATM use.
Q5: What happens if an ATM charges me incorrectly?
You should immediately report the error to your bank with the transaction reference number.
The new ATM withdrawal fees coming into effect on May 1, 2025 are part of an unavoidable adjustment in South Africa’s banking landscape. While they may seem steep, being informed and strategic about your cash usage can help you avoid unnecessary costs. Always check with your specific bank for detailed account-specific fee structures.
What are the new ATM charges in South Africa effective May 1?
The charges will result in increased fees per withdrawal.
How much will ATM withdrawal fees increase in South Africa starting May 1?
Fees will increase from the previous amount per withdrawal.
How do the new ATM charges in South Africa compare to previous fees?
The new charges will result in increased costs per withdrawal.
How do the new ATM charges in South Africa affect banking affordability?
Increased fees may impact accessibility and affordability for bank customers.
How do the new ATM charges in South Africa impact consumer spending habits?
Consumers may reduce cash withdrawals to minimize additional fees.
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