Card Withdrawal Limits – Starting May 30, 2025, major South African banks will implement new rules on ATM card withdrawal limits, following a regulatory directive from the South African Reserve Bank (SARB). These changes are aimed at enhancing customer security and controlling large-scale cash transactions that may be linked to fraud or untraceable activities. This article provides a full breakdown of the new withdrawal caps, how they affect various customer categories, and what action you need to take to avoid inconvenience.
What Is the New Bank Card Withdrawal Limits Changed?
From May 30, 2025, South African banks will introduce daily and weekly withdrawal caps at ATMs and card machines. The rule affects both personal and business banking clients across Standard Bank, FNB, Absa, Capitec, Nedbank, and other institutions. The core focus is to reduce high-volume, unmonitored cash movement and encourage the use of secure digital payment systems.
Key Highlights:
- Lowered daily ATM withdrawal limits for individuals.
- Weekly caps introduced for business accounts.
- Enhanced verification for large cash withdrawals.
- New charges may apply for exceeding limits.
Updated Withdrawal Limits by Bank (Effective May 30)
Starting May 30, 2025, South African banks have reduced ATM and card withdrawal limits. Personal daily limits now range from R1,000 to R3,000, while weekly caps go up to R10,000. Business accounts also face lower daily and weekly limits. These changes aim to curb fraud and push users toward safer digital payment methods.
New ATM Withdrawal Limits by Bank
| Bank | Personal Daily Limit | Personal Weekly Limit | Business Daily Limit | Business Weekly Limit | Old Daily Limit | Notes |
|---|---|---|---|---|---|---|
| Standard Bank | R3,000 | R10,000 | R5,000 | R20,000 | R5,000 | Charges apply if exceeded |
| FNB | R2,500 | R8,000 | R4,000 | R15,000 | R4,000 | Instant alerts introduced |
| Capitec | R3,000 | R9,000 | R5,000 | R18,000 | R5,000 | Free alert settings available |
| Absa | R2,000 | R7,000 | R4,000 | R15,000 | R4,500 | OTP verification required |
| Nedbank | R2,500 | R8,500 | R4,500 | R17,000 | R4,500 | Some fees waived till June |
| TymeBank | R1,500 | R5,000 | R3,000 | R12,000 | R3,000 | Branch withdrawals limited |
| African Bank | R2,000 | R6,000 | R4,000 | R14,000 | R4,000 | Withdrawals capped at ATMs |
| Postbank | R1,000 | R3,000 | R2,000 | R7,000 | R2,500 | New digital ID needed |
Important Card Withdrawal Limits Changed – What You Must Know
Starting May 30, 2025, all major South African banks will enforce new card withdrawal limits following a directive from the South African Reserve Bank (SARB). These rules are intended to prevent fraud and promote digital payments.
Key Reasons Behind the New Rules
- Curb Financial Crimes: To reduce ATM fraud and money laundering.
- Encourage Digital Banking: Push for more secure, traceable electronic transactions.
- Boost Security: Lower cash handling reduces theft and robbery risk.
Why Card Withdrawal Limits Rules Are Changing
The move to limit card withdrawals stems from multiple concerns flagged by the South African Reserve Bank and the Financial Intelligence Centre (FIC):
- Fraud Prevention : Curb unauthorized and suspicious ATM withdrawals.
- Cashless Economy : Encourage safer digital payment methods.
- Transaction Monitoring : Improve oversight for high-volume cash users.
- Security : Reduce robbery and loss incidents linked to physical cash.
Who Will Be Most Affected from Card Withdrawal Limits?
The new rules will affect the following groups the most:
- Senior Citizens who withdraw full pensions in cash.
- Small business owners dealing in cash-heavy operations.
- Low-income earners with limited access to digital payments.
- Rural residents depending on physical banking access.
Advisory for Customers:
- Register for internet or mobile banking to manage funds digitally.
- Visit your nearest bank branch to update withdrawal preferences.
- Apply for digital wallet services to simplify transactions.
Additional Bank Charges You Might Face
From May 30, banks will begin applying penalty charges if you withdraw more than the allowed daily or weekly limits:
- Standard Bank: R25 per extra transaction
- FNB: R20 per extra transaction (first 2 waived till June 30)
- Capitec: R30 per extra transaction
- Nedbank: R28 per extra transaction
All transactions will require OTP or verification for extra security.
New Fees and Charges on ATM Use in South Africa
Banks will also introduce new ATM usage charges for withdrawals above the daily or weekly limit. These fees will be directly debited from your linked account.
Excess Withdrawal Charges from May 30
| Bank | Fee for Exceeding Daily Limit | OTP/Verification Requirement | Waiver Period | Notes |
|---|---|---|---|---|
| Standard Bank | R25 per transaction | Yes | No | Applies from first extra R1 |
| FNB | R20 per transaction | Yes | Until June 30 | First 2 excess free till June |
| Capitec | R30 per transaction | Yes | No | Free alerts available |
| Absa | R22 per transaction | Yes | No | Monthly cap on charges |
| Nedbank | R28 per transaction | Yes | Until July 15 | Email notification enabled |
How to Avoid Penalties and Inconvenience
To protect yourself from unexpected charges or declined transactions, here’s what you can do:
- Monitor your account limits regularly through your banking app.
- Opt for EFTs or card payments where possible.
- Visit a bank branch to request a temporary limit increase if needed.
- Link your card to contactless payment apps like SnapScan or Zapper.
Tips to Avoid Penalties
- Keep track of your daily/weekly withdrawal status via your bank app.
- Opt for mobile wallets or digital payments wherever possible.
- Pre-plan bulk withdrawals to avoid going over the limit.
- Speak to your bank about temporary increases if needed for emergencies.
What You Can Do to Stay Prepared
- Switch to digital banking via apps or internet portals.
- Use card or contactless payments at shops and service providers.
- Set up EFT transfers for larger purchases or payments.
- Update limits at your bank branch if your needs exceed the new caps
Departmental & Banking Contact Details
For further clarification or special limit approval, contact your respective bank or regulatory body:
South African Reserve Bank (SARB)
Phone: +27 12 313 3911
Email: [email protected]
Website: www.resbank.co.za
Standard Bank Customer Care
Phone: 0860 123 000
Website: www.standardbank.co.za
FNB Help Centre
Phone: 087 575 9404
Website: www.fnb.co.za
Capitec Support
Phone: 0860 10 20 43
Website: www.capitecbank.co.za
Nedbank Client Services
Phone: 0800 555 111
Website: www.nedbank.co.za
FAQs – Card Withdrawal Limits Changed
Q1. Will these rules apply to SASSA grant withdrawals?
No. As per SASSA’s latest guidelines, social grants like Old Age, Disability, and Child Support can still be withdrawn at Postbank or retailers like Shoprite without the new limits, but maximum withdrawal caps may still apply per transaction.
Q2. What happens if I need more cash than the new limit?
You’ll need to visit a bank branch for in-person verification or use an EFT/RTGS transfer for higher amounts.
Q3. Can I opt out of these new rules?
No. These are regulatory requirements and apply to all banks operating in South Africa.
Q4. Are businesses treated differently under the rule?
Yes. Businesses may apply for a higher threshold, but this requires official documentation and approval.