Bank Fees – South Africans are in for another financial jolt as three of the country’s major banks—Capitec, Nedbank, and FNB—have announced a significant change in their monthly account maintenance fees. Starting from 1 July, customers across these banks will be required to pay an additional R45 per month, regardless of transaction activity or account balance. This new flat-rate charge, positioned as a “standard service maintenance fee,” has ignited frustration among consumers, particularly those already battling steep living costs, petrol price hikes, and utility surges. The move comes amid widespread discontent over the rising cost of basic banking services. While banks claim the charge is necessary to sustain digital infrastructure, improve fraud protection, and offer “enhanced customer experience,” millions of low- to middle-income account holders see it as a burden. With banking access being a necessity rather than a luxury, the additional R45 per month—or R540 annually—will be deeply felt by pensioners, grant beneficiaries, and minimum wage workers. The fee hikes are being implemented just weeks after electricity tariff announcements and water rate increases in provinces like KZN and Gauteng, further compounding financial pressure. Consumer rights groups are now demanding transparency, questioning how these fees are calculated and why they are being applied uniformly despite variations in account usage. Let’s break down the full details of the R45 monthly fee rollout, including impacted account types, new cost tables, possible ways to avoid charges, and the growing backlash from users and analysts.
Bank Fees – Banks That Will Charge R45 From 1 July
The new service fee affects a broad spectrum of personal and salary account holders in South Africa. The following banks have confirmed implementation.
- Capitec: Applies to Global One Accounts
- Nedbank: Applies to Pay-As-You-Use & Savvy Bundle Accounts
- FNB: Applies to Easy, Aspire & Premier Accounts
- Absa: Not yet implementing—monitoring developments
- Standard Bank: No changes announced yet
- TimeBank: No fixed monthly fee currently
- African Bank: Fixed fee under review
- Discovery Bank: No confirmation of change
Bank Fees: Monthly Fee Structure by Bank
Here’s a comparison of the new R45 monthly charge and how it stacks up across the big names:
| Bank Name | Account Type | New Monthly Fee | Old Monthly Fee | Annual Increase | Effective Date | Notes |
|---|---|---|---|---|---|---|
| Capitec | Global One | R45 | R0 | +R540 | 1 July 2025 | Affects all active clients |
| Nedbank | Pay-As-You-Use, Savvy Bundle | R45 | R5–R25 | +R240–R480 | 1 July 2025 | Applies to both bundled and flexible |
| FNB | Easy, Aspire, Premier | R45 | R0–R30 | +R180–R540 | 1 July 2025 | Debit orders excluded from waiver |
| Absa | All Retail Accounts | No Fee | No Fee | None | Not applicable | Under review |
| Standard Bank | MyMo, Elite, Prestige | No Fee | No Fee | None | Not applicable | Watching competitor moves |
| TimeBank | Personal Account | No Fee | No Fee | None | Not applicable | Maintains zero-fee model |
| African Bank | MyWORLD | Under Review | R10 | TBD | TBD | To be confirmed |
| Discovery Bank | All Accounts | No Update | No Update | None | TBD | No announcement yet |
Bank Fees – Why Are Banks Adding These Fees?
Banks cite operational sustainability and service quality as primary reasons for the sudden charge. However, consumer advocates believe it’s more about profit recovery.
Reasons Provided by Banks
- Increased digital infrastructure costs
- Rising incidents of cyber fraud and need for stronger protection
- Demand for 24/7 real-time banking support
- Expansion of app and mobile-based features
- Inflation-adjusted service costs
Consumer Concerns
- Lack of usage-based fee differentiation
- Pensioners and low-income earners equally affected
- Hidden clauses in older account contracts
- Charges being auto-deducted without individual consent
Alternative Accounts to Avoid the R45 Bank Fees
If you’re looking to dodge the new monthly fee, switching accounts or banks may be an option.
Bank Accounts Without Monthly Charges (as of June 2025)
| Bank Name | Account Type | Monthly Fee | Key Benefits |
|---|---|---|---|
| TimeBank | Personal Account | R0 | No fee, digital-first banking |
| Standard Bank | MyMo Plus | R0 | Free cash withdrawals up to R5,000 |
| African Bank | MyWORLD (Basic) | R10 | Flexible linked accounts |
| Absa | Transact Account | R0 | Low-income targeted, minimal charges |
| FNB | Easy Zero | R0 | Only for youth and students |
HIDDEN COSTS: What Else Are You Paying For?
Even with or without the R45 monthly charge, South African bank customers are still subject to several other banking costs that often go unnoticed.
Here Are 7 Additional Fees You May Be Paying:
- R6 – R8 per ATM cash withdrawal
- R2 – R4 per SMS notification
- R20 – R45 for card replacement
- R15 – R30 for over-the-counter deposits
- R5 – R15 for inter-bank EFTs
- R50+ for failed debit order penalties
- R25 – R40 for statement printing at branch
Can You Get Exempted? Special Waivers & Discounts
Not all users will necessarily pay the R45. Some banks are offering partial relief for eligible customers.
Waiver Eligibility Criteria
- Students under age 24
- Senior citizens above 65
- SASSA grant recipients
- Clients with combined balances above R10,000
- Clients who maintain 5+ debit orders monthly
- Salaried clients who deposit R8,000+ per month
Government and Public Reaction to the R45 Fee Surge
Following the announcement, advocacy groups and several public figures have spoken out. The National Consumer Commission (NCC) has issued a statement asking for justification behind the uniform charges.
Government & Watchdog Statements
- National Treasury: Urging banks to reconsider blanket hikes
- NCC: Demanding clarity on fee structure logic
- Black Sash: Calling it an attack on low-income earners
- DA MP Bridget Masango: Says it “defeats financial inclusion efforts”
- Financial Sector Conduct Authority (FSCA): Monitoring the rollout for consumer rights violations
Social Media Outrage and Trending Hashtags
The R45 fee announcement has set Twitter, Facebook, and TikTok ablaze with angry customers posting screenshots, tagging banks, and creating pressure campaigns.
Trending Hashtags in South Africa
- #BankFeeHike
- #SayNoToR45
- #CapitecCharges
- #FNBFeeBacklash
- #NedbankFeeShock
- #BankingForTheRich
What Should You Do Now?
With July approaching fast, you need to act now to protect your savings. Here are some practical steps you can take:
- Review your current account terms and monthly fee structure
- Contact your bank for clarification on waiver eligibility
- Switch to a zero-fee or low-cost account before 30 June
- Set transaction alerts to monitor deductions
- Join online consumer rights groups for collective actions
As millions of South Africans juggle rising costs in nearly every aspect of life—from groceries to petrol and now even banking—the R45 monthly charge has sparked both outrage and action. Whether this is the beginning of more financial pressure or the final straw that forces widespread migration to digital banks remains to be seen. For now, consumers are advised to stay alert, read every message from their banks, and take proactive steps before July lands another blow to their budgets.
FAQ: South Africans Ask – We Answer
1. Who will be charged the new R45 monthly fee?
Capitec, FNB, and Nedbank customers with personal or salary accounts from 1 July 2025.
2. Is this fee compulsory for all customers?
Yes, unless you qualify for a waiver based on age, income, or account type.
3. Can I avoid the R45 fee?
Yes, by switching to a zero-fee account like TimeBank or qualifying for bank-specific exemptions.
4. Will this affect my SASSA or grant payments?
Yes, the fee may be deducted from grant payouts if your account is with one of the affected banks.
5. Is this fee approved by government?
No, this is a private bank decision. Regulators are reviewing the impact but have not blocked it.