Bank Fees Infographic: How Much Does Your Cheque Account Cost?


Image of cheque account bank fees infographic for moneysmart Community



If you have a bank account you’re most likely aware of the bank fees that your bank is charging you for just about any and every transaction you make.

From cash withdrawals and deposits to debit orders and electronic transfers, bank fees (if not monitored and optimised) can quickly add up.

In addition to this, banks frequently make their bank fees overly complicated and difficult for the average individual to understand. 

At moneysmart, we’re dedicated to the goal of simplifying the inherent, yet unwarranted, complexities in the world of personal finance.

That’s why in 2012 moneysmart compared the bank fees associated with entry-level cheque accounts from the 5 big banks in South Africa, namely Absa, Capitec Bank, FNB, Nedbank and Standard Bank.

Even though Capitec Bank’s Global One Account is not technically a cheque account, it does have the functionality of a cheque account and as such was perfect for the purposes of this comparison.

Last year, we looked at the Achiever Electronic account from Standard Bank, which no longer exists. For this year’s comparison we looked at the Elite cheque account (as advised by a Standard Bank representative), which is Standard Bank’s entry-level cheque account. 

Check out our previous cheque account comparison to see how the fees have changed since last year.

Bank Fees Case Study

For the purposes of this bank fee comparison, we compared the fees associated with entry-level cheque account offerings (or the closest equivalent) from each bank.

Our bank fees case study entails an individual earning R10 000 per month and includes the following fees and transactions over the course of one year:

Monthly admin fee, online payments, cash withdrawals, debit orders, debit card purchases and cash deposits.

We also looked at the rewards programmes offered by the banks (if applicable) as these are features that would appeal to the average bank customer.


The bank fees described above were accurate and up-to-date at the time of publishing. The cheque accounts compared are entry-level cheque accounts (except for Capitec Bank which only offers a single transactional account) and most equatable to each other. When doing research for this comparison, we called the banks’ helplines to have a representative clarify the information. This is by no means a definitive guide to choosing a bank account but merely a general overview of what typical current or cheque accounts look like. We recommend you consult with a bank representative to make an informed decision when choosing a cheque account that best suits your individual needs. moneysmart cannot be held responsible for any decision made based on this information.

Please check the relevant banks’ websites for more information on their fees and rates structures.

Should you require more information please do not hesitate to contact us. 


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The moneysmart community is a place for everyone to engage in conversations about not only personal finance matters but lifestyle concerns too.

  • I have not had it with FNB, sneaky small fee’s creeping up all over my bank account statements. Further, being a platinum account customer, why should i be paying R 9.00 per page when needing to present it to a services provider? The bank that claims to be the most innovative in the world seriously have to start making digital bank statements a way to process a credit or service application to other providers. I think i am paying enough charges and fee’s for them to invest in such a viable innovation. Save tree’s in parallel…