Mzansi

Mzansi Fees and Interest

 
Fees with effect of 1st April 2017:

Account opening fee

Free

Minimum opening deposit
(The account will be closed automatically if no deposit was made within 35 days from account opening.)

R 0.00

Minimum account balance

R 20.00

Cash deposit branch

R 2.00 up to R100.00, thereafter an additional R 2.00 per R100.00 or part thereof above R100.01

Deposits (cheque)

Free

Dishonoured Cheque

R 77.00

Special clearance of cheque deposits

R 90.00

Cash withdrawal at branch

R 12.00

Withdrawals (cheque)

R 40.00

Monthly service/ledger fee

R  2.50

Repayment of Unclaimed Funds

R 50.00

Replacement Card

R 70.00

Full Statement (counter)

R 13.00

Full Statement (mailed on request)

R 13.00

Mini statement and balance enquiries (Branch)

Free

Account Dormancy fee

R 22.00

Point of Sale Purchase

Free

Purchase and Cash back

Free

Cash back only

R 3.50

Declined Purchase - Any customer related reason

R 7.50

International Debit Card Fee (POS) in the *RCMA only

R16.00 + 2% of transaction value

International Debit Card Fee (ATM) in the *RCMA only

R 18.00 + 2% of transaction value

International Debit Card Declined Fee

R 7.50

Saswitch Fees:
 

Cash withdrawals: ATM

R 8.15 below R100.00 thereafter an additional R1.65 per R100 and above

Balance enquiry: ATM

R 4.30

Rejected transactions: ATM

R 4.50

Rejected transactions: card swallowed ATM

R 2.00

Cell phone Balance enquiry

No banking fee. R 1.00 will be charged by your mobile service provider for the cost of the sms.

Interest with effect from 21 July 2017:

Amount in Rand

Interest Rate (%)

0 - 500

0.15%

500.01 - 1000

0.30%

1 000.01 - 2 000

0.35%

2000.01 - plus

0.40%

Note:

Mzansi Saswitch fees are only applicable if the ATM’s of the major banks are used: that is ABSA, FNB, Nedbank and Standard bank.

Account Balance may not exceed R25 000.00 at any time.

Payments and withdrawals from the account are limited to a maximum of R5 000.00 per day and R25 000.00 per month.

Mzansi Cards can be used in South Africa and the Rand Common Monetary Areas only such as Lesotho, Swaziland, Namibia and Botswana.

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