FNB Fees 2023: A Comprehensive Guide to Banking Charges in South Africa
As a banking customer in South Africa, it’s essential to understand the fees associated with your account to avoid any unnecessary charges. First National Bank (FNB) is one of the largest and most popular banks in the country, offering a wide range of financial services to individuals, businesses, and corporations. In this article, we’ll provide a comprehensive guide to FNB fees in 2023, helping you navigate the various banking charges and make informed decisions about your financial management.
Overview of FNB Fees
FNB fees vary depending on the type of account, transaction, and service. The bank offers different account options, including personal, business, and investment accounts, each with its own set of fees. Some common fees associated with FNB accounts include:
Monthly account fees
Transaction fees (e.g., withdrawals, deposits, and transfers)
ATM fees
International transaction fees
Loan and credit facilities fees
Investment and insurance fees
FNB Personal Account Fees
For personal account holders, FNB offers various account options, including the FNB Easy Account, FNB Gold Account, and FNB Platinum Account. Here are some of the fees associated with these accounts:
FNB Easy Account:
Monthly account fee: R50
Withdrawal fee: R1.90 (per R100 withdrawn)
Deposit fee: R1.90 (per R100 deposited)
FNB Gold Account:
Monthly account fee: R120
Withdrawal fee: R1.40 (per R100 withdrawn)
Deposit fee: R1.40 (per R100 deposited)
FNB Platinum Account:
Monthly account fee: R250
Withdrawal fee: R1.10 (per R100 withdrawn)
Deposit fee: R1.10 (per R100 deposited)
FNB Business Account Fees
For business account holders, FNB offers various account options, including the FNB Business Account, FNB Commercial Account, and FNB Corporate Account. Here are some of the fees associated with these accounts:
FNB Business Account:
Monthly account fee: R200
Withdrawal fee: R2.50 (per R100 withdrawn)
Deposit fee: R2.50 (per R100 deposited)
FNB Commercial Account:
Monthly account fee: R500
Withdrawal fee: R2.00 (per R100 withdrawn)
Deposit fee: R2.00 (per R100 deposited)
FNB Corporate Account:
Monthly account fee: R1,500
Withdrawal fee: R1.50 (per R100 withdrawn)
Deposit fee: R1.50 (per R100 deposited)
ATM Fees
FNB charges ATM fees for withdrawals, deposits, and balance inquiries at FNB and non-FNB ATMs. Here are the fees:
FNB ATM:
Withdrawal fee: R1.90 (per R100 withdrawn)
Deposit fee: R1.90 (per R100 deposited)
Balance inquiry fee: R1.50
Non-FNB ATM:
Withdrawal fee: R2.50 (per R100 withdrawn)
Deposit fee: R2.50 (per R100 deposited)
Balance inquiry fee: R2.00
International Transaction Fees
FNB charges fees for international transactions, including credit card transactions, debit card transactions, and internet banking transactions. Here are the fees:
Credit card transaction fee: 2.5% of the transaction amount
Debit card transaction fee: 2.5% of the transaction amount
Internet banking transaction fee: R50 (per transaction)
Loan and Credit Facilities Fees
FNB offers various loan and credit facilities, including personal loans, home loans, and credit cards. Here are some of the fees associated with these facilities:
Personal loan:
Origination fee: 5% of the loan amount
Interest rate: 14.5% per annum
Home loan:
Origination fee: 1% of the loan amount
Interest rate: 9.5% per annum
Credit card:
Annual fee: R150
Interest rate: 20.5% per annum
Investment and Insurance Fees
FNB offers various investment and insurance products, including unit trusts, retirement annuities, and life insurance policies. Here are some of the fees associated with these products:
Unit trust:
Management fee: 1.5% per annum
Administration fee: 0.5% per annum
Retirement annuity:
Management fee: 1.2% per annum
Administration fee: 0.3% per annum
Life insurance policy:
Premium: R500 per month
Administration fee: R50 per month
Conclusion
In conclusion, FNB fees can be complex and varied, depending on the type of account, transaction, and service. It’s essential to understand these fees to avoid any unnecessary charges and make informed decisions about your financial management. By reviewing the fees outlined in this article, you can better navigate the FNB fee structure and choose the account and services that best suit your needs. Remember to always check the FNB website or visit a branch for the most up-to-date and accurate information on FNB fees.
