Updated Fees for Standard Bank in 2025: A Comprehensive Guide
As we navigate the ever-changing landscape of banking and finance in 2025, it’s essential to stay informed about the latest updates on bank fees. Standard Bank, one of the leading financial institutions in South Africa, has introduced new fees for its services. In this article, we’ll delve into the updated fees for Standard Bank in 2025, helping you make informed decisions about your banking needs.
Account Fees
Standard Bank has revised its account fees for 2025, with some changes aimed at promoting digital banking and others focused on maintaining the quality of services. Here are the updated account fees:
- Monthly account fee: R100 (previously R90) for the Elite account, R60 (previously R50) for the Prestige account, and R30 (previously R20) for the Access account.
- Account maintenance fee: R50 (previously R40) per month for accounts with a balance below R1,000.
- Debit order fees: R10 (previously R5) per debit order for accounts with a balance below R1,000.
Transaction Fees
Transaction fees for Standard Bank have also undergone changes in 2025. Here’s a breakdown of the updated fees:
- ATM withdrawal fees: R10 (previously R5) per withdrawal for domestic transactions, and R50 (previously R20) per withdrawal for international transactions.
- Point-of-Sale (POS) transaction fees: 1% (previously 0.5%) of the transaction value, capped at R10.
- Electronic Funds Transfer (EFT) fees: R10 (previously R5) per transaction for online and mobile banking, and R20 (previously R10) per transaction for branch and ATM transactions.
Credit Card Fees
Standard Bank’s credit card fees have been revised for 2025, with the following changes:
- Monthly credit card fee: R50 (previously R30) for the Gold credit card, and R100 (previously R50) for the Platinum credit card.
- Credit card interest rate: 20.5% (previously 18.5%) per annum for the Gold credit card, and 22.5% (previously 20.5%) per annum for the Platinum credit card.
- Credit card late payment fee: R200 (previously R100) per late payment.
Other Fees
Other fees that have been updated for Standard Bank in 2025 include:
- Loan initiation fee: 1% (previously 0.5%) of the loan amount, capped at R1,000.
- Loan monthly administration fee: R50 (previously R20) per month.
- Stop payment fee: R200 (previously R100) per stop payment request.
Digital Banking Fees
Standard Bank is encouraging customers to adopt digital banking by introducing new fees for manual transactions:
- Branch transaction fee: R50 (previously R20) per transaction for accounts with a balance above R1,000.
- ATM balance enquiry fee: R5 (previously R2) per enquiry.
How to Minimize Fees
To minimize fees when banking with Standard Bank in 2025, consider the following tips:
- Use digital banking channels for transactions and account management.
- Maintain a minimum balance of R1,000 in your account to avoid account maintenance fees.
- Use your credit card responsibly and make timely payments to avoid late payment fees.
- Avoid using ATMs for balance enquiries and withdrawals, opting for digital banking instead.
In conclusion, the updated fees for Standard Bank in 2025 reflect the bank’s efforts to promote digital banking and maintain the quality of services. By understanding these changes and adjusting your banking habits accordingly, you can minimize fees and make the most of your banking experience.
