CAPE TOWN - Due to the new VAT increase to 15% Standard Bank and Capitec have confirmed that they will be hiking banking fees.
The changes will take effect from 1 April 2018.
Other Banks such as Absa, Nedbank, and FNB have yet to publish updated fee booklets. Standard Bank took to its website to announce the updated fee schedule and Capitec published a flyer notifying customers of the changes.
Below are the changes to Standard Bank’s fees for its mid-market Elite Banking account.