Absa bank fees: How much does Absa charge for withdrawals in 2024?
Absa announced the updated bank charges, and customers who prefer cash may need to consider joining the digital age. Students and minors, on the other hand, get the better end of the deal as long as they stay away from the branches.
Source: Getty Images
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The Absa withdrawal charges are based on the type of account opened and where the withdrawal occurs (ATM or branch). For the Value Bundle accounts, the withdrawal costs are included in the monthly fees.
Absa bank fees
Absa has various bank accounts catering to their customer's needs. Each has specific fees and benefits relevant to that account.
How much does Absa charge for cash withdrawals?
The withdrawal fees include Point-of-Sale (POS), ATM, and assisted banking (branch and telephone banking) cash withdrawals.
MegaU
The MegaU Account is an entry-level account for customers aged 20 and below.
| Card banking (POS) | ATM | Branch and Telephone banking |
| No charge | No charge | R80.00 plus R2.50 per R100 or part thereof |
Student Account
For a Student Account, customers must be 18 to 27 years old and be registered full-time students.
| Card banking (POS) | ATM | Branch and Telephone banking |
| No charge | No charge | R80.00 plus R2.50 per R100 or part thereof |
Transact
For people who have an irregular income, earn less than R3000, or do not have an income, the Transact Account is the best option.
| Card banking (POS) | ATM | Branch and Telephone banking |
| No charge | R10.00 per R1000 or part thereof | R80.00 plus R2.50 per R100 or part thereof |
Flexi
The Flexi Account is an option for day-to-day banking and gives customers access to full-service banking, like online and mobile banking.
| Card banking (POS) | ATM | Branch and Telephone banking |
| No charge | R2.50 per R100 or part thereof | R80.00 plus R2.50 per R100 or part thereof |
Source: Getty Images
Gold
The Gold Account has three levels: Gold Value Bundle, Gold Value Bundle Plus and the Gold Package.
- Bundled Transactions
| Gold Value Bundle | Gold Value Bundle Plus | Gold Package | |
| Absa ATM | R4.000 free per month, then pay as you use | Unlimited Free per month | R4.000 free per month, then pay as you use |
- Out-of-bundle Cash Withdrawals
| Gold Value Bundle | Gold Value Bundle Plus | Gold Package | |
| Absa ATM | R2.50 per R100 or part thereof | Unlimited free | R2.50 per R100 or part thereof |
| POS | Unlimited free | Unlimited free | Unlimited free |
| Branch | R80.00 + R2.50/R100 or part thereof | R80.00 + R2.50/R100 or part thereof | R80.00 + R2.50/R100 or part thereof |
Premium Banking
Premium Banking customers have access to exclusive services and benefits. There are three levels: Premium Banking, Premium Banking Plus and Premium Package.
- Bundle transactions
| Premium Banking | Premium Banking Plus | Premium Package | |
| Absa ATM | R5.000 free per month, then pay as you use | Unlimited Free per month | R5.000 free per month, then pay as you use |
- Out-of-bundle transactions
| Premium Banking | Premium Banking Plus | Premium Package | |
| Absa ATM | R2.50 per R100 or part thereof | Unlimited free | R2.50 per R100 or part thereof |
| POS | Unlimited free | Unlimited free | Unlimited free |
| Branch | R80.00 + R2.50/R100 or part thereof | R80.00 + R2.50/R100 or part thereof | R80.00 + R2.50/R100 or part thereof |
Source: Getty Images
Absa cheque account fees
The cheque bank accounts have monthly fees covering cash deposits, withdrawals, and card swipes. There are other added benefits depending on the type of account opened.
Transaction Account
- Monthly fee - R4.90
- Minimum bank balance - R20
- Unlimited debit card swipes
Flexi Account
- Monthly fee - R40
- R15.000 lump sum life cover
- Monthly eStatements
- Access to online, mobile, and telephone banking
Gold Value Bundle
- Monthly fee - R115
- Unlimited card swipes
- R20.000 lump sum life cover included
Premium Banking
- Monthly fee - R200
- R25.000 lump sum life cover
- Debit, credit and savings accounts linked to one card
- Overdraft facility
- Unlimited card swipes
- Absa Rewards
Private Banking
- Monthly fee - R460
- Access to private banker
- Airport lounge access
- Overdraft facility
- International banking
Absa savings account fees
Absa has a variety of savings accounts to cater to customers' goals. Below are all their details!
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TruSave
- Opening deposit - R50
- No monthly fee
- Immediate access to funds
- R2000 cash deposit limit per month
- Two free Absa ATM cash withdrawals per year
DepositorPlus
- Opening deposit - R15.000
- No monthly administration fee
- Immediate access to funds
- Two free Absa ATM cash withdrawals per year
Tax-Free Savings
- Opening deposit - R1000
- Contribute up to R36 000 in a tax year
- No monthly fee
- Immediate access to funds online
Dynamic Fixed Deposit
- Opening deposit - R1000
- Choice of either a fixed interest rate or an interest rate linked to prime
- Zero administrative fee
- No access to funds
Notice Select
- Opening deposit - R1000
- Choose from 7, 15, 32 or 45 days' notice
- No monthly fee
- Make additional deposits anytime
Investor Plus
- Minimum investment - R250.000
- No monthly management fee
- 24 Hours' notice is needed to access funds
How much does Absa Bank charge for ATM withdrawals in Kenya?
According to the Absa Kenya rates and fees, withdrawing from an Absa ATM with a debit card will cost Ksh30 and a prepaid card Ksh50. Withdrawals made at another bank's ATM will cost Ksh200.
How much does Absa charge for a transaction to M-PESA?
Transactions from Absa to M-PESA are as follows:
- Ksh1 to Ksh100 - Zero charges
- Ksh101 to Ksh500 - Ksh13.2
- Ksh501 to Ksh1000 - Ksh18
Absa charges less fees when withdrawing from an Absa ATM. Furthermore, their Value Bundle accounts include most transactional costs in the monthly fee and added benefits.
Briefly.co.za shared information on the FNB Easy Account fees. This account is designed for individuals who need a cost-effective account and access to essential features.
There are different types of Easy accounts, including the FNB Zero Monthly Fee and the Pay As You Use accounts.
Source: Briefly News
