Absa bank fees: How much does Absa charge for withdrawals in 2024?

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.

Absa bank fees: How much does Absa charge for withdrawals in 2024?
How much does Absa charge for withdrawals in 2024? Photo: Waldo Swiegers
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)ATMBranch and Telephone banking
No chargeNo chargeR80.00 plus R2.50 per R100 or part thereof

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Student Account

For a Student Account, customers must be 18 to 27 years old and be registered full-time students.

Card banking (POS)ATMBranch and Telephone banking
No chargeNo chargeR80.00 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)ATMBranch and Telephone banking
No chargeR10.00 per R1000 or part thereofR80.00 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)ATMBranch and Telephone banking
No chargeR2.50 per R100 or part thereofR80.00 plus R2.50 per R100 or part thereof

How much does Absa charge for cash withdrawals?
Absa has bank accounts for any age group with low fees. Photo: Hsyncoban
Source: Getty Images

Gold

The Gold Account has three levels: Gold Value Bundle, Gold Value Bundle Plus and the Gold Package.

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  • Bundled Transactions
Gold Value BundleGold Value Bundle PlusGold Package
Absa ATMR4.000 free per month, then pay as you useUnlimited Free per monthR4.000 free per month, then pay as you use
  • Out-of-bundle Cash Withdrawals
Gold Value BundleGold Value Bundle PlusGold Package
Absa ATMR2.50 per R100 or part thereofUnlimited freeR2.50 per R100 or part thereof
POSUnlimited freeUnlimited freeUnlimited free
BranchR80.00 + R2.50/R100 or part thereofR80.00 + R2.50/R100 or part thereofR80.00 + 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 BankingPremium Banking PlusPremium Package
Absa ATMR5.000 free per month, then pay as you useUnlimited Free per monthR5.000 free per month, then pay as you use

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  • Out-of-bundle transactions
Premium BankingPremium Banking PlusPremium Package
Absa ATMR2.50 per R100 or part thereofUnlimited freeR2.50 per R100 or part thereof
POSUnlimited freeUnlimited freeUnlimited free
BranchR80.00 + R2.50/R100 or part thereofR80.00 + R2.50/R100 or part thereofR80.00 + R2.50/R100 or part thereof

Absa cheque account fees
With a cheque account, customers could have free card swipes for purchases. Photo: Witthaya Prasongsin
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

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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!

Absa savings account fees
Customers can open a savings account with as little as R50 and add to it anytime. Photo: PM Images
Source: Getty Images

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

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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

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Nompumelelo Ngubeni (Lifestyle writer) Nompumelelo Ngubeni is an editor of Lifestyle content with a Bachelor of Arts (B.A.) Honours Language Practice from North-West University (2016). She has over 8 years of experience in proofreading, research, subtitling, and editing. Strong media and communication professional. Nompumelelo joined Briefly News in 2022. Email: nompumelelongubeni@ymail.com

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