Money

Standard Bank removes Saswitch fees for cash withdrawals

Reduced ATM fees give Standard Bank customers more access and convenience

Customers can also continue to withdraw cash from Standard Bank ATMs for a flat fee of R7.50 per R1,000.
Customers can also continue to withdraw cash from Standard Bank ATMs for a flat fee of R7.50 per R1,000.
Image: Supplied/Standard Bank

Standard Bank has lowered its ATM fees for cash withdrawal at non-Standard Bank ATMs by removing Saswitch fees, making banking, simpler, more convenient and cheaper for its customers. 

Standard Bank customers will now pay a more affordable flat fee of R10 per R1,000 for cash withdrawals at more than 20,000 Saswitch ATMs in the country after the bank removed Saswitch fees that were previously charged for using non-Standard Bank ATMs.

“We realised during the Covid-19 hard lockdown that what really matters for our customers is improved and convenient access to affordable banking services. We reduced our fees for cash withdrawal at non-Standard Bank ATMs to increase the number of affordable cash access points for our customers,” says Kabelo Makeke, head of consumer and high-net-worth clients SA. 

Customers can also continue to withdraw cash from Standard Bank ATMs for a flat fee of R7.50 per R1,000. 

“Customers need choice. One of the ways we can give them this is by looking at simple and affordable pricing models that enable our customers to bank more conveniently for less. The size of the saving will of course differ based on the amount being withdrawn, but under our new simplified pricing, the customer will know exactly how much they will be paying each time,” says Makeke. 

Standard Bank has also enabled its customers to withdraw and deposit cash at Shoprite and Pick n Pay, increasing the number of cash access points for customers at all Shoprite and Pick n Pay retail stores across the country. 

“We are increasing the number of cash access points for our customers to enable more convenient, affordable and easy banking. Our customers can now conveniently and easily deposit and withdraw cash at Shoprite & Pick n Pay stores across the country while shopping for their daily essentials in store and avoid a trip to a bank branch.”

This article was paid for by Standard Bank.