unfair figures

The global comparison of bank charges by Capgemini, which found South Africans pay twice the world average in current account fees, has been refuted by Standard Bank. The bank criticised Capgemini for not considering that people in wealthier countries have more money in their accounts. As a result banks earn more interest, which subsidises their transaction fees.

The global comparison of bank charges by Capgemini, which found South Africans pay twice the world average in current account fees, has been refuted by Standard Bank. The bank criticised Capgemini for not considering that people in wealthier countries have more money in their accounts. As a result banks earn more interest, which subsidises their transaction fees.

"The vast majority of Standard Bank current account customers use our fixed monthly fee options," Standard Bank said. - Staff Reporter

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