Reduced Standard Bank ATM Fees Give Africans More Access and Convenience

After the bank eliminated Saswitch fees that were previously paid for using non-Standard Bank ATMs, Standard Bank customers can now pay a more competitive flat fee of R10 per R1000 for cash withdrawals at more than 20 000 Saswitch ATMs across the country.

Head of Consumer and High Net worth Clients South Africa, Kabelo Makeke said “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 therefore reduced our fees for cash withdrawal at non-Standard Bank ATMs in order to increase the number of affordable cash access points for our customers,” 

Customers will also continue to withdraw cash for a flat fee of R7.50 per R1000 from Regular Bank ATMs.

Makeke also said “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 The size of the saving will of course differ based on the amount being withdrawn but under our new simplified pricing, the customer will know exactly how much they will be paying each time,”

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

“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.” Makeke concludes.

Educator, writer and legal researcher at Alafarika for Studies and Consultancy.

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