Absa cheque account fees in South Africa; Banking plays a crucial role in our daily lives, and finding the right account with the right fees is essential. If you’re considering opening an Absa Cheque Account, it’s important to understand the associated fees.
In this simple guide, we break down the fees for the Basic Banking – Transact Account, Flexi Account, MegaU Account, Student Account, and Gold Banking Account to help you make an informed decision.
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Basic Banking – Transact Account
The Basic Banking – Transact Account is designed to meet your everyday banking needs at a low cost. Here are the key fees associated with this account:
Monthly Administration Fee
- R4.90
Digital Fraud Warranty
- No Charge
Rewards Monthly Membership Fee
- No Charge
Lump-Sum Life Cover
- R5,000
Now, let’s break down the fees for different types of transactions:
Cash Deposits
- Cash Deposits: R2.50 per R100 or part thereof
- Cardless Cash Deposit: R2.50 per R100 or part thereof
Cash Withdrawals
- Cash Withdrawals: R10.00 per R1,000 or part thereof
- Saswitch ATM / Post Office Terminal: R10.00 plus R2.50 per R100 or part thereof
- Overseas: R80.00
Purchases and Top-Ups
- Prepaid Data, Airtime, and Utilities: R1.50
- Saswitch ATM: R12.00
- POS – Local / Overseas: R2.70
- Lotto Purchase: R2.70
- Digital Voucher: R1.00
Account Payments and Funds Transfers
- Account Payments – Absa: R10.00
- Account Payments – Telephone (IVR): R10.00
- Funds Transfers – R10.00 plus R2.50 per R100 or part thereof
- Funds Transfers – R80.00
- Transaction Type – R1.50
Digital Banking
- Internet, App, USSD, and Telephone (IVR) Banking: R12.00
Card Banking
- No Charge
Point of Sale (POS)
- No Charge
ATM Banking
- No Charge
Assisted Banking
- R1.00
Branch and Telephone Banking (Advisor-Assisted)
- No Charge
Immediate Interbank Payments
- Less than or equal to R1,000: No Charge
- More than R1,000: No Charge
Beneficiary Account Verification
- R80.00
Balance Enquiries
- No Charge
Statement Fees
- Mini Statement: No Charge
- Full Statement: No Charge
- Stamped Statement: No Charge
- Transaction History: No Charge
Copies of Statements (Per Statement)
- Less than 4 Months: No Charge
- 4 Months or Older: No Charge
Tax Certificates (Per Statement)
- Current Year: No Charge
- Previous Years: No Charge
Administration Fees
- Stop Payments: No Charge
- Stop Order Establishment / Amendment Fee: No Charge
Debit Orders Disputed
- Before 40 Days Lapsed: No Charge
- After 40 Days Lapsed: No Charge
Declined Fee (Insufficient Funds)
- Absa: No Charge
- Saswitch ATM / Post Office Terminal / POS (Local) Overseas ATM / POS: No Charge
Notice / Proof of Payment
- SMS: No Charge
- Email: No Charge
- Fax: No Charge
Other Fees
- Debit and Stop Orders – Internal Debit Orders: No Charge
- External Debit Orders: R1.00
- Stop Orders: No Charge
- PayShap Payments – Less than or equal to R200: R2.50
- PayShap Payments – From R200.01 to R1000: R7.50
- PayShap Payments – From R1000.01 to R3000: R7.50
- NotifyMe Fee (SMS or Email): R0.60
- Dishonoured / Returned Payment (Unpaid Item): R10.00
- Debit Card Replacement: R70.00
- Debit Card: Face-to-Face Delivery: No Charge
- Posted Statement: R50.00
Please note that these fees are effective from July 1, 2023, and may be subject to change. Always check the latest terms and conditions with Absa for the most up-to-date information.
Flexi Account
If you’re looking for a low-cost account with additional benefits, the Absa Flexi Account might be the right choice for you. Here are the key fees associated with this account:
Monthly Administration Fee
- R40.00
Digital Fraud Warranty
- No Charge
Rewards Membership Fee
- No Charge
Senior Rebate Banking Minimum Balance
- R5,000
Lump-Sum Life Cover
- R5,000
Now, let’s break down the fees for different types of transactions:
Cash Deposits
- Cash Deposits: R2.50 per R100 or part thereof
- Cardless Cash Deposit: R2.50 per R100 or part thereof
Cash Withdrawals
- Cash Withdrawals: R10.00 per R1,000 or part thereof
- Saswitch ATM / Post Office Terminal: R10.00 plus R2.50 per R100 or part thereof
- Overseas: R80.00
Purchases and Top-Ups
- Prepaid Data, Airtime, and Utilities: R1.50
- Saswitch ATM: R12.00
- POS – Local / Overseas: R2.70
- Lotto Purchase: R2.70
- Digital Voucher: R1.00
Account Payments and Funds Transfers
- Account Payments – Absa: R10.00
- Account Payments – Telephone (IVR): R10.00
- Funds Transfers – R10.00 plus R2.50 per R100 or part thereof
- Funds Transfers – R80.00
- Transaction Type – R1.50
Digital Banking
- Internet, App, USSD, and Telephone (IVR) Banking: R12.00
Card Banking
- No Charge
Point of Sale (POS)
- No Charge
ATM Banking
- No Charge
Assisted Banking
- R1.00
Branch and Telephone Banking (Advisor-Assisted)
- No Charge
Immediate Interbank Payments
- Less than or equal to R1,000: No Charge
- More than R1,000: No Charge
Beneficiary Account Verification
- R80.00
Balance Enquiries
- No Charge
Statement Fees
- Mini Statement: No Charge
- Full Statement: No Charge
- Stamped Statement: No Charge
- Transaction History: No Charge
Copies of Statements (Per Statement)
- Less than 4 Months: No Charge
- 4 Months or Older: No Charge
Tax Certificates (Per Statement)
- Current Year: No Charge
- Previous Years: No Charge
Administration Fees
- Stop Payments: No Charge
- Stop Order Establishment / Amendment Fee: No Charge
Debit Orders Disputed
- Before 40 Days Lapsed: No Charge
- After 40 Days Lapsed: No Charge
Declined Fee (Insufficient Funds)
- Absa: No Charge
- Saswitch ATM / Post Office Terminal / POS (Local) Overseas ATM / POS: No Charge
Notice / Proof of Payment
- SMS: No Charge
- Email: No Charge
- Fax: No Charge
Other Fees
- Debit and Stop Orders – Internal Debit Orders: No Charge
- External Debit Orders: R1.00
- Stop Orders: No Charge
- PayShap Payments – Less than or equal to R200: R2.50
- PayShap Payments – From R200.01 to R1000: R7.50
- PayShap Payments – From R1000.01 to R3000: R7.50
- NotifyMe Fee (SMS or Email): R0.60
- Dishonoured / Returned Payment (Unpaid Item): R10.00
- Debit Card Replacement: R70.00
- Debit Card: Face-to-Face Delivery: No Charge
- Posted Statement: R50.00
Please note that these fees are effective from July 1, 2023, and may be subject to change. Always check the latest terms and conditions with Absa for the most up-to-date information.
MegaU Account
The Absa MegaU Account is designed for young adults between the ages of 18 and 30. It offers various benefits and low fees. Here are the key fees associated with this account:
Monthly Administration Fee
- R39.00
Digital Fraud Warranty
- No Charge
Rewards Monthly Membership Fee
- No Charge
Senior Rebate Banking Minimum Balance
- R5,000
Lump-Sum Life Cover
- R5,000
Now, let’s break down the fees for different types of transactions:
Cash Deposits
- Cash Deposits: R2.50 per R100 or part thereof
- Cardless Cash Deposit: R2.50 per R100 or part thereof
Cash Withdrawals
- Cash Withdrawals: R10.00 per R1,000 or part thereof
- Saswitch ATM / Post Office Terminal: R10.00 plus R2.50 per R100 or part thereof
- Overseas: R80.00
Purchases and Top-Ups
- Prepaid Data, Airtime, and Utilities: R1.50
- Saswitch ATM: R12.00
- POS – Local / Overseas: R2.70
- Lotto Purchase: R2.70
- Digital Voucher: R1.00
Account Payments and Funds Transfers
- Account Payments – Absa: R10.00
- Account Payments – Telephone (IVR): R10.00
- Funds Transfers – R10.00 plus R2.50 per R100 or part thereof
- Funds Transfers – R80.00
- Transaction Type – R1.50
Digital Banking
- Internet, App, USSD, and Telephone (IVR) Banking: R12.00
Card Banking
- No Charge
Point of Sale (POS)
- No Charge
ATM Banking
- No Charge
Assisted Banking
- R1.00
Branch and Telephone Banking (Advisor-Assisted)
- No Charge
Immediate Interbank Payments
- Less than or equal to R1,000: No Charge
- More than R1,000: No Charge
Beneficiary Account Verification
- R80.00
Balance Enquiries
- No Charge
Statement Fees
- Mini Statement: No Charge
- Full Statement: No Charge
- Stamped Statement: No Charge
- Transaction History: No Charge
Copies of Statements (Per Statement)
- Less than 4 Months: No Charge
- 4 Months or Older: No Charge
Tax Certificates (Per Statement)
- Current Year: No Charge
- Previous Years: No Charge
Administration Fees
- Stop Payments: No Charge
- Stop Order Establishment / Amendment Fee: No Charge
Debit Orders Disputed
- Before 40 Days Lapsed: No Charge
- After 40 Days Lapsed: No Charge
Declined Fee (Insufficient Funds)
- Absa: No Charge
- Saswitch ATM / Post Office Terminal / POS (Local) Overseas ATM / POS: No Charge
Notice / Proof of Payment
- SMS: No Charge
- Email: No Charge
- Fax: No Charge
Other Fees
- Debit and Stop Orders – Internal Debit Orders: No Charge
- External Debit Orders: R1.00
- Stop Orders: No Charge
- PayShap Payments – Less than or equal to R200: R2.50
- PayShap Payments – From R200.01 to R1000: R7.50
- PayShap Payments – From R1000.01 to R3000: R7.50
- NotifyMe Fee (SMS or Email): R0.60
- Dishonoured / Returned Payment (Unpaid Item): R10.00
- Debit Card Replacement: R70.00
- Debit Card: Face-to-Face Delivery: No Charge
- Posted Statement: R50.00
Please note that these fees are effective from July 1, 2023, and may be subject to change. Always check the latest terms and conditions with Absa for the most up-to-date information.
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