FNB vs ABSA vs Standard bank

[Dave A]

Does anyone of you know what the monthly fee's are for a standard bank business account?

Last time I checked (about Jan or Feb this year), running my business bank accounts at Standard Bank worked out over 50% more expensive than if I had operated the same accounts at FNB. So look carefully before you leap.

[Blurock]

Does capitec have business accounts?

No

[Pap_sak]

No

Depends what you want. If you are happy with an account in your business name with a unique account number that has it's own statement and you can have debit orders and eft's directly from - then yes, thye have the cheapest business account in SA by far.

It's as basic as they come, but will be fine for many.

[roryf]

I guess because of cash deposit fees and the security risk associated with getting it banked.

We use G4S to collect some of our cash and they have a banking service where they charge R0.33/R100 deposited.The amount deposited is then transferred to our account via EFT.I do pay an additional fee for them to collect but they basically pay for themselves and it is soo much easier and safer.

[MartinK]

Hi there

After investigating my bank statement for the last 6 months I've come to realize that Standard bank's been charging me R25 every month for some overdraft facility which I am using. Now according to my knowledge, to be able to use overdraft you must have R0 in your account which has never been the case. Just wanted to know if you experience a similar fate as me ?

Kind regards

[Mike C]

I know that some banks charge for allowing you to have an overdraft facility - whether you use it or not.

[Dave A]

Looking at Standard's fee price list, you're the victim of yet another subtle change to Standard's fee structure by the looks of things. It used to be they only charged the overdraft management fee on personal accounts when you actually used the overdraft facility.

Another new one for me kicked in this year when I was converted to one of their package deals - a posted statement fee of R9 per month. And it isn't to be found anywhere on their price list. While I was on pay-as-you-transact, I certainly wasn't being hit with that one. And this little extra charge over and above certainly wasn't mentioned by the banker during discussions on the package deal they were offering either.

Trivial, but somewhat irritating and disappointing nonetheless.

[MartinK]

Ironic actually because I asked the lady that helped me set up this contract if There is any other fees except the R99. Over and over I she confirmed "No sir, It's only R99 for the elite banking" .., Sigh...Gonna me be and that bank with a couple of boxing gloves this weekend...

[Justloadit]

I know that every year, my business overdraft is renewed, and every time it is renewed I pay a good few grand, as it is a % of the overdraft value. So it seems that Stranded bank is doing it as a monthly charge.

[roryf]

I know that some banks charge for allowing you to have an overdraft facility - whether you use it or not.

Nedbank does this and they call it a commitment fee.They have to have the money available even if you don't use it, so that is basically what they are charging for.