ATM charges to be reintroduced by SA banks from 1 October

We all hate extra charges, for anything honestly, but we cannot avoid them. This is the case with some ATM withdrawal charges being reintroduced later this week. 

Business Insider has shared that the reintroduction of ATM Saswitch fees will take place from tomorrow, 1 October. 

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The Saswitch is the system that enable customers to use any ATM regardless of their bank card to withdraw money. 

The charges for this system had been dropped and taken away in the months of August and September due to the COVID-19 lockodown and restrictions. 

This was also a result of the unfortunate events of the KZN unrest that took place in July. 

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Unfortunately, that leeway will end today. The Banking Association of South Africa (BASA) shared: 

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This was followed by a statement stating that the ATM fees would be reinstated on Friday, 1 October, for South African banks to recover the operating costs. 

So, if you had been enjoying using you Standard Bank card across all banks, today is that last day to withdraw from other various banks without the extra bank charges. 

Capitec has even shared on social media that from Friday, 1 October, the cash withdrawal fee for using another bank’s ATM will change back to R9.75 per R1000 at branches, ATMs, and retailers.

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Main Image Courtesy: Supplied