19 Sep 2025 • 07:50
Bank fees can quietly eat into your budget. If you don’t choose carefully, you end up paying more in monthly charges, withdrawal fees, debit orders, or EFTs than you thought.
In 2025, more banks are competing to be affordable, especially for people with basic or moderate banking needs. I’ve researched the current fee structures and picked a few of the best low-fee accounts in South Africa that deliver strong value.
Use this guide to see which account might save you the most.
Before we compare, keep these in mind:
Monthly administration/maintenance fees
Fees for everyday transactions (EFT, debit orders, Point-of-Sale / POS swipes)
ATM withdrawal costs
Hidden or conditional fees (e.g. for external debit orders, internal vs external EFTs, etc.)
Free services like free app/internet banking, free statements, free internal transfers
Account flexibility (digital access, branches, cash deposit/withdrawal convenience)
Here are some of the best options currently, especially if you want low ongoing cost and decent features:
Bank / Account | Key Features & Pros | Approx Fees / What to Watch Out For |
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TymeBank EveryDay Personal Account |
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Capitec Global One Account |
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Absa Transact / Basic Needs Profile |
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FNB Easy Zero Account |
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Standard Bank MyMo / Access / MyMo-Plus / Pay-As-You-Transact |
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Depending on your banking style, here’s which account tends to win:
Mostly digital, low transactions: TymeBank EveryDay Personal is probably the cheapest and simplest.
Balanced use, need ATM access + good app: Capitec Global One gives excellent value.
Very few transactions, minimal fuss: Absa Transact / Basic-needs account looks best.
Use bank apps and internet banking instead of branches.
Avoid external ATMs when possible. If you must use them, keep withdrawals to larger amounts to minimize per-transaction-fee impact.
Check if your bank allows free internal EFTs / debit orders / scheduled payments, these can add up if there are charges.
Watch for “bundled” vs “unbundled” services: sometimes paying a bit more monthly gets you many freebies (statements, notifications, etc.).
Always check the latest fee schedule, banks change fees, and what’s cheapest now may shift next year.
2025 looks good for people who want affordable banking in South Africa. Digital banks and entry-level accounts are pushing down costs and boosting free or low-cost services.
If I had to pick one overall winner, Capitec Global One offers excellent value for everyday users. But if your profile is very light-use (few transactions), TymeBank EveryDay or Absa’s basic-needs accounts are great choices.
Whichever you choose, keep checking your bank’s fee schedule and compare every couple of years, small savings add up.
Accounts like TymeBank EveryDay Personal, Capitec Global One, and Absa Basic Needs generally offer the lowest ongoing fees, especially for light or digital banking users.
Use digital and mobile banking for transactions, avoid external ATMs, check for free internal EFTs and debit orders, and compare bundled vs unbundled account services.
Not always. Your banking habits matter: heavy ATM users may benefit from Capitec Global One, while very low-use customers might prefer TymeBank or Absa Basic Needs.
Yes. Digital-first banks like TymeBank often have zero monthly fees and lower transaction costs because they rely on online platforms instead of physical branches.
At least once a year or whenever your transaction habits change. Banks can adjust fees, and small savings accumulate over time.
