Bank Accounts with Lowest Withdrawal Fees for SASSA Payments
You may often see many SASSA beneficiaries around you annoyed by bank withdrawal fees when they take their SASSA payouts.
It’s obvious, that everyone wants to save, what if you save some pennies that might be used for other purposes later.
I’ve mentioned some banks in South Africa you can use to withdraw your monthly SASSA payments without getting much affected by their withdrawal fees.
I am not promising that there will be zero withdrawal fees for all the banks I am going to discuss, but yes these withdrawal fees are going to look minor or very minimal to you.
List of Banks With Lowest Withdrawal Fees
Here is the list of banks, you’re advised to read them thoroughly and choose your bank wisely for withdrawals.
1. Standard Bank
| Fee | Withdrawal Amount | Detail |
| R8 | R1000 | In case you make a transaction from your account using Capitec, you will be paying a total 2.20 Rands amount over 100 Rands, it will be applicable only when the transaction is below 1000 Rands. |
| R2.20 | R100 | This will be only applicable when you’ve subscribed to the Standard Bank services but you make withdraw using any other bank’s ATM. |
| R10 | R1000 | This will be only applicable when you’ve subscribed to the Standard bakn services but you make withdraw using any other bank’s ATM. |
2. ABSA
| Fee | Withdrawal Amount | Detail |
| – | – | There isn’t any withdrawal fee up to the amount of R1000. |
| R10 | R1000 | If you withdraw an amount of R1000 or more from here, you’ll be paying a total R10 withdrawal charges. |
3. NedBank
| Fee | Withdrawal Amount | Detail |
| R2 | Per purchase at retail | Suppose if you use NEd’s service but withdraw your money using any other bank’s ATM, you will be charged R10 per withdrawal. |
| R10 | Per Withdrawl from another bank. | Suppose if you use NEd’s service but withdraw your money using any other bank’s ATM, the you will be charged R10 per withdrawal. |
4. Bank Zero
| Fee | Withdrawal Amount | Detail |
| R2 | Per cash spend. | If you spend your amount at shopping points like Shoprite, Spar, or Pick n Pay, you will be charged an R2 transaction amount. |
5. Tymebank
| Fee | Withdrawal Amount | Detail |
| R3 | Per withdrawal | If you use your card to withdraw hard cash at Boxer, Pick n Pay, and other points like these, you’ll be going to pay R3 per cash out. |
| R10 | R1000 | A single withdrawal of R1000 will cost you R10. |
6. Capitec Globa
| Fee | Withdrawal Amount | Detail |
| Free | – | Cash-out at Boxer, Pick n Pay, Shoprite, or Checkers will cost you only R1.75. |
| R 1.75 | Per Cash out. | Cash out at Boxer, Pick n Pay, Shoprite, or Checkers will cost you only R1.75. |
| R9.50 | R1000 | You’ll be charges a total amount of R9.50 on a single R1000 transaction. |
| R1.50 | R1000 | A single cashout at other ATMs than Capitec. An additional R1 will be deducted as a fee. |
We’re not affiliated with any bank from these, you can make your own choice accordingly.
All the withdrawal fees are variable, you can expect fluctuation in such fees according to economic changes in the country.
We’ll be updating more such banks with minor fees as we come to know a new bank affiliated with SASSA, keep visiting. For more information related to SASSA, check sassacheck.net.za.
As a SASSA beneficiary, you’re also allowed to switch your bank account or change your banking details.
Final Thoughts
Choose your bank wisely, you can also take feedback from a specific bank in your network who has used any of such banks for spending their SASSA grant money.
