How much does Absa charge for withdrawal? It’s a question that many in South Africa have been asking. Absa has millions of customers in the country. That makes it one of the biggest banks that you will be able to find out there. If you are an Absa customer, one of the things that you will do on a regular basis is withdraw money. That could be at an ATM or inside a branch. But how much will you be charged when you withdraw money from your account?
Absa withdrawal fees
The following are the current Absa withdrawal fees;
|Account Type||POS Withdrawal||ATM Withdrawal||Assisted Branch or Telephone|
|Transact Account||No charge||R10 per R1000||R80 plus R2.50 per R100|
|Flexi Account||No charge||R2.50 per R100||R80 plus R2.50 per R100|
|MegaU||No charge||No charge||R80 plus R2.50 per R100|
|Islamic Banking||No charge||No charge||R80 plus R2.50 per R100|
|Credit cards||No charge||R2.50 per R100||–|
Charges depend on a number of factors
That’s the answer to the question, how much does Absa charge for withdrawal. You will notice that there are a number of factors that come into play to determine how much you are going to be charged when you withdraw money from your Absa account. In the first place, the type of account that you have determines what you are going to be charged.
As an example, if you have a Transact account, you get charged R10 per every R1000 that you withdraw from an ATM. However, if you have a Flexi account, you get charged R2.50 per R100, which is cheaper. If you have a MegaU or Islamic Youth Banking account, you don’t get charged anything when you withdraw money from your account.
Another factor that plays a role in determining withdrawal fees is the place where you are doing your cash withdrawal. If you withdraw money in a supermarket at a POS machine, you won’t be charged anything. ATM withdrawals have their own charges. Meanwhile, assisted banking withdrawals attract the most charges.
In this article, we gave you the answer to the question, how much does Absa charge for withdrawal. We noted that Absa charges different amounts of money depending on where you are doing your withdrawal, and depending on the type of account that you have. The amount of money that you are withdrawing also has a bearing on how much you are going to end up paying.