Standard Bank takes on Capitec Bank with low-fee account, gigabytes of free data

Picture: Supplied

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(Also, read: Absa is the most complained about bank in South Africa)

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Standard Bank is launching a new, R4.95 per month bank account it calls “MyMo”.

Account holders will get 1GB of free data when applying for the account on Standard Bank’s app.

Swipe your card four times in a month, and you’ll get R50 free airtime and 0.5GB of free data.

Withdrawal fees

  • Withdrawals at supermarkets: R1.40

  • Withdrawals at Standard Bank ATMs: R6.50

  • Withdrawals at other banks’ ATMs: R12.00

Other fees

  • Debit orders: R3.50

  • Electronic payments: R1.20

  • Electricity purchases: R1.50

  • Payment notifications: R1.00 per month

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