Professional banking fees and rates

R360 monthly fees Professionals

R180 monthly fees Young professionals 

We reserve the right to vary any fee, cost or charge at any time and from time to time after giving reasonable notice.

Notes

1.  A billing cycle runs from the third-last business day of the month to the fourth-last business day of the following month. Your statement will reflect the fees for all transactions that you effected in the previous billing cycle. In other words, you are billed one month in arrear.

2.  Includes Nedbank Online Banking and Cellphone Banking WAP. Cellphone Banking and Telephone Banking: Self-service are free.

3.  These fees apply at all stores where cash withdrawal at a tillpoint is offered, for example the Pick n Pay group, including Score and Boxer.

4.  This fee applies to all transactions done through a foreign merchant and is calculated at 2% of the transaction value. For example, if you swipe your card overseas for the rand equivalent of R500, the fee will be R10.

5.  For current account products you will automatically be mailed one (free) statement per cycle billing. For savings account products you will need to request that a statement be mailed and a fee will apply.

6.  Notifications can be sent from other functions. However, a fee will be charged for each notification sent.

7.  Facility fees, while prescribed by the National Credit Act, may differ for internal banking segments.

8.  For young professionals holding at least a four-year academic qualification from a South African university. Clients can be busy with their final year, their honours or an internship, and must be under 30. Valid for five years until the client turns 30. Pricing will change to R360 in the first billing cycle after the client's 30th birthday.

9.  A 50% discount on the American Express Platinum Charge Card annual fee applies to the Professional Banking bundled accounts only and is only valid for the first year, after which the full fee (R4,450) will apply.

10.  Send money quickly and securely to any South African cellphone number.

11.  Clients who are 55 years and older with a Professional Bundle Account will receive a rebate if an aggregated average daily credit balance of R300,000 or more is maintained across savings, investment and/or money market products:

• Clients between 55 and 64 years: 30% of monthly fees.

• Clients between 65 and 74 years: 40% of monthly fees.

• Clients of 75 year or older: 50% of monthly fees.

Rebates are credited to qualifying clients’ accounts at the end of every billing cycle. Rebates are limited to one Professional Bundle Account per client per billing cycle.

12.  A compulsory minimum credit limit of R2,000 and R10,000 needs to be maintained to qualify for the Young Professional ONE Bundle Account and Professional ONE Bundle Account respectively. Failure to do so will result in the product being converted to a Professional Bundle Account or a Young Professional Bundle Account.

13.  Credit interest will accrue daily and be credited to the account monthly.

14.  Clients will qualify for a debit interest rebate on point-of-sale transactions processed during a billing cycle if the debit balance is settled within 10 days of the end of the billing cycle.