It has been eight years since we first published what has become the annual Finweek Bank Charges Report and finally the country’s big financial institutions seem to be paying attention.
Our investigation reveals that three out of the country’s big four banks have reduced fees across a range of products and offerings.
Nedbank, the banking group with the country’s smallest retail footprint, emerges in our most recent study as offering the country’s most expensive banking products. We rated it as the most expensive in our earliest studies, and after it aggressively cut fees in 2007, it has seen a steady rise in pricing while its peer group has taken the hatchet to the cost of individual transactions.
Click on the link below to download the official report in PDF format.