ATM fees back under Level 3

From 1 June, it will cost more to withdraw money from an ATM that does not belong to your bank. Banks scrapped so-called Saswitch charges in April to encourage social distancing and stop clients from travelling long distances to their banks. Courtesy #DStv403

JOHANNESBURG - Starting on Monday, it will cost more to withdraw money from an ATM that does not belong to your bank.

Banks scrapped so-called Saswitch charges in April to encourage social distancing and stop clients from travelling long distances to their banks.

But the Banking Association says the fees will now be brought back under the Level 3 lockdown.

READ: Banks' temporary relief more than R15bn for COVID-19-hit consumers

It says banks will no longer absorb the cost because the government has now eased lockdown restrictions.

The association also says that prudent business practices now demand that banks recover the cost of maintaining and operating ATMs.

Source
eNCA