Banks still charge up to R50 for instant payments – collectively costing South Africans millions | Business Insider

says RTC volumes increased by 66% in 2021"due to the increased demand for lower-value smaller transactions cleared in real-time".

Historically, Capitec offered the cheapest RTC services in South Africa at R7.50. A Capitec spokesperson previously said they decided to keep these fees low to remove risks associated with carrying cash. In 2021, an Absa spokesperson told Business Insider SA that immediate inter-bank payment fees"cover the costs associated with inter-bank real-time clearing, as well as the additional fraud prevention measures we have implemented on this transaction type."

Nedbank is the worst. The instant payments is bull. Takes up to 1 hour to clear. they always blame the other banks. FNBSA is done in seconds

...but there are still sooooo many people who don't believe how cryptos are forcing the banks to remain relevant. This is just one of many examples! Don't believe me? Just go do a real-time crypto transaction.. anywhere in the world nogal! (This ISN'T about investing in cryptos)

I recently left FNB, after 20y as a client, because of their greedy fees. I now earn good returns in interest and real cash back at Capitec instead. No more dwindling eBucks.

Catch your sub FNBSA

This topic will end here nothing will happen

FNB ingxaki

Blood sucking leeches from which there is no escape. Applies to politicians too. 🤨👎

I thought it was R10 wtf

And for depositing money. Imagine charing your clients to GIVE YOU MINETY

haibo guys, is this true?! Discovery_SA

FNB stated that if you send to card number, it's less than sending to account numbet- load of rubbish but there website says R7.00. Load of rubbish cause was still charging R50 last month

R7.50 at Capitec.

That R50 is the reason I don't do immediate payments

Banking in sa is ridiculously expensive compared to the uk. Lived there for a year, and you only pay for ' complicated ' transactions, like international transfers etc.

⚡️

To use your own money they charge you.. opt out!

People just want to complain about everything.

Criminal behavior

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