If you use your banking app to buy prepaid airtime, data and electricity, check if you’re being charged because these fees can quickly add up.Using your banking app to buy prepaid airtime, data and electricity is easy, safe and convenient, but you should be aware that these transactions cost you at most, but not all, banks.
Absa charges R1.50 per prepaid transaction made via online channels, says Cowyk Fox, the bank’s managing executive in charge of everyday banking. Nedbank charges customers R1 for buying data and airtime and R2 for buying electricity via online channels, says Tawanda Chatikobo, the head of digital channels at Nedbank
“A Standard Bank customer can choose from any transactional account including a credit card to purchase data, airtime and prepaid electricity on the Standard Bank app and internet banking,” he says.As an alternative to using your banking app to make these purchases, consider in-store purchases, some of which are free.
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