It seems unlikely that a major full-service bank could sustain a profitable business model with a monthly account fee of just R5. Nedbank will increase the monthly "management fee" of its entry-level MiGoals account in January from R5 to R7, making it the last bank to shift away from the R5 price anchor at which these accounts have typically been.
Even Capitec Bank, with its 23 million banking customers, is unable to sustain pricing that low.
The monthly fee for its GlobalOne account increased from R7 to R7.50 in March 2024 and will likely increase further next year. That additional 50c per customer per month equates to nearly R140 million across a full financial year.
Denne historien er fra December 30, 2024-utgaven av The Citizen.
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Denne historien er fra December 30, 2024-utgaven av The Citizen.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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What to consider when drawing up your will
A will is not all about divvying up your estate - there are some other important considerations that you need to think about.
Proteas are cruising
RICKELTON: IN MASSIVE STAND WITH BAVUMA AFTER A FEW EARLY JITTERS
Pirates out to slay Abidjan
Orlando Pirates will be looking to keep up their unbeaten run in the CAF Champions League group stage when they come up against Stade d'Abidjan at the Orlando Stadium in Soweto this afternoon (kick-off 6pm).
An 'emotional' Test for Pant
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Bavuma hits back at WTC critics
Having secured their place in the World Test Championship (WTC) final to be battled out at Lord's in London in June, the Proteas have come in for some stinging criticism from fans and pundits around the world of cricket.
Lategan Makes Early Statement
DAKAR: South African Driver Captures Prologue
Kaizer Chiefs more than a 'project' Mr Nabi
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Ertugral takes charge of CT City's relegation fight
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Sundowns Have 'Big Ambitions'
WILLIAMS: MASANDAWANA KEEP PUSHING BOUNDARIES
Greaterix to prove his ability
TALENT: HE IS BETTER THAN HIS DINGAANS RUN AND WILL ENJOY THE DROP TO 1400M
