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Managing ATM charges

ATM's are convenient, but using them too often will accrue unnecessarily large banking charges.

Here are some tips for managing your ATM use:

  • Use your own bank's ATM. If you use a SASWITCH machine you will pay higher charges. Sometimes up to R25.
  • Only use the ATM once or twice a week, unless it's an emergency. Draw enough to cover your expenses for the week.
  • Decide beforehand how much you need to draw. Look at your budget and decide how much you will need. Don't draw extra 'just in case'.
  • Only use the ATM for bill-paying if you can't get to a bank. It's cheaper to do bill-paying and make cheque deposits inside the bank.
  • Don't use the ATM to check your balance or draw mini-statements. Ask for a statement inside the bank if you need one. If you have been sticking to your budget and keeping your ATM receipts you should know how much is in your account.
  • Don't try to draw money if you think there isn't enough in your account. You will be charged for trying to draw more than you have in your account, you will be charged again if you draw a lesser amount after that.
  • Don't use your debit card unless you feel unsafe carrying cash, or in an emergency. It is easy to overspend, and the charges for using your debit card are high.
  • Use online-banking as a effective alternative to make payments where you can.


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