No price increase for StanBank personal customers
Standard Bank said it would not increase fees for its personal banking customers in 2013‚ the second year in a row it has not changed its prices.
The bank also this year in April cut fees by 50%. However‚ it said there would be "marginal" price increases for its business banking customers.
Sugendhree Reddy‚ head of personal markets at Standard Bank SA said: "Consumers remain under pressure in this difficult economic environment.
"Standard Bank has over the past two years effectively passed real savings back to our customers through reduced bank fees‚ providing them with some relief as other expenses escalate."
The big four banks are under pressure from the government to further slash fees as part of a broader strategy by the government to widen financial inclusion and reduce the cost of banking particularly for lower income customers.