DICTIONARY of FEE-RELATED TERMS Nedbank Consumer Banking

DICTIONARY OF FEE-RELATED TERMS Nedbank Consumer Banking Type of transaction/Fee Description Annual fees Cheque card service fee This is the annual card service fee for having access to a cheque, credit or Credit card service fee garage card. This fee is payable even if you don’t use the card. Garage card service fee Monthly fees Account maintenance fee This is the monthly fee that you pay for your transactional account. The fee is payable even if you don’t use your account. Overdraft facility fee This is the monthly fee you pay for having an overdraft facility. The fee is payable even if you have not used your overdraft facility. Self-service banking This is the monthly fee for having access to the self-service banking channels subscription fee (electronic or digital) such as telephone or internet banking. The fee is payable even if you don’t use any of these services. Transactional Pay-as-you-use transactional fees are charged only when you perform any (pay-as-you-use) fees of the transactions listed. Deposits Electronic deposit An electronic deposit, or electronic funds transfer (EFT), is when a third party deposits money electronically into your account, for example when an employer deposits your salary into your account. This is a free service and the cheapest way to get funds into your account. Cheque deposit A cheque deposit fee is charged when you or any other person deposits a cheque into your account. Cash deposit A cash deposit fee is charged when you or any person deposits cash into your account. Cash withdrawal At a participating retailer’s This is the fee paid when you use the tillpoints of retailers such as Pick n Pay till point and Checkers to withdraw cash. It is the cheapest way to get cash. At ‘own bank’s’ ATM This is the fee paid when you draw cash from your account at any Nedbank- branded ATM. At another bank’s ATM This is the fee paid when you draw cash from any other banks’ ATMs (FNB, Standard Bank, ABSA, Capitec, etc). It is more expensive to use another bank’s ATM. At a branch This is the fee paid when you go into any Nedbank branch and draw cash at the teller using your bank card. It is the most expensive way to draw cash. Cheque encashment This is the fee paid when you go into any Nedbank branch and encash one of your cheques instead of depositing it into your account. It is the most expensive way to obtain cash. At an international ATM This is the fee paid when you travel outside of South Africa and withdraw cash from any international bank’s ATM. There may be an additional charge for using the international bank’s ATM. Nedbank Ltd Reg No 1951/000009/06. Authorised financial services and registered credit provider (NCRCP16). Payments Electronic payment This is the fee paid when you use the bank’s electronic or digital channels to make a payment to a third party. This payment is also an EFT. Debit order (internal) This is the fee paid for processing a debit order on your account to pay for another Nedbank product such as a credit card, personal loan, vehicle finance or home loan. The amount of the debit order may be fixed or variable depending on the service agreement terms. Debit order (external) This is the fee paid for processing a debit order on your account to pay for all other non-Nedbank services such as DStv, life insurance and a cellphone bill. The amount of the debit order may be fixed or variable depending your service agreement terms. Stop order This is the fee paid for processing an instruction by you to Nedbank to periodically debit a specified bank account with a fixed amount and credit another bank account. The bank account to be credited can be in your name or that of a third party. Cheque payment This is the fee paid for when you use a cheque to pay for any items. Interaccount transfers This is the fee paid when you transfer funds from one Nedbank account to another Nedbank account in your name. Cheque and debit card charges Purchase at a tillpoint This is the fee paid when you use your debit or cheque card to make payments at tillpoints of retailers such as Pick n Pay and Checkers. Fuel purchase This is the fee paid when you use your cheque, debit or garage card to pay for petrol at a service station. Card replacement fee This is the fee paid for a replacement debit or cheque card. Balance enquiry This is the fee paid when you request your balance (actual and/or available) on your bank account. The request may be made through multiple bank channels, including branches, ATMs and SMSs. If you use any digital channel, there is no charge. Statement enquiry This is the fee paid when you request a copy of a statement (current and/or historic) on your bank account. The request may be made through multiple bank channels including branches, ATMs and online banking. If you use any digital channel, there is no charge. Prepaid purchases This is the fee paid for using Nedbank’s digital channels, such as ATMs, online banking, apps and SMSs, to buy a prepaid service such as airtime and electricity. Other charges Bank-guaranteed cheque This is the fee paid for Nedbank to stamp one of your cheques as ‘guaranteed’, assuring the person receiving the cheque that there is money in the account. Bank’s own cheque This is the fee paid for Nedbank to issue you a bank cheque to pay a third party if you do not have a cheque book. Declined transactions This is the fee paid for our declining your debit or cheque card transaction at a retailer or other bank’s ATM if you do not have enough money in your account (insufficient funds). Stop-payment instruction This is the fee paid when you send Nedbank an instruction not to pay a specific cheque or a debit order against your account when these debits are presented for payment. Dishonoured payment due to This is a fee that Nedbank will charge you if you did not have enough money insufficient funds in your account for a debit order to be processed. Honouring fee This is a fee that the bank will charge you for allowing a debit order to be processed on your account when there are insufficient funds in your account to honour the amount. This service is dependent on your credit history with Nedbank..

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