Solidarity: Standard, Absa most expensive

Pretoria - Standard Bank and Absa are the most expensive banks for individual accounts in the country, while Capitec and First National Bank are the cheapest, according to a report by trade union Solidarity on Tuesday.

The report compared the bank charges of various personal accounts at the four commercial banks - Absa, Standard Bank, First National Bank, Nedbank - as well as those at Capitec with each other.

"The investigation focused on the core of transactional accounts in order to make comparisons as fair as possible," the organisation's general secretary Flip Buys told journalists at the launch of the report in Pretoria.

The report by Solidarity reiterates findings by Finweek last week, which found that FNB was cheapest, followed by Nedbank, Absa and Standard Bank.

However, Capitec was not included in that report.

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