I want to open a new savings account at Standard Bank. The banker wants to charge me a fee to activate the account. Do I have to pay for deposits and to open a new account?
Untitled
It is unusual, but the bank can certainly charge for the account opening and various transactions, including deposits. They should make disclosures to you in advance of charging any of these fees, so that you can decide if that is what you want. If you object to those fees, voice your concerns to the bank and select another one.
BankingQuestions.com is a free service made possible by the generous support of our advertisers. Advertisers are not responsible for site content. Please help us keep BankingQuestions.com FREE by supporting our advertisers. When you see an ad for a product or service you may have an interest in, click through to learn more.
Accounts
Article
Q&A
Podcast
Video
Blog
Discussions
PDF
Powerpoint
It is unusual, but the bank can certainly charge for the account opening and various transactions, including deposits. They should make disclosures to you in advance of charging any of these fees, so that you can decide if that is what you want. If you object to those fees, voice your concerns to the bank and select another one.
