FNB forex fees for travelling are a complete rip-off. Off course you don't investigate what these are when you open an account but when the time comes that you need it you would assume that they would be reasonable. If you want to use your platinum cheque card to withdraw from a foreign ATM they charge R40 withdrawal fee 2.75% commission the spread between the mid market rate and their published selling rate which is currently about 2.2% on EUR (one of the cheapest currencies I would imagine). This means that you are effectively paying R89.50 to withdraw R1000. It is not much cheaper to swipe your card either as you are still paying the 4.95% effective commission (spread state commission). This means that instead of the R12.70 to the Euro you are paying R13.29 to the Euro. Their cash passport is hardly better. The returns to the bank on these transactions must be crazy and are just an abuse of their customers once they have them locked into a banking relationship with them. I realise that this is not going to change anything but people should be aware that when they open an account the headline fees and benefits might look good - but the will milk you in other ways
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