Bidvest Bank says its decision to cap fees at R72 a month does not signal a price war with the big four banks in South Africa.
Earlier this year we saw FNB challenge Capitec with a new bank offering that looked suspiciously similar to Capitec's offering.
Banks on Tuesday welcomed Finance Minister Pravin Gordhan's decision to make the banking sector more competitive through transparency.
Banks have forgotten who their clients are, writes Maya Fisher-French.
Fano Ephraim Mtshali hasn't held a steady job since 1998 and claws out a living for his two children and his eight orphaned nieces and nephews.
South Africa's bank charges are too high and banks should implement reforms, a report by the Competition Commission has found.
The Competition Commission looks to streamline debit order systems, writes Maya Fisher-French.
South African banking charges were higher than they would be at competitive levels, according to a Competition Commission enquiry report.