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Calculate the fees for different ATM and teller withdrawal scenarios.
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6 stepsDetermine the fee for a R1 000 withdrawal from a Denbank ATM (Question 1.1).
The fee structure for a Denbank ATM is R3.50 plus R1.10 per R100 or part thereof.
- Withdrawal amount: R1 000
- Number of R100 blocks:
- Fee = Base fee + (Number of R100 blocks Fee per R100 block)
The fee charged is .
Determine the fee for a R250 withdrawal from another bank's ATM (Question 1.2).
The fee structure for another bank's ATM is R5.50 plus R1.10 per R100 or part thereof.
- Withdrawal amount: R250
- Number of R100 blocks (or part thereof):
- Fee = Base fee + (Number of R100 blocks Fee per R100 block)
The fee charged is .
Determine the fee for a R250 withdrawal at the teller at a branch (Question 1.3).
The fee structure for "Over the counter" (teller at a branch) is R23.00 plus R1.10 per R100 or part thereof.
- Withdrawal amount: R250
- Number of R100 blocks (or part thereof):
- Fee = Base fee + (Number of R100 blocks Fee per R100 block)
The fee charged is .
Calculate the percentage of the R250 withdrawal in question 1.3 that is charged in fees (Question 1.4).
- Withdrawal amount: R250
- Fee charged (from Step 3): R26.30
- Percentage =
The percentage charged in fees is .
Determine the fee for a R600 withdrawal from a Denbank ATM (Question 1.5).
The fee structure for a Denbank ATM is R3.50 plus R1.10 per R100 or part thereof.
- Withdrawal amount: R600
- Number of R100 blocks:
- Fee = Base fee + (Number of R100 blocks Fee per R100 block)
The fee charged is .
Compare costs for a R250 withdrawal (Question 1.6).
We need to compare three options for withdrawing R250:
- At the bank (Over the counter): From Step 3, the fee is .
- From Denbank ATM:
- Withdrawal amount: R250
- Number of R100 blocks (or part thereof):
- Fee =
- From a tillpoint with a purchase: The fee is R5.50 per transaction, regardless of the amount withdrawn.
Comparing the fees:
- At the bank: R26.30
- Denbank ATM: R6.80
- Tillpoint with a purchase: R5.50
The lowest fee is R5.50.
It would be more cost-effective to withdraw R250 from a .
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