Anybody looking to save some money over the next few months may want to take note of an announcement made by Standard Bank at the weekend.

The bank announced that, for the next six months, certain fees for its MyMo accounts will be waived. That is to say you won’t have to pay the fees and they won’t be deferred either.

The fees that will be waived include:

  • MyMo monthly management fee of R4.95
  • ATM cash withdrawal fees up to R2000 at Standard Bank ATMs
  • Instant Money fees, for vouchers below R1000

Unfortunately this offer does not extend to existing MyMo customers and is only applicable to those who opened or open an account between 29th April and 15th June.

“By waiving the fees associated to the MyMo account, we hope to help ease the financial burdens of individuals. We want our customers to have piece of mind that they can get their salary or any funds deposited into a MyMo account without having to worry about fees,” said head of Everyday Banking Main Market at Standard Bank, Tshiamo Molanda.

While you can open a MyMo account at a Standard Bank branch we’d assume that many folks would rather avoid standing in queues.

For that reason it’s worth noting that you can open a MyMo account via the Standard Bank website or its app.