A new fee Standard Bank is collecting from clients who use its credit card only may be beyond the list of regulated charges and the National Credit Regulator has undertaken to investigate. Standard Bank is levying the monthly "card fee" on clients who use their credit card on a standalone basis without it being part of a bundled transaction fee on a linked bank account. The card fee is between R10 and R210 a month, depending on the type of credit card you have. This fee is charged on top of your monthly service fee of R40. The card fee came into effect at the beginning of the year and covers the costs of providing administration and maintenance "of all the value-added services and features associated with the card", according to Standard Bank's 2018 pricing guide. The cost of credit is regulated by the National Credit Act, which specifies what charges a credit provider can levy in respect of any credit agreement. These charges are limited to the following: an initiation fee, an admi...

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