Interchange Determination Project: adjustment of interchange rates for transactions emanating from automated teller machines, from 1 March 2019

The purpose of this communiqué is to announce the adjusted interchange rates for automated teller machines (ATMs). The South African Reserve Bank (SARB) annually reviews interchange rates for transactions emanating from the ATMs, cards and point-of-sale devices.

In 2018, the SARB decided to keep the interchange rates for cards and cashback at point-of-sale devices unchanged. However, the ATM cash withdrawals fixed interchange rate was adjusted from R3.48 to R4.07 while the cash withdrawals variable interchange rate remained unchanged at 0.53%.

The new ATM interchange rates, as indicated in the numbers below, were implemented by the payments industry with effect from Friday, 1 March 2019. ATM interchange rates

Transaction type Previous interchange rates (until 28 February 2019) New interchange rates (as from 1 March 2019) Cash withdrawals (fixed) R3.48 R4.07 Cash withdrawals (variable) 0.53% 0.53% Interchange rates for ATMs, cards and cashback at point-of-sale devices will be published on the SARB website.

Any queries relating to the above-mentioned may be forwarded to [email protected] .