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South Africa has the highest average ATM cash withdrawal fees out of 27 countries.
A survey by management consulting firm Accenture found that a transaction in South Africa cost nearly the equivalent of two US dollars - or R16.75.
The country also had the highest withdrawal fees of 4-dollars-59, equal to R38.44.
In contrast 18 countries, which include the United States and the United Kingdom, charge nothing for ATM withdrawals and 14 charge nothing for branch withdrawals.
Vinolan Pillay, an executive for banking at Accenture, told Business Day that despite the high charges, the survey found that 38% of South African consumers are satisfied with their bank, above the global average of 36%.
