Difference between Management Fee and Service Fee

[Boitumelo]

Hi Dawid,

There is a different fees charge for different account. This will depend on the type of account you have and so are the charges will differ in this regards. To better answer your question please follow the link provided to view this fees on how to calculate and what are the charges: http://www.standardbank.co.za/standardbank/Personal/Fees,-rates-&-prices

How to calculate your transaction fees

You will notice that some fees contain three numbers. The first number represents the base fee per transaction, the second the percentage of the value of the transaction and the third is the maximum fee payable on certain fees.

For example, cash withdrawals on a personal current account are charged at R4.00 plus 1.20% of the value, no maximum fee. If you issue a cheque for R1 000 the cost would be R4.00 plus R12.00 (1.20% of the withdrawal amount) making a total fee of R16.00.

I trust this should be hlepful.

Regards,

Boitumelo

[DawidMocke]

I would like to know how the management fee differs from the service fee?

In the explanation please tell me what tasks are done and what value is added (i.e. what do I get) for paying the Management Fee and the Service Fee.