BANK-ONE uses the pricing guide in Table 2 for the current account Branch
Table 2: BANK-ONE current account
Everyday banking
Choose a cheaper channel ATM card
Save on bank fees
CASH WITHDRAWALS
Participating retailer point-of-sale Unlimited
BANK-ONE ATM
R2,00 per R100 00
BANK-ONE Branch
Cheque encashment
R50 - R2,00 per R100 00
R50,00 - R2.00 per R100
in addition to checue
services feas
Another bank's ATM
Intemational ATM
R8,00 + R2,00 per
R100,00
R50,00 R2,00 per
R100,00
+
Use the information on the pricing guide to answer the following questions:
1.5.1 Why do banks charge transaction fees?
152 Calculate the transaction fees that Mocha will be charged for withdrawing
R600,00 at BANK-ONE ATM.
1.5.3 Use the fee structure in Table 2 to show how the bank withdrawal fee of
R150,00 was calculated when a withdrawal of R5000,00 was done at the the
branch. (Just for Info - the fee was reflected in the bank statement in table 1
on 20/05/2019)​