use step1-4 to calculate what it will cost a client to withdraw R840,00 from inside a FNB branch
Step 1: Determine the withdrawal fee per R100
According to FNB's fee structure, the withdrawal fee per R100 for a Flexi Value Bundle account is R1.70.
Step 2: Calculate the total withdrawal fee for R840,00
To calculate the total withdrawal fee for R840,00, we need to first determine how many R100 increments are included in R840,00.
840 ÷ 100 = 8.4
Since we cannot withdraw a fraction of a R100, we will round up to 9 R100 increments.
Now we multiply the number of R100 increments by the withdrawal fee per R100:
9 x R1.70 = R15.30
Step 3: Determine the additional fixed withdrawal fee
In addition to the withdrawal fee per R100, FNB charges an additional fixed withdrawal fee of R11.90 for withdrawing cash inside a branch.
Step 4: Calculate the total cost of withdrawing R840,00 from inside an FNB branch
Add the total withdrawal fees from step 2 and the additional fixed withdrawal fee from step 3:
R15.30 + R11.90 = R27.20
Therefore, it will cost a client R27,20 to withdraw R840,00 from inside a FNB branch.