Standard Bank MyMo (Previously Access Account)

The Standard Bank MyMo Account (previously known as the Access Account) is a basic transactional account designed for budget-conscious South Africans who want affordable, straightforward banking. With a low monthly fee of just R7.50 and free unlimited card swipes, the MyMo Account is one of the most cost-effective accounts offered by a major South African bank.

Here's everything you need to know about the Standard Bank MyMo Account in 2026, including all fees, features, and tips to help you get the most value from your account.

Quick Summary

The Standard Bank MyMo Account offers pay-as-you-use banking with a minimal R7.50 monthly fee, unchanged from 2025. It's ideal for consumers who primarily use digital banking, make cashless payments, and want to avoid high account fees. With free card purchases, free retailer cashback withdrawals, and comprehensive digital banking tools, this account keeps costs low for everyday South Africans.

JustMoney tip: Before opening any bank account, check your banking habits and calculate your typical monthly transaction costs. Use our budget calculator to track your banking costs.

Standard Bank MyMo: Fees & Key Details

All fees include VAT at 15% and are effective from 1 January 2026.

Key Features

• R7.50 monthly fee: one of the cheapest transactional accounts from a major South African bank

• Free unlimited card swipes: no cost for point-of-sale purchases

• Free cashback at retailers: withdraw cash for free when shopping at Shoprite, Checkers, Pick n Pay, Spar, and other participating stores

• Free digital banking: full access via the Standard Bank Banking App, online banking, and cellphone banking (1202345#)

• Free will drafting: estate planning benefit included at no extra cost

• Free monthly statements: download up to 6 months online at no charge

• Tap to Pay: contactless payments under R500 with no PIN required

• UCount Rewards: earn instant rewards by swiping your card at retailers

• PayShap: send money quickly to any PayShap-registered number for R2

• Cashless & cardless options: Apple Pay, Google Pay, Samsung Pay, SnapScan, Masterpass, and virtual card

Who Is This Account For?

Best for:

• Digital-savvy users who bank primarily via app or online

• People who mainly use card payments for everyday purchases

• Those who withdraw cash while shopping (free cashback at retailers)

• Budget-conscious consumers looking for low monthly fees

• Low-to-medium transaction volume users

Not ideal for:

• Frequent branch users (R100 base fee per branch transaction)

• High-volume electronic payment users (consider whether a bundle account may be more cost-effective)

• Those who regularly need to withdraw large cash amounts at ATMs

How to Minimise Your MyMo Account Fees

The MyMo Account is already one of the most affordable accounts in South Africa, but you can reduce your fees even further with these smart banking habits:

Use digital banking, avoid the R100 branch base fee by doing everything through the app, online banking, or cellphone banking (1202345#).

Get cashback at retailers , withdrawing cash at the till is completely free, versus R10+ at ATMs.

Download statements online, free for up to 6 months, versus R10 at an ATM or R100 at a branch.

Use stop orders instead of debit orders where possible, stop orders cost R2 versus R3.50 for debit orders.

Batch your transactions, fewer payments means lower overall fees. Plan ahead and combine transfers where you can.

Buy prepaid services digitally, purchase airtime, electricity, lotto tickets, and vouchers on the Banking App or via 1202345# for the lowest fees.

Learn more: 10 ways to reduce your bank fees

Frequently Asked Questions

What is the Standard Bank MyMo Account monthly fee in 2026? 

R7.50 per month , unchanged from 2025, making it one of the most affordable transactional accounts from a major bank.

Are card purchases free on the MyMo Account? 

Yes. All point-of-sale purchases are completely free with no transaction fees.

How much does a cash withdrawal cost? 

Cashback withdrawals at retailers (Shoprite, Checkers, Pick n Pay, Spar, etc.) are free. At Standard Bank ATMs, withdrawals cost R10 per R1,000 up to a combined R2,000 per month, then R2.80 per R100 thereafter. At a branch, it's R100 plus R5 per R100 , making branch withdrawals expensive and best avoided.

Is the Standard Bank MyMo Account and the Access Account the same? 

Yes. The MyMo Account was previously known as the Standard Bank Access Account. The account has been rebranded but retains the same core features with updated 2026 pricing.

What is PayShap and how much does it cost on the MyMo Account? 

PayShap is a fast payment system that lets you send money instantly to any registered PayShap ID or cell number. It costs R2 per transaction on the MyMo Account.

What happens if I have an unpaid debit order? 

Unpaid debit orders are charged at R10 per instance in 2026. Note that the previous "first 3 free per year" benefit no longer applies.

Can I apply for the MyMo Account with bad credit? 

Basic transactional accounts have lower credit requirements than credit products. Poor credit may limit certain features (such as overdrafts) but should not prevent account opening. Check your credit health first.

The Bottom Line

The Standard Bank MyMo Account remains one of the best-value transactional accounts in South Africa for 2026. At just R7.50 per month with free card swipes, free retailer cashback, and free digital banking, it's an excellent choice for budget-conscious, digitally-savvy South Africans.

The main fees to watch out for are branch transaction charges (now R100 per visit), the removal of free unpaid debit orders, and slightly higher fees on electronic payments and ATM deposits. As always, the key to keeping costs low is to bank digitally and use retailer cashback instead of ATMs.

Ready to apply? Visit Standard Bank's website or your nearest branch.