If your are a Nedbank customer don't leave your glasses at home or get old and forgetful.
The bank believes it has found a novel solution to delays and long queues at its automatic teller machines (ATMs) - it penalises people who make mistakes. At Nedbank ATMs every mistake you make costs you R1.14.
Nedbank is the only major bank in South Africa to levy what it calls a "denial fee".
Colin Weaver, Nedcor Bank's head of electronic banking confirmed the implementation of the new levy.
Mistakes that are penalised include entering an incorrect PIN number, a request denied due to insufficient funds or a request denied because it exceeds the daily limit set by the bank.
Weaver said that the reason for the new levy was to curb the number of errors occurring at ATMs.
"An analysis revealed that 16 percent of all ATM transactions were unsuccessful. And of these, 50 percent resulted from client error," Weaver said.
He said that the penalties had been implemented for clients' convenience.
"Each denied transaction due to client error costs the bank money and inconveniences other clients who are standing in the queue waiting to use that particular ATM. The denial fee was primarily introduced as a deterrent to avoid this inconvenience to our clients."
Other Nedbank penalties are R11.40 for lost card replacement and R7.98 for teller withdrawals.
Standard Bank spokesman Eric Larsen said Standard Bank did not charge denial fees.
But Standard Bank does charge R11.25 for a lost card replacement and a flat rate levy of R6 for any over-the-counter transactions.
Absa spokesperson Nan Eyles said Absa did not charge denial fees, but three wrong entries would result in your card being swallowed.
Absa charges between R10 and R20 for lost card replacement and there is no penalty charge for teller withdrawals.
First National Bank's deputy general manager of Electronic Banking said: "We don't charge denial fees, in fact I have never heard of it."
FNB charges R10 for lost card replacement. There is a whole schedule of over-the-counter transaction charges which are normally slightly higher than ATM transactions.