ABSA vs. FNB

Ok, me and my quick typing... damnit... I wasn't 100% clear... :)

I should have said RMB Private Bank and FNB Private Clients are both subsidiaries of FNB itself... but yes, like Claymore says they share infrastructure, but pretty much everything else is different.
 
ToxicBunny said:
Ok, me and my quick typing... damnit... I wasn't 100% clear... :)

I should have said RMB Private Bank and FNB Private Clients are both subsidiaries of FNB itself... but yes, like Claymore says they share infrastructure, but pretty much everything else is different.
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Ya they're both owned by FirstRand, but they're supposed to be independent entities from one another. RMB is way much better of you want to go private client style.
 
The nice thing about ABSA is that you can crap them out (to Barclays) when you bank with both :).

Reg ABSA I have a platinum cheque package but only a Gold card, although it's a Points card. Is there a reason to tell them to upgrade
it to a platinum card? My VISA has Extended Enrollment at PayPal which means unlimited payments - I wouldn't want to reverify my
card with PayPal (faxing documents) if my cc number were to change.
 
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CTSA : I would tend to agree on that one, RMB is much better for private client type stuff IF you meet the requirements which unfortunately are just a tad out of my league :p
 
ToxicBunny said:
CTSA : I would tend to agree on that one, RMB is much better for private client type stuff IF you meet the requirements which unfortunately are just a tad out of my league :p
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Don't worry me too :p Maybe some day... in the next life lol

Btw I recommend to anyone who has extra money at the end of the month to start investing and let them work for you. So when you retire or in a time of crisis, you'll have something to fall back on. But right now the belt is so tight, I wouldn't blame anyone if they can't even get an extra cent :p. Maybe when the economy improves and the interest/inflation goes down...
 
cyberarmy said:
Only thing I am not happy with FNB is their investment account, the flexi fixed is not as good as ABSA's investment advantage and Nedbank's Money 24 in terms of their terms, can't access the money in full (only 20%). Other two gives you full access with 24 hrs notice, good interest rate. Logged a official complain with FNB already and see what they say.
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Personally I wouldn't invest money with any bank. Rather invest in with a company dedicated to investment - banks got too many conflicts of interest. I have a Cadiz Money Market account (as far as I know best performing money market account currently). It is pretty easy - download the forms, and fax it through together with copy of ID and FICA (aaarggghh) Proof of Residential address. As far as I remember(and I can be incorrect) Cadiz MM runs at 12.5% per year, compounded monthly.
 
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So I've read all them 13 pages now, and it looks to me that fnb is the way to go? I was considering a smart account.
 
Shake&Bake said:
If you don't need a petro card and credit card - have a look at Capitec, best pricing around.
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Thats the thing, I use it all the time. I dont like cash and change. And I had an account with Saambou when they collapsed. I promised myself, never again.
 
Get the fnb personal cheque account on the unlimited option and link petrol card to that.
 
We've been with Absa now since the old Volkskasbank days... which is somewhere over twenty years... am closing the last of my non-ABSA accounts this week.
 
I have the smart saver account with FNB and a bond account with ABSA.

Is there any chance of getting FNB to take over the bind account?
I know that this is done at no cost to the client in other countries.
 
Ghazi said:
I have the smart saver account with FNB and a bond account with ABSA.

Is there any chance of getting FNB to take over the bind account?
I know that this is done at no cost to the client in other countries.
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I remember them advertising some account a few years ago where they'd buy all of your debt and put it in the "OneAccount" (I think it was) at a lower rate.

I think...:confused:
 
jacqvt said:
So I've read all them 13 pages now, and it looks to me that fnb is the way to go? I was considering a smart account.
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There's also quite a few complaints about FNB, difficult to find in the search engine, as it has only 3 letters.

I've also been mulling over closing my ABSA accounts, but it seems all 4 big banks have their "issues", as for small ones, I ain't taking that chance...
 
I've been with ABSA for over 10yrs now. They didn't give me a bond or car finance. :p The only advantage with ABSA is that they have branches & ATMs every street corner - that's why they are expensive I guess. I will be moving to FNB eventually as soon as I go completely online.
 
ABSA is really bad they bring out now that they wont do car finance for anyone earning under R6000 and how funny is this most of their employees don't even earn that
 
froot said:
We've been with Absa now since the old Volkskasbank days... which is somewhere over twenty years... am closing the last of my non-ABSA accounts this week.
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But that is not a reason. My grandparent were with Volkskas, My parent were with Volkskas and later ABSA. I opened a Denim account with Volkskas donkey years ago. And automatically I opened my cheque account with them. And I was happy for a while...

Then I started actually comparing. The default choice is not the educated choice. I have switched to FNB a couple of months back and I literally saved a grand or so right of the bat.

But I am all for educated choices - In my case, and I fit the profile of a young working professional, ABSA just doesn't make any sense. I did the maths. Did all the comparisons. The biggest difference in costs were internet banking and debit orders. ABSA's fees on this is just ridiculous. And then they have a R30 minimum fee for cheque accounts if you don't write cheques. Who in my profile writes cheques????

But I would really like to know why you are so commited to ABSA.Is it just a "I've been with them for 20 years..." or did you actually investigated your options.

Heita_Hola said:
I've been with ABSA for over 10yrs now. They didn't give me a bond or car finance. :p The only advantage with ABSA is that they have branches & ATMs every street corner - that's why they are expensive I guess. I will be moving to FNB eventually as soon as I go completely online.
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ABSA do have more ATM's but not THAT much more. One of the reasons it seems that way is because they are red and visible. I thought finding ATM's with FNB is going to be a problem. Not the case - I draw larger amounts, use my credit/cheque card more (to earn ebucks) and I never have a problem.
 
Johand said:
But that is not a reason. My grandparent were with Volkskas, My parent were with Volkskas and later ABSA. I opened a Denim account with Volkskas donkey years ago. And automatically I opened my cheque account with them. And I was happy for a while...

Then I started actually comparing. The default choice is not the educated choice. I have switched to FNB a couple of months back and I literally saved a grand or so right of the bat.

But I am all for educated choices - In my case, and I fit the profile of a young working professional, ABSA just doesn't make any sense. I did the maths. Did all the comparisons. The biggest difference in costs were internet banking and debit orders. ABSA's fees on this is just ridiculous. And then they have a R30 minimum fee for cheque accounts if you don't write cheques. Who in my profile writes cheques????

But I would really like to know why you are so commited to ABSA.Is it just a "I've been with them for 20 years..." or did you actually investigated your options.
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I've just always been happy with them. Always had good service, have never had any mess-ups whatsoever... and yes, I did investigate the options for what I want... and Absa provided me with the ebst solution.
 
froot said:
I've just always been happy with them. Always had good service, have never had any mess-ups whatsoever... and yes, I did investigate the options for what I want... and Absa provided me with the ebst solution.
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Can I ask what criteria you used?
 
Shake&Bake said:
I remember them advertising some account a few years ago where they'd buy all of your debt and put it in the "OneAccount" (I think it was) at a lower rate.

I think...:confused:
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Just got a call from FNB and they will take my ABSA bond with no cost up the the same amount registered and 50% discount of the fees for the the registration of an additional amount.
They will only confirm if they can match the 13% rate I get at ABSA once they receive the application.
 
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