Appropriate response to ABSA

[syntax]

Is that Platinum or Private?

ABSA private is a ridiculous R350 + R5. (for an email statement).

Considering their private bankers, its a complete rip off.

Platinum, which includes private banker, private call centre etc etc

 

[Budza]

Together, my better half and I currently have the folllowing with ABSA -

2 x vehicles financed
1 x home loan
2 x credit cards
1 x savings account
1 x cheque account (with overdraft facility)
1 x money market account

Total = 8 accounts

Take all the details to FNB, ask them for a quote. Shop around. Ensure they know you pay on time, every time.

When you get a better deal, take the offer to absa. If they can't beat/match it, vote with your feet.

AFAIK, when you make such a move, your new bank waives all the account setup/debit order transfer fees etc due to them securing such great business.

 

[grok]

What he ^ said.

I had a long-standing account with ABSA (Volkskas) many moons ago, applied for car finance & was offered 24%. Went and saw the bank manager, sorry we can only do 24% despite having a good record etc. Walked out into Standard Band next door, they offered me 17.5% without even having an account with them. Walked back into ABSA, closed my accounts & had everything moved to Standard. I have and will never do business with our biggest red bank again.

 

[noxibox]

It usually is - I'm now on my fourth banker at ABSA - they kept changing them... all useless though

FNB does the same thing. One of them was actually excellent, but the rest were useless and/or idiots. The main advantage of having the person assigned to me though was having a particular person to shout at when things go wrong.

When I was recently looking for financing ABSA were the worst. The consultant was lazy and unhelpful. Standard Bank's consultant was very helpful, but I encountered the same old arrogant we don't need your business attitude from the bank.