Bank Charges

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Maelly

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So, I checked my statements from June - November 2008. I found out that on average I spend R108 per months!!! Based on this, I think I need to do something soon! Either I choose a new package from my current FNB Bank or I go the CapiTec route.

Am I the only one spending so much on BankCharges????
 
Just my regular debit orders from my savings account are like R50 all together. Then there is a R7 monthly management fee and debit card swipes are R2 each. My other account linked to that (a cheque account thats unused) costs R60, but I think my Internet Banking is covered in that charge.

I'm gonna be moving over my debit orders in a orderly manner to my Capitec account in the first few months of next year, it will half my banking costs. And the debit card swipes will be free.
 
who knows.. i think the unions are waiting for waork to start before they start marching against banks.. you know to extend the holiday along the way ;)
 
I'm also thinking of going the Capitec route. They've grown such alot over the past few years. Ithink they might even overtake the 4 big ones in the future.
 
Just decided to pay the banks a visit today:


1. Standard Bank
My STD Bank Card expired in 2007 (wasnt aware), I need to go get a new card and also check my investments so far. Need also to reactivate my InternetBanking (deactivated it after I entered incorrect login details 3 times or so)


2. FNB
2.1 My FNB Cheque card expires next month, have since received an sms notifying me of this, so I need to tell them where to send it since I am now in PTA.
2.2 I need to enquire about that R66 Unlimited plan and see what its all about. Hopefully I can switch to it.

3. Capitec Bank
Regardless of what happens with my FNB, its time to get that Globa, One Account. I need to ask about 1) Credit Card, and 2) Petro Card


Time to take a bath now...
 
Maelly said:
3. Capitec Bank
Regardless of what happens with my FNB, its time to get that Globa, One Account. I need to ask about 1) Credit Card, and 2) Petro Card
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I don't think they have those (credit or petro card)... I just use my debit card at BP garages and seperately I have my Virgin Money credit card (which is cheap too and basically free if you don't have credit on it thats earning interest).
 
supersunbird said:
I don't think they have those (credit or petro card)... I just use my debit card at BP garages and seperately I have my Virgin Money credit card (which is cheap too and basically free if you don't have credit on it thats earning interest).
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I think you're right, I seem to remember them not doing credit cards and garage cards.
 
Ok, I now have my Capitec Bank Account!!!! I will probably start using it as my main in about 2-3 months.
I hate that Internet Banking Dongle though!!
As for the Credit and Petro Cards, I will keep my FNB for now...
 
supersunbird said:
Well... then I probably wouldn't have my cellphone on me either since where would I go without my house keys and cell? They like peas in a pod :p
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I've got two sets of keys :(
 
Maelly said:
So, I checked my statements from June - November 2008. I found out that on average I spend R108 per months!!! Based on this, I think I need to do something soon! Either I choose a new package from my current FNB Bank or I go the CapiTec route.

Am I the only one spending so much on BankCharges????
Click to expand...

I think it really depends on the transactions you make regularly and then choosing the financial products that cater for those transactions in the cheapest way.

supersunbird said:
Just my regular debit orders from my savings account are like R50 all together. Then there is a R7 monthly management fee and debit card swipes are R2 each. My other account linked to that (a cheque account thats unused) costs R60, but I think my Internet Banking is covered in that charge.

I'm gonna be moving over my debit orders in a orderly manner to my Capitec account in the first few months of next year, it will half my banking costs. And the debit card swipes will be free.
Click to expand...

I have some of my debit orders on my credit card which are free transactions - some companies don't allow their debit orders to go off credit cards though.


What I've noticed is that lots of people go for cheque accounts when they don't make out cheques, nor do they require an overdraft facility. It works out cheaper to get a savings account instead.
 
AirWolf said:
I think it really depends on the transactions you make regularly and then choosing the financial products that cater for those transactions in the cheapest way.



I have some of my debit orders on my credit card which are free transactions - some companies don't allow their debit orders to go off credit cards though.


What I've noticed is that lots of people go for cheque accounts when they don't make out cheques, nor do they require an overdraft facility. It works out cheaper to get a savings account instead.
Click to expand...

True, although a cheque account does let you build up a credit history, which a savings account + credit card doesn't (unless this has changed with the NCA).

It realy does depend on your typical transactions and financial situation.
 
CathJ said:
True, although a cheque account does let you build up a credit history, which a savings account + credit card doesn't (unless this has changed with the NCA).

It realy does depend on your typical transactions and financial situation.
Click to expand...

Ok, I'm in the savings account + credit card boat. When you say credit history, do you mean for applying for loans/finance [car/house] etc?:confused:
 
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