Bank Fees !!!

Is there anyone who prefers Absa? I would walk into standard bank before taking a simple glance at Absa.
 
Jola said:
Nothing special, but it worked out to R284 per month. Don't know why, it doesn't provide a breakdown.

But the one thing that is quite noticeable with these bank fee threads is that some people prefer x bank, and others prefer y bank, but I have seen absolutely nobody that prefers Standard Bank.

Does that tell you something ?
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Yeah, I used to be with them as a student. Then they contacted me one day after I started working and told me I need to move from my student account to a normal savings account for R100 a month within 10 days, when they will be closing it and confirmed that I will lose all my money. I went that weekend to close both my Standard Bank and Absa accounts, and opened a Capitec account. That was in 2010, and I haven't looked back.

Unfortunately, I had to take a home loan with Standard Bank, but that only costs about R60 in admin fees, and their interest rate was the lowest of all the providers that approved us.

Regarding your costs, I think their calculator must be broken. I think the most my bank fees have ever been, was around R75-R80. I only swipe(free) unless I have no other choice, and none of their other costs are more than you'd be paying at any other bank. EFT's and debit orders are also really cheap.

What type of transactions will you be doing the most?
 
Ho3n3r said:
What type of transactions will you be doing the most?
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Really nothing special.

I think that their calculator classifies a local R20 000 EFT deposit, which I believe should be free, as a R20 000 cash deposit, which will obviously attract high fees.

But they don't show the detail, so I cannot see.
 
Jola said:
Really nothing special.

I think that their calculator classifies a local R20 000 EFT deposit, which I believe should be free, as a R20 000 cash deposit, which will obviously attract high fees.

But they don't show the detail, so I cannot see.
Click to expand...

Yeah, I did the fee calculator as well. I assume you filled the following with the 20 000 EFT transfer (deposit is the wrong word here):
Ckm5k2P.png

Mine jumped up from R89 (worst case scenarios selected for myself on all), to R281 when I inserted R20k on that page. That is only for deposits at the bank or at the ATM. Normal EFT transfers out of the account is R1.60, and into it is obviously free as the payer pays that.
 
I thought EFTs were free on all banks. I am sure Capitec is the only one that charges for those
 
epah said:
Fnb has never charged me for an EFT.
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And what is your monthly fee on that account? Is this one of those accounts where you pay R100 a month just to keep your account open, before even doing anything on it? I'm pretty sure they do that on their R5 a month accounts, in fact I doubt they even have such a cheap account.

I know for sure they didn't have that on the credit card I had with them for a year or 2. It was something like R3 per EFT.
 
Ho3n3r said:
Yeah, I did the fee calculator as well. I assume you filled the following with the 20 000 EFT transfer (deposit is the wrong word here):
View attachment 540873

Mine jumped up from R89 (worst case scenarios selected for myself on all), to R281 when I inserted R20k on that page. That is only for deposits at the bank or at the ATM. Normal EFT transfers out of the account is R1.60, and into it is obviously free as the payer pays that.
Click to expand...

Yes, I think that is what happens.

It drops to just under R76pm if I remove the transfer in.
 
Last edited:
R105 pm. With the credit card they do charge you but with your Cheque Card they don’t.

Also they do have an easy account which is about R5 pm.

I am literally shocked. Never knew Capitec charged for simple EFTs.
 
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