Bank Zero: Why you should switch to a digital bank

[Jan]

The case for switching to a digital bank

Several new digital banks have disrupted the South African banking sector in recent years.

These digital banks have focused on streamlining banking for South Africans and have forced traditional banks to up their game accordingly.

 

[Grieta Thanburg]

• Entered wrong pin — Bank Zero reminds you of your pin’s length.

This one is info leakage. Not sure how it got past pen testing. Other than this

 

[Harmonic]

#Advert.

Other than that, why would you consider a tiny bank with next to no products compared to traditional banks? Now that's an advert I would read

 

[saor]

Digital bank that doesn't have virtual cards.
Lol.
(Unless something's changed since I last looked)

 

[backstreetboy]

#Advert.

Other than that, why would you consider a tiny bank with next to no products compared to traditional banks? Now that's an advert I would read

Fees? After jumping through hoops and subtracting the monthly fee with FNB I only get +-R 150 back in eBucks and an overpriced mocha protein shake from Kauai.

 

[Harmonic]

Fees? After jumping through hoops and subtracting the monthly fee with FNB I only get +-R 150 back in eBucks and an overpriced mocha protein shake from Kauai.

I guess it works for those with the simplest of banking needs

 

[Ockie]

Bank Zero also noted that while its own systems maximise the latest digital technologies, the degree to which other digital banks do the same depends on the quality of their internal systems.

No Apple, Samsung or Google Pay support. They dont accept immediate EFT's from other banks. They dont support Payshap. That does not compute with that sentence I quoted.

@Jan time for you guys to ask Bank Zero about this.

 

[backstreetboy]

Digital bank that doesn't have virtual cards.
Lol.
(Unless something's changed since I last looked)

Why would you need that with BZ?

 

[droplet]

is this a sponsored article?

 

[Mystic_ZA]

I tried to sign up for every free bank offering including all the digital offerings from all physical and digital banks.

I have screenshots of the entire process. If someone wants to write up about the awful experience of some of them, feel free to reach out for the images or do the same

Discovery had probably one of the easiest on boardings.

BankZero one of the worst...

 

[supersunbird]

Why would you need that with BZ?

The same reason as one wants it at any other bank?

 

[backstreetboy]

The same reason as one wants it at any other bank?

They have the card skimming patent and every online transaction you have to approve so just wondering.

 

[PsyWulf]

Bank Zero's app feels like it's from 2010,but the signup is pretty simple

 

[ProfA]

wow. great article. I see why you guys win awards for journalism.

 

[Ockie]

I tried to sign up for every free bank offering including all the digital offerings from all physical and digital banks.

I have screenshots of the entire process. If someone wants to write up about the awful experience of some of them, feel free to reach out for the images or do the same

Discovery had probably one of the easiest on boardings.

BankZero one of the worst...

I actually fou d Bank Zero very easy. Getting the selfies right was a bit of a pain but was pretty easy and FICA approval was very quick.

 

[Moonlit8377]

Someone already mentioned this in another Bank Zero thread, but Tymebank ate their lunch.
But I do think the personalised cards are a nice touch

 

[Ockie]

But I do think the personalised cards are a nice touch

It is pretty cool. Not that I use it though. It stays in my wallet. Using them solely for putting some money away when I can.

 

[itareanlnotani]

I actually have a BZ account. My accountant recommended it as the fee's were low/zero.

Aside from an appalling UIX its ok for in/out to elsewhere. I get my accountant to use it though, its too **** for me to use.

 

[konfab]

I tried to sign up for every free bank offering including all the digital offerings from all physical and digital banks.

I have screenshots of the entire process. If someone wants to write up about the awful experience of some of them, feel free to reach out for the images or do the same

Discovery had probably one of the easiest on boardings.

BankZero one of the worst...

Bank Zero was extremely easy for me. I did it when I was on holiday in the West Coast with a tepid internet connection.

 

[konfab]

#Advert.

Other than that, why would you consider a tiny bank with next to no products compared to traditional banks? Now that's an advert I would read

Only zero fee bank that has support for business accounts.

Go and see how much a business bank account costs for a CC.