Best consumer bank (2017)

[Mjc65]

Hi guys, i have been looking at stats on business tech regarding banks and according to what ive seen standard and firstnb are quite reasonable with their rates but im not convinced, what would you recommend is the best bank for transactional accounts, savings accounts and notice accounts? Also the tax free accounts. Im currently with standard but im not really satisfied with what im getting.

 

[backstreetboy]

https://businesstech.co.za/news/banking/152973/__trashed-39/

 

[Jehosefat]

Most popular is not the same as best... (Trump and Zuma are the "most popular")

 

[HavocXphere]

Investec > RMB > FNB > Nedbank

In descending order of priority.

Frankly though - don't feel like dealing with the main 4 SA banks again if I can help it.

 

[Idiosyncratic]

Hi guys, i have been looking at stats on business tech regarding banks and according to what ive seen standard and firstnb are quite reasonable with their rates but im not convinced, what would you recommend is the best bank for transactional accounts, savings accounts and notice accounts? Also the tax free accounts. Im currently with standard but im not really satisfied with what im getting.

I hate standard. FNB or Capitec is the way to go. Not familiar with Investec so can't comment on them

 

[RyanPCMR]

Investec > RMB > FNB > Nedbank

In descending order of priority.

Frankly though - don't feel like dealing with the main 4 SA banks again if I can help it.

I don't know..I've been with FNB before joining Nedbank and Nedbank is a bit expensive but very, very professional compared to the others that I've used for my personal bank, like FNB, ABSA and Standard Bank. I don't think I will ever join a bank like RMB or Investec because I'm an ordinary working class South African citizen.

 

[NarrowBandFtw]

Capitec is the way to go

+1 Capitec by a country mile

 

[^^vampire^^]

If you want a cheap bank and you do a low amount of transactions and just want simple banking then Capitec is your place. Low monthly fees and low transaction costs.

If you are looking for the bells and whistles then FNB. I really like their online banking platform coupled with the other things like ebucks and investing online conveniently as well as their unlimited option so I can do as many EFTs as I want. Their app also allows me to use my banking anywhere I am which is a godsend as I don't stay in SA anymore.

SB, NB and Absa have very underwhelming online platforms akin to a 90s website made by a teenager and all the functionality that would go with that. Anything they try to do to rectify this is usually met with days of downtime or "I know you aren't in South Africa but if you can just come into a branch then we can make sure you can use the services you pay for". Pathetic in this day and age.