Capitec Bank Fees

Thor

Thor

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I just want to find out of this has always been the case and how these fees compares to other bank accounts.

I see when I pay someone via the Capitec App I get slapped with a TRANSFER FEE of R1.50 and then a EMAIL NOTIFY of R0.40 then a SMS NOTIFY R0.40 followed by a SMS FEE of R1.20.

WTF?

Then when Afrihost takes their money for hosting I get a EXTERNAL DEBIT FEE of R3.40

If I buy something from a shop I get a SMS FEE of R0.80

Then If I transfer money from my main account to one of the sub account I get slapped with a MONEY IN SMS FEE of R1.20 and a MONEY OUT SMS FEE of R1.20

and then lastly MONTHLY ADMIN FEE of R5.25

So my question does this seem right? How does this compare to other banks?
 
Capitec charges 40c per SMS, and is charged in one bulk amount per day. So, if you do three transactions in one day, and three SMS' are sent, then you will be charged R1,20 for SMS' for that day.
 
For some perspective, I just signed up for an FNB CC/Cheque card, and that's R140 per/M off the bat, without any added charges I might incur during the month.

My total Capitec charges have never exceeded around 50 bucks, on the other hand.
 
ShiiZZo said:
Capitec charges 40c per SMS, and is charged in one bulk amount per day. So, if you do three transactions in one day, and three SMS' are sent, then you will be charged R1,20 for SMS' for that day.
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No.

I have multiple 0.40 and 1.5 my sms total almost R3-5 per day.
 
copacetic said:
For some perspective, I just signed up for an FNB CC/Cheque card, and that's R140 per/M off the bat, without any added charges I might incur during the month.

My total Capitec charges have never exceeded around 50 bucks, on the other hand.
Click to expand...

Shait. Okey I'm staying with Capitec
 
Hendrix said:
FNB Easy Account is R4.95 pm, and free sms's, just sayin....
Click to expand...

What is that account?

What's the drawback


The thing I do like about Capitec is that there's one account. That's it.

The other banks are to complicated imo
 
Thor187 said:
Shait. Okey I'm staying with Capitec
Click to expand...

Yeah, the only reason I changed was to get a credit card to build some credit, and then figured I may as well consolidate it with the cheque account. I'm already regretting it, cost-wise, but I'm too far in now, heh.
 
copacetic said:
Yeah, the only reason I changed was to get a credit card to build some credit, and then figured I may as well consolidate it with the cheque account. I'm already regretting it, cost-wise, but I'm too far in now, heh.
Click to expand...

For credit I got myself.

A cell phone contract
A flat
A gym contract
A Edgar's account
A game account
A makro account
A afrihost adsl account
A telkom line rental account
A telkom voice line rental account
 
Thor187 said:
What is that account?

What's the drawback


The thing I do like about Capitec is that there's one account. That's it.

The other banks are to complicated imo
Click to expand...

It's FNB's answer to Capitec, has a savings pocket with a higher interest rate, 5.5% vs 5.35%, although it gets less over 20k for some crazy reason...

All round, it's cheaper than Capitec
 
Hendrix said:
It's FNB's answer to Capitec, has a savings pocket with a higher interest rate, 5.5% vs 5.35%, although it gets less over 20k for some crazy reason...

All round, it's cheaper than Capitec
Click to expand...

Interesting stuff sir.
I shall definitely look at this.
 
Hendrix said:
It's FNB's answer to Capitec, has a savings pocket with a higher interest rate, 5.5% vs 5.35%, although it gets less over 20k for some crazy reason...

All round, it's cheaper than Capitec
Click to expand...

Having no sub accounts is a security risk IMO. All banks should have something similar.
 
Your interest earned will be more than all the fees.

I've disabled SMS notifications and use online banking to check my account.
 
DA-LION-619 said:
Having no sub accounts is a security risk IMO. All banks should have something similar.
Click to expand...

I do agree. I must say I don't give a shiat if my card gets stolen cause there is nothing there. My wealth is split between sub accounts and EE
 
It's R1.50 per transfer (free between own accounts) and 40c per sms with online banking. Don't know how you're getting this extra charges with the app. Wouldn't know what their debit order fees are, prefer to use EFT.
 
Thor187 said:
I do agree. I must say I don't give a shiat if my card gets stolen cause there is nothing there. My wealth is split between sub accounts and EE
Click to expand...
Sub accounts with Capitec? Those can be accessed with your card.

I would prefer to disable sms notifications and only get one when the total for the day reaches over something like R1000.
 
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