Capitec Bank keeps fees unchanged

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SinghDude

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http://www.iol.co.za/business/companies/capitec-bank-keeps-fees-unchanged-1.1029676

Capitec Bank (CPI) has announced that its bank fees will not be increased in 2011.

It said at the weekend that its decision not to raise prices - traditionally implemented by all banks on 1 March - was simple: it wanted to empower South Africans to be more in control of their money.

Riaan Stassen, Capitec Bank's CEO explained, “The recent price hikes in electricity, food, petrol and school fees, among other personal expenses, means South Africans already have enough financial pressure to contend with in 2011. So it is with this in mind that we have not increased our fees. By so doing, we intend on maintaining our position as the most competitively priced bank in South Africa while providing clients essential banking services at the most affordable price.”

Sentiment surrounding bank fees is not a new topic. In 2008 the Competition Commission announced 28 recommendations to banks to reduce their fees and make them more competitive. This was followed in June last year by Finance Minister Pravin Gordan's call for “absolute transparency in banking institutions”.

“We fully support Government's call for greater transparency within the banking industry - in fact all of our fees are readily available on our website for easy reference and have been for some time. This means clients always know what they will pay, and for what - there are no hidden fees,” explained Stassen. - I-Net Bridge
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Capitec FTW :love:
 
FNB's still the best but the charges are definitely a bit high...
 
Good news. Personal banking with Capitec (debit orders cheap cheap), business with FNB. All I need from Capitec is top-ups on internet banking.
 
I have been using capitec since Feb 2010 and love it. It's simplebut it just works.
 
Capitec is awesome. You don't have to draw money cause swiping your card is free!
 
Pooky if you don't want to open a credit account and so on, what types of saving accounts are there thats best to use?
Pooky said:
Capitec is awesome. You don't have to draw money cause swiping your card is free!
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Nokkie said:
Pooky if you don't want to open a credit account and so on, what types of saving accounts are there thats best to use?
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With Capitec there is only 1 card AFAIK.

It's basically an ordinary savings account, the interest is quite fair (on my Nedbank card I don't even get interest). Why I like it is I don't like drawing cash, and with Capitec swiping is free, so I can just buy some chips or a drink and swipe my card for like 5 rand! :D
 
Pooky said:
With Capitec there is only 1 card AFAIK.

It's basically an ordinary savings account, the interest is quite fair (on my Nedbank card I don't even get interest). Why I like it is I don't like drawing cash, and with Capitec swiping is free, so I can just buy some chips or a drink and swipe my card for like 5 rand! :D
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That's the beauty of it, makes it worthwhile to use for small purchases. Even if you do need cash, and have to use a non-Capitec ATM, the Saswitch fees are low.

B
 
Bismuth said:
That's the beauty of it, makes it worthwhile to use for small purchases. Even if you do need cash, and have to use a non-Capitec ATM, the Saswitch fees are low.

B
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And you can draw from Checkers or PnP I think for only R1
 
FNB offers me a once off payment a month (R90 or something) and then I can swipe my card unlimited, draw at pnp etc for free, free internet banking etc. I wont change from FNB, they have awesome service and products!
 
if you spend a lot on your card, then with FNB you can make up for bank charges with e-bucks. you also get a cheque visa card which you could use for online purchases. other than that Capitec is tough to beat.
 
wndrbees said:
if you spend a lot on your card, then with FNB you can make up for bank charges with e-bucks. you also get a cheque visa card which you could use for online purchases. other than that Capitec is tough to beat.
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Yeah, if Capitec could get a debit card that you could use online, I would love them even more.

B
 
Hi

My friends have repeatedly told me how much cheaper Capitec Bank is, but I'd decided to remain loyal to my bank as I didn't feel that it was charging me a ridiculous amount. But having heard that Capitec wont be increasing its bank charges, I'll admit that the option to switch banks is very tempting. I just might open a Capitec bank account soon.
 
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