Capitec charges R1.15 per R100 cash deposited into your account.

[akescpt]

I think the problem with that is how quickly it becomes available. I have never done it before. Anyone know how long it takes to clear?

if you need the money soon again then why don't u just keep it and pay cash?

 

[Pitbull]

FNB Cash deposit at ATM rates…
Easy account - R4.55
Smart account - 0.70% of deposit value (min R5.50)
Personal cheque account - 0.70% of deposit value (min R5.50)
Encore cheque account - 0.70% of deposit value (min R5.50)
Youth account - 0.70% of deposit value (min R5.50)
Student account - 0.70% of deposit value (min R5.50)
Savings account - 0.70% of deposit value (min R5.50)
Mzansi account - R6.50
etc ect

While significantly cheaper than in bank cash deposits I don't see a single one listed as Free. https://www.fnb.co.za/downloads/pricing-guide/Personal_Pricing.pdf

You are right, I stand corrected.

if you need the money soon again then why don't u just keep it and pay cash?

True

 

[Gtx Gaming]

if you need the money soon again then why don't u just keep it and pay cash?

cash clears instant at fnb atms.

Not safe to carry cash anymore , the one day i had cash on me R50 , i got robbed :/

 

[MrR]

Cash handling is an expensive business considering that they have to use CIT/cash handling services (e.g. G4S) to move and manage the physical monies between drop safes, counting houses, ATM's etc. There's also an element of risk involved and those monies are insured as well, thus increasing the cost of handling physical cash.

In recent years the banks (especially Capitec) have been vocal about clientele going cashless or not using the respective bank's cash handling services directly. Instead they partner up with other service providers and retailers, such as Capitec's partnership with Checkers/PnP where you can "withdrawn" any amount of cash for a R1 fee, which effectively decreases the operating expenses of both parties.

AFAIK, Capitec's cash accepting ATM's work out the cheapest when depositing coins/notes. (Quick check on their site revealed 55c per R100 or to compare to other banks, 0.55% of value).
Some of the other banks include a number of free deposits during the month and thereafter will charge you a variable fee based on the deposit value.

Seeing as a portion of your salary will always consist of cash, why not use that money to pay for your daily living expenses? Alternatively, why not negotiate with the manager to EFT the funds to your account and the business takes the cash? They have cash on hand and they have to go through the woes of cash deposits.

 

[akescpt]

I get a coupla cash deposit free every month with my 'bundle' I need to go deposit like small amounts just to make sure im scoring. need to review this 'package'. worried im not getting my monies worth now.

 

[Maverick Jester]

Do ATM deposits. Costs nothing with FNB. In the branch, you pay a pretty penny

Yeah, no. It's not free.

EDIT: Beaten to it, I see

 

[MickZA]

Banker:

http://www.bbc.co.uk/programmes/b04g1bsp

... start listening at 19:50, only good for another 2 days unfortunately

 

[Chevron]

Wait... your username is LadiesMan but you're a girl?

+1

 

[Viva]

That's weird, did you use a ATM or did you go into the bank?

I used the ATM.

So using Capitec's ATM works out to 55c per hundred rand, which is not to bad.

 

[Viva]

I insist on EFT payments in my business. Cash is needless.

When selling an item on Gumtree, or Carbonite or Mybroadband, cash is a must. Apart from these instances, I can avoid cash pretty consistently.

 

[Nikita_k]

I think the problem with that is how quickly it becomes available. I have never done it before. Anyone know how long it takes to clear?

with ABSA atm, immediately.

 

[UsernameLadiesMan217]

So I might as well keep my cash then, since the amount I am charged to deposit will always exceed the 4% I get at the end of the month.

Well damn ...

Good to know it's "only" 55c at the ATM though.

 

[XennoX]

I'm a waitress lol my tips are always cash and if they're not they get converted into cash by the end of the night.

WTF? You're a chick?

 

[Ninja'd]

WTF? You're a chick?

MY LIFE IS A LIE!!!

 

[akescpt]

cash clears instant at fnb atms.

Not safe to carry cash anymore , the one day i had cash on me R50 , i got robbed :/

avoid parow then!

 

[akescpt]

WTF? You're a chick?

wtf indeed...

 

[yebocan]

WTF? You're a chick?

she is a ladiesman....lol

 

[mh348]

Got some idiots depositing R10 into my FNB account and get whacked with R28.50 charge and then they wonder why I got angry and shouted at them. Eventually the teller deposited her own money into my account just to make me go away.

Still haven't given me the bank managers account details but as soon as I get them I'm going to be doing 1000 deposits of R1 into his account to see how he likes it.

On a side note does anyone know it is possible to put an instruction on an account to not let them do in bank deposits?
My GF often does charity stuff and they deposit money into an acc in small amounts and some idiots even go as far as to deposit twice at the branch for 2 separate things rather than do one payment. People are retarded!

hehe I do this for my tv license, pay in R5 and R10 "instalments" so it costs them more then what I'm paying

 

[Bryn]

Standard Bank gives me four free deposits a month. Rather nice.

 

[chrisc]

R1,15 per R100 for cash is quite reasonable. Even worse though are cheques. Capitec charge R9,00 for any cheque deposited into your account

On the positive side, the daily balance interest rate has increased and that more than compensates for fees