Capitec cuts banking fees for 2019

[BusinessTech]

Capitec cuts banking fees for 2019

Capitec has published its new banking fees for the 2019/20 year, which will come into effect from 1 March.

 

[epah]

Still a Spaza bank regardless.

 

[Ho3n3r]

Still a Spaza bank regardless.

Enjoy your high bank fees then.

 

[supersunbird]

Still a Spaza bank regardless.

Good, cause we do not need the Woolies banks.

 

[Ninja'd]

Jumped ship in December. I miss doing cardless withdrawals but getting used to it.

Still a Spaza bank regardless.

Well I still go to spaza shops.

 

[UrBaN963]

Jumped ship in December. I miss doing cardless withdrawals but getting used to it.



Well I still go to spaza shops.

To visit mom?

 

[Ninja'd]

To visit mom?

Yes, son. And I hear you're giving her grey hair.

 

[supersunbird]

The instant transfer price drop is welcomed, I use it often enough.

Pity debit orders still R3.50, they are my biggest expense.

 

[Nobody Important]

Call it what you want but I do not regret moving from FNB. Without fail every month the interest earned on this "spaza" account is 5x more than the fees incurred.

 

[UrBaN963]

Yes, son. And I hear you're giving her grey hair.

You're confusing me with Dave I think.

 

[PsYTraNc3]

Call it what you want but I do not regret moving from FNB. Without fail every month the interest earned on this "spaza" account is 5x more than the fees incurred.

I suppose each to their own.

Each month, my ebucks earn is 6x more than my account fee and that excludes interest earned.
Without spending huge amounts or much effort.

The R30k+ spent in ebucks per year is reason enough for me to stay put

 

[cavedog]

Well they will need to if they still want to compete with Tyme Bank and Bank Zero when they eventually launch.

 

[d0b33]

I considered Capitec but the always present queue put me off.

 

[Polymathic]

I considered Capitec but the always present queue put me off.

How often do you go to the ATM?

 

[GoB]

The R30k+ spent in ebucks per year is reason enough for me to stay put

You sure about R30k?

With all the capping I get about R1k / month mostly from Checkers and Engen (not sure how long that can last).

I have a Capitec credit card as well... saves 2.75% on international transactions (where Ebucks rewards would be 1.5% but 0% when capped).

 

[backstreetboy]

Great news. So my bank fees will stay less than R50 p/m with CC included.

I suppose each to their own.

Each month, my ebucks earn is 6x more than my account fee and that excludes interest earned.
Without spending huge amounts or much effort.

The R30k+ spent in ebucks per year is reason enough for me to stay put

Most people will not get that, myself included, according to the calculator I will only get around R350 in ebucks. Jumping through hoops to get that is not worth it.

 

[Nobody Important]

I considered Capitec but the always present queue put me off.

There are queues in all banks.

The key is to avoid going to the bank. Yes sometimes unavoidable, but the few times I went, the queue was the same as in other banks.

How often do you go to the ATM?

Only went once. When I saw the fee for withdrawal I decided to always withdraw at the shops in future.

 

[d0b33]

How often do you go to the ATM?

If I'm unlucky once a month? Although if I do consider opening a bank account with Capitec, which would compare with FNB Premier?

 

[PsYTraNc3]

Most people will not get that, myself included, according to the calculator I will only get around R350 in ebucks. Jumping through hoops to get that is not worth it.

Yeah I will not argue with that at all.

For me, the fact that I have a home loan, vehicle finance, hit my fuel cap, Checkers cap and always have been in favor of using my CC (without making debt) makes it really easy to earn ebucks.

I don't even bother with the calculator anymore and haven't dropped from level 5 since I first reached it 3-4 years ago.

 

[backstreetboy]

If I'm unlucky once a month? Although if I do consider opening a bank account with Capitec, which would compare with FNB Premier?

They only have the Global One account at R5 p/m with a gold card. Everyone gets treated the same whether you make R1k p/m or R100k...