Capitec Global One accounts?

Priapus

Priapus

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Hey guys,

I have decided to try and save money while finances are not taking a nose dive for the first time in months. :)

I am with FNB and to be honest, all their 'savings' options don't really interest me all that much. So, I looked at Capitec - they're offering 5% PA on their Global One account. That's pretty good I think.

Does anyone have any other suggestions on savings - or has anyone got one of these accounts?
 
Loads of MyBB users are happy Capitec clients. You won't look back.
 
I have one and they're not bad. Just remember you only get the 5% for balances below 10k
 
YingYang said:
I have one and they're not bad. Just remember you only get the 5% for balances below 10k
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Yeah, and 4.25% for balances over 10k - still better than FNB's 1% for balances up to 100k!!
 
You can also open 4 more accounts and get 5% on all 5 accounts @ 5% then...
 
Well, I just need to got to home affairs later to get a new ID book and wait a few weeks for that, So, what I will do is maybe open up the FNB account to just stash the money away for now... as a new ID is 4 weeks away. :(
 
Depends on the term of saving/investment I guess. I use Capitec to keep my emergency fund, as I want zero risk and instant access (saving for a deposit for a house).

If you are investing for the long terms though (i.e. you don't want to touch your money for the next 5-10 years) then there are more more attractive vehicles for that such as ETF's (SATRIX & etfsa.co.za) or unit trusts which should give you much greater returns over the long terms with acceptable levels of risk.
 
FNB Smart Account Saving Pocket gives you 3.4% p/a from R1 upwards.
FNB 7 day notice account, 50K balance give you 4,6% p/a.
So combine the two accounts and you get 8% p/a.
 
Why/What is the logic/reason of keeping a balance below 10k but having several accounts ? If you can have for example 5 accounts why not set the limit at 50k for one account ; why have 5x10k and not 1X50k
 
AlmightyBender said:
Depends on the term of saving/investment I guess. I use Capitec to keep my emergency fund, as I want zero risk and instant access (saving for a deposit for a house).


If you are investing for the long terms though (i.e. you don't want to touch your money for the next 5-10 years) then there are more more attractive vehicles for that such as ETF's (SATRIX & etfsa.co.za) or unit trusts which should give you much greater returns over the long terms with acceptable levels of risk.
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No, I want 24/7 access to it. :)

Andre53 said:
FNB Smart Account Saving Pocket gives you 3.4% p/a from R1 upwards.
FNB 7 day notice account, 50K balance give you 4,6% p/a.
So combine the two accounts and you get 8% p/a.
Click to expand...

Would not take a 7 day notice account - I will look into the Smart Account.

Thank you.
 
Andre53 said:
FNB Smart Account Saving Pocket gives you 3.4% p/a from R1 upwards.
FNB 7 day notice account, 50K balance give you 4,6% p/a.
So combine the two accounts and you get 8% p/a.
Click to expand...

Too much fail in this post hahahaha. In reality your average return would be 4% not 8%.

Tander, please just get the Capitec account, fees are so so much lower than a Smart account.
 
It has just accrued to me..

If I am getting 5% PA - I am losing money as inflation is higher than that?
 
Ive been with Capitec over a year now
havent had any real problems, ones I had were sorted out

My fees used to be less than my interest, I think its a bit more these days, but Im also doing alot more transactions than I did at my old bank which didnt have good rates at all
 
Tander said:
It has just accrued to me..

If I am getting 5% PA - I am losing money as inflation is higher than that?
Click to expand...

Yes, and Capitec is the best bank at paying decent interest on a normal savings account, just think how bad it is on the other banks saving accounts.
 
Got 5 accounts with Capitec which gives me about R175 per month interest which i then transfer to a higher interest bearing account each month :)
 
Capitec is the best. Why get money back from a bank when you pay so much per month? Just take less in the first place FNB, ABSA etc.
 
I would recommend Capitec. They are straight-forward with everything they do. No funny twists anywhere. Even when you bank online the interface is super-simple. But I am starting to notice a few degradings in their service offerings. For one, I used to be able to pull bank statements online dating back for years, now they limit this to 3 months and force you to go into a branch to have statements beyond 3 months printed at like R3 per page, which can end up costing quite a bit. Also ATM withdrawal fees increase incrementally. But one awesome feature is the ability to buy airtime via Capitec on your phone with absolutely no additional service charge.
 
BLIXEMPIE said:
I would recommend Capitec. They are straight-forward with everything they do. No funny twists anywhere. Even when you bank online the interface is super-simple. But I am starting to notice a few degradings in their service offerings. For one, I used to be able to pull bank statements online dating back for years, now they limit this to 3 months and force you to go into a branch to have statements beyond 3 months printed at like R3 per page, which can end up costing quite a bit. Also ATM withdrawal fees increase incrementally. But one awesome feature is the ability to buy airtime via Capitec on your phone with absolutely no additional service charge.
Click to expand...

Can do that with FNB App already.

If I were to get a Capitec Account - the account would not be used for anything, but putting money into it and transferring out when I need it.
It will not be a daily transaction account.
 
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