Capitec is adding 200,000 customers each month

Yip, it seems that the closing of branches and staff reductions of the other banks has got nothing to do with new technology, but more to do with incompetence and mismanagement.

They are literally getting their asses whipped.

Maybe someone should explain this to the unions calling for strikes.
 
Gtx Gaming said:
I believe them looking at the 2 hour atm lines each month.
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I never get this. Do the people who do this not understand that they get interest on the money in their accounts?

Even if they used cash for all their transactions, why withdraw all of it at once?
 
So have Capitec actually done something to beef up their fraud payouts? Last I heard if someone clones your card or steals money out of your account your odds are very low of getting any help from Capitec. The other banks are much better at dealing with Fraud cases as I understand it.
 
konfab said:
I never get this. Do the people who do this not understand that they get interest on the money in their accounts?

Even if they used cash for all their transactions, why withdraw all of it at once?
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They want to get as much cash possible out before debit orders goes off. But they can do this pick and pay for cheaper or slighty more at another atm.
 
Gtx Gaming said:
They want to get as much cash possible out before debit orders goes off. But they can do this pick and pay for cheaper or slighty more at another atm.
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tenor.gif



But why? :rolleyes:
 
Yeah, and all 200k new customers seem to queue at my local mall every weekend. Can't imagine why I would want to join a bank where I have to queue for 2hrs at the ATM or branch every week (which mystifies me - haven't these customers heard of internet/phone banking? Or doesn't Capitec have anything like that?).
 
garp said:
Yeah, and all 200k new customers seem to queue at my local mall every weekend. Can't imagine why I would want to join a bank where I have to queue for 2hrs at the ATM or branch every week (which mystifies me - haven't these customers heard of internet/phone banking? Or doesn't Capitec have anything like that?).
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You are talking to the wrong market.

BTW, the Capitec internet banking is fine.

I opened a Capitec account just to see what the fuss is about, and the fees are low, and you get interest on your cash balance, in addition cash withdrawal fees are much lower than for the traditional banks. Also if you withdraw from another bank's ATM.

It works well, I have not had any problems.

My son also has a Capitec card, he buys on Amazon with it (I don't).

So, yes, it all works fine, a lot to be said for Capitec.

As for people withdrawing everything, well, I guess that they live more in a cash based society. I assume that the street vendors / spaza shops don't accepts cards, neither do the mini-bus taxis. And most, if not all, employers pay into bank accounts nowadays, even farmers that I know don't pay cash anymore, the risks and hassles are just too high.
 
Cius said:
So have Capitec actually done something to beef up their fraud payouts? Last I heard if someone clones your card or steals money out of your account your odds are very low of getting any help from Capitec. The other banks are much better at dealing with Fraud cases as I understand it.
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How many times does this happen to you for it to be a concern (which I doubt it is anyway)? People on MyBB got their chargebacks in a reasonable time.
garp said:
Yeah, and all 200k new customers seem to queue at my local mall every weekend. Can't imagine why I would want to join a bank where I have to queue for 2hrs at the ATM or branch every week (which mystifies me - haven't these customers heard of internet/phone banking? Or doesn't Capitec have anything like that?).
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Just withdraw at a supermarket or any bank's atm is a Capitec atm for just R2 per R1000 more. The ticketing system they pioneered at the branches also works great I didn't have to wait long to get my new cards some time ago.
 
backstreetboy said:
How many times does this happen to you for it to be a concern (which I doubt it is anyway)? People on MyBB got their chargebacks in a reasonable time.
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It happened to me two years ago where someone cloned my card and went shopping in Rustenburg (not on a Capitec card) and my bank refunded me the money very easily. New cards issued with almost no issue. Have heard of a few people with Capitec who had the opposite experience to me. Checking Hello Peter I see a lot of complaints about Fraud payouts with Capitec. Anyways, just saying.
 
garp said:
Yeah, and all 200k new customers seem to queue at my local mall every weekend. Can't imagine why I would want to join a bank where I have to queue for 2hrs at the ATM or branch every week (which mystifies me - haven't these customers heard of internet/phone banking? Or doesn't Capitec have anything like that?).
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They have that, I've been using their internet banking for 11 years now. And those queuing people will likely be using a Capitec ATM because it's R2 cheaper per R1000 withdrawn. I use any banks ATM since R8 vs R6 doesn't bother me much, so the ATM thing is not relevant except every R2 matters.
 
Cius said:
It happened to me two years ago where someone cloned my card and went shopping in Rustenburg (not on a Capitec card) and my bank refunded me the money very easily. New cards issued with almost no issue. Have heard of a few people with Capitec who had the opposite experience to me. Checking Hello Peter I see a lot of complaints about Fraud payouts with Capitec. Anyways, just saying.
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Cloned credit card or debit card? I have to enter PIN for everything, so that means the PIN was stolen too, not just normal cloning and credit card swiping (VS usign the chip) without pin. And a debit card has less consumer protection than a credit card.
 
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