Capitec rated world's best bank again

Bryn

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http://ewn.co.za/2017/06/27/capitec-bank-rated-world-s-best-bank

JOHANNESBURG - Capitec Bank has been rated the best bank in the world for the second successive year in the Lafferty Group’s Global Bank Quality Benchmark.

The announcement comes despite South Africa’s downgraded credit rating.

Capitec Bank CEO Gerrie Fourie says the bank is proud and thankful to receive the rating.

“We value this recognition because it’s based on information available in the public domain and represents an objective view of our company while validating the trust that our clients put in the Capitec Brand.

“The management team thank our employees for their diligent pursuit to offer our clients simple, affordable and transparent banking that helps them manage their money better. For us, this is just the start of the journey.”

The Lafferty Group’s ratings are based on information available in the public domain such as each bank’s business model, assessed in terms of factors like strategy, culture and management.

Capitec Bank is the only bank in the world to achieve five stars, beating other global leaders such as HSBC, Goldman Sachs and JPMorgan Chase and local contenders Standard Bank, Absa, Nedbank and FirstRand.

Collectively, SA’s major banks have the highest average of any country.
Well deserved in my opinion. Easily the best bank I've ever been with.
 

Bryn

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Just wished they offered business accounts as well. Charges on business accounts at the other banks are just a rip off.
I assume they don't want to bite off more than they can chew. Took a while for credit cards to arrive.
 

Flanders

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Best in the world? Wow!

Well I have only had good things to say about them since I've been with them.
 

werfie

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So what makes them this great. Compared to FNB? Serious question.

Not interested in fees/ebucks arguments. What else?

I would consider moving if convinced.
 

backstreetboy

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So what makes them this great. Compared to FNB? Serious question.

Not interested in fees/ebucks arguments. What else?

I would consider moving if convinced.
Why don't you open an account? It's only R5.50...
 

Ho3n3r

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So what makes them this great. Compared to FNB? Serious question.

Not interested in fees/ebucks arguments. What else?

I would consider moving if convinced.
Fees are 60% of the argument. If you don't want to hear it, doesn't make it any less valid.

Their customer service has been second to none, in my experience. Only bank I've ever been with where going to the branch doesn't feel like a major schlep. Don't even have to stand in a queue, just pure efficient ticketing system.
 

werfie

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Fees are 60% of the argument. If you don't want to hear it, doesn't make it any less valid.

Their customer service has been second to none, in my experience. Only bank I've ever been with where going to the branch doesn't feel like a major schlep. Don't even have to stand in a queue, just pure efficient ticketing system.
To me its irrelevant. I am not a price sensitive consumer. I couldn't care less what I am charged as long as my life is easier because of it.

I am more interested in stuff like service levels, features of the app, uptime, what all I can achieve without having to talk to a person on a phone or in a branch, NFC cards, electronic debit order reversals, how much control I have over limits such as credit cards and overdrafts, and so on.

So you have given me feedback one one area. Thanks.
 

Bryn

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14,911
So what makes them this great. Compared to FNB? Serious question.

Not interested in fees/ebucks arguments. What else?

I would consider moving if convinced.
Just off the top of my head, the things I love about Capitec:

- Very high level of security. Nobody is going to change your number or impersonate you.
- Using branches is a joy. You're either sitting down waiting to be called or sitting with a service agent (usually the latter). And the layout and design of their branches is modern and spacious.
- Simple, functional app.
- Really nice and quick call centre.
- They deal with disputes very quickly. An online store once charged me twice & Capitec took care of it within 24 hours.
- For me a big part of the appeal is their pleasant and professional demeanour. Staff are well trained and courteous. Call centre people actually get back to you, and pronto.
 

Ho3n3r

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To me its irrelevant. I am not a price sensitive consumer. I couldn't care less what I am charged as long as my life is easier because of it.

I am more interested in stuff like service levels, features of the app, uptime, what all I can achieve without having to talk to a person on a phone or in a branch, NFC cards, electronic debit order reversals, how much control I have over limits such as credit cards and overdrafts, and so on.

So you have given me feedback one one area. Thanks.
Yeah, their target market probably doesn't include rich snobs.
 

Rickster

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Jul 31, 2012
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Capitec was founded in 2001, why have they only came into the picture in recent years?
 

genelock

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May 25, 2017
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Why do people move over to Capitec?

What is SO attractive or beneficial for the individual that bank migration is the next step?
 

F1 Fan

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Nov 8, 2010
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To me its irrelevant. I am not a price sensitive consumer. I couldn't care less what I am charged as long as my life is easier because of it.

I am more interested in stuff like service levels, features of the app, uptime, what all I can achieve without having to talk to a person on a phone or in a branch, NFC cards, electronic debit order reversals, how much control I have over limits such as credit cards and overdrafts, and so on.

So you have given me feedback one one area. Thanks.
So FNB online functionality is easily the best in SA. However, their service is probably the worst in SA. Then again, there is a bank called ABSA.
 

DominionZA

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May 5, 2005
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8,274
Just off the top of my head, the things I love about Capitec:

- Very high level of security. Nobody is going to change your number or impersonate you.
- Using branches is a joy. You're either sitting down waiting to be called or sitting with a service agent (usually the latter). And the layout and design of their branches is modern and spacious.
- Simple, functional app.
- Really nice and quick call centre.
- They deal with disputes very quickly. An online store once charged me twice & Capitec took care of it within 24 hours.
- For me a big part of the appeal is their pleasant and professional demeanour. Staff are well trained and courteous. Call centre people actually get back to you, and pronto.
If I didn't know better, I would think you talking about FNB. Being serious.

Thankfully I have not tally tested their call centre. My stuff just does what I need it to, and 99% I can control online. Having to speak to an actual person at the bank is a bit foreign to me.

If Capitec had a business account, I might give them a try.
 

Bryn

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Oct 29, 2010
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14,911
If I didn't know better, I would think you talking about FNB. Being serious.

Thankfully I have not tally tested their call centre. My stuff just does what I need it to, and 99% I can control online. Having to speak to an actual person at the bank is a bit foreign to me.

If Capitec had a business account, I might give them a try.
One of the issues with FNB is a lack of consistency then. You may have a good time with them, but for me FNB gave the worst service of any bank I've been with. And the design of their internet banking is infuriating. Probably the only bank I'd never return to. My local branch has the worst bank staff ever to live probably.
 
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