Capitec reduces bank charges

I personally closed my money market account with FNB ages ago and moved all my savings to Capitec. Their basic savings account has got a better interest rate and lower charges than most money market accounts there. It's a no brainer to move to Capitec. I still use FNB for my cheque account and credit card facilities though.
 
akescpt said:
what do you mean by "free"?
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No monthly or yearly fee. Swipe it for free. Internet banking for free. Linked petrol card for free.

The only expenses you have on that card is interest if you are in the red and a petrol transaction fee each time you use it.

I put money into it every month and try not to go below R0 on it, and whenever I can pay for petrol with my Capitec card I do.

Just as an example, i got my VM card about 3 years ago and only started using it last year. I worried that it would have a negative balance as I never even put any money into it. Nope, R0 balance when I first checked.

No monthly fee, no yearly fee, no swipe fee :)

Edit: Don't draw cash on it, that is expensive. Also don;t use it for debit orders or internet transfers, not sure what the costs involved are. Do use it for online shopping, and maybe use it for petrol ;)
 
Species8472 said:
No monthly or yearly fee. Swipe it for free. Internet banking for free. Linked petrol card for free.

The only expenses you have on that card is interest if you are in the red and a petrol transaction fee each time you use it.

I put money into it every month and try not to go below R0 on it, and whenever I can pay for petrol with my Capitec card I do.

Just as an example, i got my VM card about 3 years ago and only started using it last year. I worried that it would have a negative balance as I never even put any money into it. Nope, R0 balance when I first checked.

No monthly fee, no yearly fee, no swipe fee :)

Edit: Don't draw cash on it, that is expensive. Also don;t use it for debit orders or internet transfers, not sure what the costs involved are. Do use it for online shopping, and maybe use it for petrol ;)
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Omgudness are we in narnia? A free card? How do I apply?
 
akescpt said:
How much is capitecs internet banking?
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Free.

Unlike @#$#@ ABSA that charge you ~ R20 per month on top of your R130 "all inclusive" profile. Not to mention the odd R5 and R10 "admin fee" they charge you every now and then.

With Capitec you do pay for every transaction, transfer and debit order, but overall it is much cheaper than the "all inclusive" options :)
 
Still a happy capitec client.
@akescpt, the IB is free.
Transactional details are on their site.
Just gotta pay R125 for the security dongle upfront.
 
Shake&Bake said:
Still a happy capitec client.
@akescpt, the IB is free.
Transactional details are on their site.
Just gotta pay R125 for the security dongle upfront.
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Julle maak my nou dink op a vrydag marrag! I can feel the winds of change blowing. Hmm I like it. Dankie mense. R50! Dongle like old school! Love it!
 
akescpt said:
Julle maak my nou dink op a vrydag marrag! I can feel the winds of change blowing. Hmm I like it. Dankie mense. R50! Dongle like old school! Love it!
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Yep. No simswaps to steal your OTP and whatever...

And wow, have we ever heard of a bank dropping charges? Keeping them the same for a extended period yes but dropping them?

Anyway, been with Capitec like 4 years now and no problem at all. Swipping the card is free.

And also have the Virgin Money credit card, its free. Except when you are in credit and after the 55days you start paying interest, and the R10 withdrawal fee (international or locally, same fee)
 
Been using Capitec for 2 years now for everything. Moved away from ABSA after using them for 10 years. Will never go back to ABSA, even if someone pointed a gun at me.
 
How is it possible that Capitec can keep their fees so low? Is there a catch somewhere?
 
Species8472 said:
Free.

Unlike @#$#@ ABSA that charge you ~ R20 per month on top of your R130 "all inclusive" profile. Not to mention the odd R5 and R10 "admin fee" they charge you every now and then.

With Capitec you do pay for every transaction, transfer and debit order, but overall it is much cheaper than the "all inclusive" options :)
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As above, but also remember you need to register/purchase a dongle to access Internet Banking. AFAIK it's mandatory and it's about R50 (last I checked).
 
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