Capitec starts Sunday banking

[cheese_za]

It is great for people who want to use it, but for me, online banking is all I need, that and ATM deposits. The last couple of times I went into a bank was to collect new cards. I am even able to upgrade/change my accounts online, apply for new accounts online and increase/decrease overdraft & credit card limits online, and I have actually done all those things and it worked!

 

[Zenbaas]

Ran a workshop a couple of weeks ago and a few of the delegates were from ABSA, they said that ABSA is viewing Capitec as a serious threat.

I honestly do not think that absa could care less. That is pretty much their approach to everything.

 

[TheOracle]

Ran a workshop a couple of weeks ago and a few of the delegates were from ABSA, they said that ABSA is viewing Capitec as a serious threat.

I think most bank would be a thread to ABSA, except maybe Standard Bank.

 

[Quest10n]

Moved to capitec a few month back and really happy that i did. As far as bank cost they beat the big banks by a mile not to mention the interest rates they offer. Really happy with them being open on a Sunday as long as it does not result in exorbitant bank increases.

Well they didn't increase their banking fees for 2011 so expect an increase for 2012.

 

[SinghDude]

Capitec is really delivering to all stakeholders. Anybody looked at Capitec's share price recently....could have made a killing !!!!!

 

[grapgat]

Interresting.. Capitec is doing with banking what Cell C did with broadband.

What, they are going to be awesome for 3 weeks, and then have a product that is ridiculously slow, and stops working for 1 minute every 10 minutes.
Offtopic, but Cell C's speedstick is the biggest load of crap, and i have 4 friends who have the same issues. Stay away...

 

[Bismuth]

What, they are going to be awesome for 3 weeks, and then have a product that is ridiculously slow, and stops working for 1 minute every 10 minutes.
Offtopic, but Cell C's speedstick is the biggest load of crap, and i have 4 friends who have the same issues. Stay away...

Funny that, me and 4 friends couldn't be happier with Cell C's whooooosh, and the same goes for those that are with Capitec.

B

 

[jasonbot]

So what's the catch with capitec then?

 

[emptybruwer]

There isn't. Its not a business bank.it focusses on the individual. So there products are less they dont do credit cards and only savings acc.realy cheap i must say i am glad i changed to them.

 

[BCR]

Capitec is really delivering to all stakeholders. Anybody looked at Capitec's share price recently....could have made a killing !!!!!

The share price is high & rose very quickly at one stage, but now is stuck between R168 & about R175 - been like this for a number of months, like most of the market.

 

[Milano]

Unsure whether ABSA in still in the actual banking sector. When a bank rejects a blue-chip credit application, I begin to grow concerned. Even more so when I call FNB which approves the same request within fifteen minutes. I would be glad to move my accounts away from ABSA if it was a one-click process, too complicated. Understandably ABSA's core business does seem to be politics. Enjoyed reading news of retrenchments heading ABSA's way soon

 

[gordons]

I wonder will other industries follow like Government........make South Africa a 24-hour service country with a smile.

Imagine having to visit a Home Affairs on a Sunday afternoon to apply for a passport and receive it within 15 minutes....Imagine that!!

 

[Bismuth]

I wonder will other industries follow like Government........make South Africa a 24-hour service country with a smile.

Imagine having to visit a Home Affairs on a Sunday afternoon to apply for a passport and receive it within 15 minutes....Imagine that!!

Heck, even under the "previous regime", it took 3 working days to get my first passport. Would be happy if they could do that now, even.

B

 

[phiber]

Publicity stunt.

 

[CyraxHB]

Capitec is not much of a threat to the big banks, at least not yet. Capitec targets a segment of the population that the other banks don't really want due to risk and low returns.

But as the SA market is getting more and more competitive, banks will have to start competing for that segment.

 

[ColinR]

Capitec targets a segment of the population that the other banks don't really want due to risk and low returns.

I disagree, Capitec targets anyone who doesn't want to be ripped off, and who is proactive enough to do something about it. The fact that "a segment of the population" banks there is simply due to the low cost.

 

[CyraxHB]

I disagree, Capitec targets anyone who doesn't want to be ripped off, and who is proactive enough to do something about it. The fact that "a segment of the population" banks there is simply due to the low cost.

Capitecs low cost attracts low income customers with a few higher income ones trying to lower their bank costs.

I work for one of the big 4 banks and the policy is that we won't touch those customers with 20 foot barge pole. Lending money to low income people is risky and due to their low income, generate very little for the bank in terms of fees.

 

[supersunbird]

Capitecs low cost attracts low income customers with a few higher income ones trying to lower their bank costs.

I work for one of the big 4 banks and the policy is that we won't touch those customers with 20 foot barge pole. Lending money to low income people is risky and due to their low income, generate very little for the bank in terms of fees.

Well, we who bank with Capitec don't want to touch the Big 4 (except MAYBE FNB) with a 30 foot barge pole. I have a homeloan, 2 vehicle loans and a nice income so if thats low income, then I don't want to know what middle income is, and I have assisted quite a few of my friends to move to Capitec (or sometimes FNB) after being ripped off by the other banks (especially ABSA).

 

[Arko2]

I moved to Capitec , I'm happy I did. Since April so only 6 weeks with Capitec. I'm a Pensioner and Std Bank charged me R700 last
month on Fees. I've been with STd Bank for 40 Years. That is daylight robbery. The only problem with Capitec is Foreign money.
I'm getting also a Pension from OS so I need one of the big four.Next month I'll be closing all accounts with them. During the six
weeks I earned money at Capitec zero fees, what is R 4.50 for a monthly fee? I also got a Virgin Credit Card no fees. So are many
others moving to Capitec. Internet Banking at no costs with Capitec. Only a once off R 125 for their Token. Very good.

 

[McSack]

Capitecs low cost attracts low income customers with a few higher income ones trying to lower their bank costs.

I work for one of the big 4 banks and the policy is that we won't touch those customers with 20 foot barge pole. Lending money to low income people is risky and due to their low income, generate very little for the bank in terms of fees.

That's rich coming from companies that recently went out of their way to launch products specifically targeting these very same low income people.
It's this exact arrogant attitude that is the cause of general customer unhappiness with the big 4 banks. I work with all of the big 4 and without exception they have all identified the growth of Capitec as one of their major challenges