Capitec VS FNB thread

I've always been with Capitec and recently switched to FNB to get better rates on my homeloan.

Capitec internationally is wonderful. I've used my Capitec card in the UK and Portugal with zero hassle.

The only real use for their cards where we've had issues is toll gates. Get an e-tag and avoid the tollgate hassles altogether.

I wont go into the security details, but Capitec's App and their cards are very secure. Sure payment online isn't always seamless as you need to work through MasterPass, but its not a big deal either.

For those of you concerned about branch visits, do yourself a favour and have a look at the length of the queues. Its never taken me more than 40 mins to finish what I need to do at a branch, from the moment I walk in to the moment I walk out. Some people take longer to get groceries. What I really appreciate about Capitec is that getting statements is always free, for any period. I frequently download my account history to manually track my budget. I also really enjoyed the budget tracking function in the app.

I like FNB. I like the way I can interact with their staff. I like the value added services they provide through the app, and I think ebucks is a great rewards programme... or it was before this year's update.

There are 2 things I'm really having a hard time swallowing with FNB though.

With respect to maintaining a minimum balance on the check account, at 50k it gives you roughly a 5% annual through the banking fee waiver. Thats pointless. If they could have this policy stand with money in a linked savings account it would be a different matter.

Many of the ebucks things arent rewards for good banking/spending habbits. You have to go out of your way to set up your transactions in such a way that you'll get points needed to raise levels (at least on FNB premier). If I want to make my banking fees back through ebucks I'm also limited to their partners. If you drive a Diesel car you'll appreciate that not all vendors are equal. I get that this is how most rewards programmes run, but it does make things... inconvenient.

Edit: Just to clarify the 5% is equivalent on the current monthly fee of R209 on the premier bundle. There is 0 real interest on their check account.
 
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Friend recently moving away from Nedbank.
OTP only via SMS, so pretty much useless for him as he's out of country 2/3 months.

Think he's moving to FNB, but not yet decided if Capitec would be better for him as most of the rewards would be useless/not usable.
 
MysticBoer27 said:
There are 2 things I'm really having a hard time swallowing with FNB though.

With respect to maintaining a minimum balance on the check account, at 50k it gives you roughly a 5% annual through the banking fee waiver. Thats pointless. If they could have this policy stand with money in a linked savings account it would be a different matter.
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I used to have FNB gold account with "free" fees on that R50k balance, as well as my Capitec card. I switched to an FNB pay as you use Easy account and that freed up the R50k (you get a linked savings account with the Easy account that is at c.5-6% interest) so now it's very comparable with Capitec.
I've retained the FNB account instead of switching because of home loans, tfsa and share accounts, but perhaps those will move to other providers in time. I've been happy with the FNB easy, but I did lose out on their Global account option if you use that.
Also, not sure what it does to Ebucks but I've never used those being on Discovery spending instead.

That 5% on the R50k makes a difference that could justify changing your FNB profile.
 
backstreetboy said:
Not the case anymore (being with a bank x number of years and getting a better rate). They've also partnered with SA homeloans anyway.
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It all depends what your banking profile (internal banking score is), and then what is the banks appetite in the current conditions

Who is still using MO these days ?
 
hj007 said:
I used to have FNB gold account with "free" fees on that R50k balance, as well as my Capitec card. I switched to an FNB pay as you use Easy account and that freed up the R50k (you get a linked savings account with the Easy account that is at c.5-6% interest) so now it's very comparable with Capitec.
I've retained the FNB account instead of switching because of home loans, tfsa and share accounts, but perhaps those will move to other providers in time. I've been happy with the FNB easy, but I did lose out on their Global account option if you use that.
Also, not sure what it does to Ebucks but I've never used those being on Discovery spending instead.

That 5% on the R50k makes a difference that could justify changing your FNB profile.
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If you think out of the box and do the sums (with a bond you can get interest of 10% without fees).

I was on the fee saver for more than a decade + 5 years. Recently changed because why settle for 5% when you can get 10%, its just common sense
 
MysticBoer27 said:
For those of you concerned about branch visits, do yourself a favour and have a look at the length of the queues. Its never taken me more than 40 mins to finish what I need to do at a branch, from the moment I walk in to the moment I walk out. .
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FNB customer here: what's a branch? Like on a tree?
 
Moved from ABSA to FNB and couldn't be happier and those ebuck (loads of them) are awesome! When I get almost R200 a tank back of petrol cant help but smile (amongst other benefits)...
 
Ebucks rewards are really quite pathetic. To jump through countless hoops and spend this here and that there just to go up a level makes no sense. On level 3, you only get 75c back for each litre of fuel and at Engen only.

If it weren't for my homeloan with them, I'd tell them to get knotted.
 
McT said:
Ebucks rewards are really quite pathetic. To jump through countless hoops and spend this here and that there just to go up a level makes no sense. On level 3, you only get 75c back for each litre of fuel and at Engen only.

If it weren't for my homeloan with them, I'd tell them to get knotted.
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I easily get over R1000 (on a bad month) worth of ebucks. Pathetic I think not and the "hoops" are really not an issue or that difficult.

You are seriously missing out if you don't try and hit T5 and get the big money back...
 
McT said:
Ebucks rewards are really quite pathetic. To jump through countless hoops and spend this here and that there just to go up a level makes no sense. On level 3, you only get 75c back for each litre of fuel and at Engen only.

If it weren't for my homeloan with them, I'd tell them to get knotted.
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Oh, they (ebucks) were great, for a year, now they are indeed pretty meh.
 
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Snyper564 said:
I easily get over R1000 (on a bad month) worth of ebucks. Pathetic I think not and the "hoops" are really not an issue or that difficult.

You are seriously missing out if you don't try and hit T5 and get the big money back...
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I hear what you're saying. But if I am not getting back on my current spend pattern, then it's not going to happen.
 
Snyper564 said:
I easily get over R1000 (on a bad month) worth of ebucks. Pathetic I think not and the "hoops" are really not an issue or that difficult.

You are seriously missing out if you don't try and hit T5 and get the big money back...
Click to expand...
Any links to prior posts where you break it down?
 
hj007 said:
That 5% on the R50k makes a difference that could justify changing your FNB profile.
Click to expand...

Just to clarify the 5% is equivalent on the current monthly fee of R209 on the premier bundle. There is 0 real interest on their check account.
 
Snyper564 said:
Just bill payments at checkers and petrol take me to R800. The rest is from CC swipes...
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I'm not a fan of manual bill payments... Most things get stop orders, some debit orders are set up as well. (Not a huge fan of those) (If I need to manually pay bills they won't get paid)

Does FNB have any fuel providers that have 10 ppm Diesel available? (for earning eBucks at)
 
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