With FNB's proposed price increases ( http://mybroadband.co.za/vb/showthread.php/438001-Is-FNB-losing-the-plot ), and with their new ATM limitation. I am reconsidering my student account with them. I use my student account only a few times per month to swipe at shops and to pay online via EFT.
I was thinking of signing up for Standard Bank's student achiever account and for a Capitec bank account. With the SB account, I get a real Cheque card, unlike FNB, which I can use for online payments. And the first 4 ATM deposits are free, unlike FNB. Then I can transfer some of the money to my Capitec account and use that for swiping etc. The Capitec account will give me more interest compared to what I am currently losing in my FNB account. So I will effectively be paying no bank charges, or much less than I am currently paying for FNB. At Capitec I will be getting almost twice the interest I am getting from FNB's 32 day interest account and I don't have to wait to access my money.
The problem is, is all the crap to actually close my accounts at FNB. Or I can maybe open a Mzansi or Smart account with no monthly fee with them, and then only close my student account, if that is possible.
But, if I go with this plan, then I will be getting some money from the bank, rather than just paying. After I am no longer a student, I will probably close my SB account and re-evaluate what is the best offer, for my needs.
So what do you think would be the easiest way of going about doing this. Or if you have any better ideas.
I was thinking of signing up for Standard Bank's student achiever account and for a Capitec bank account. With the SB account, I get a real Cheque card, unlike FNB, which I can use for online payments. And the first 4 ATM deposits are free, unlike FNB. Then I can transfer some of the money to my Capitec account and use that for swiping etc. The Capitec account will give me more interest compared to what I am currently losing in my FNB account. So I will effectively be paying no bank charges, or much less than I am currently paying for FNB. At Capitec I will be getting almost twice the interest I am getting from FNB's 32 day interest account and I don't have to wait to access my money.
The problem is, is all the crap to actually close my accounts at FNB. Or I can maybe open a Mzansi or Smart account with no monthly fee with them, and then only close my student account, if that is possible.
But, if I go with this plan, then I will be getting some money from the bank, rather than just paying. After I am no longer a student, I will probably close my SB account and re-evaluate what is the best offer, for my needs.
So what do you think would be the easiest way of going about doing this. Or if you have any better ideas.