Changing to Capitec

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JBenci

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Im considering changing to Capitec from a FNB platinum account to save money.

I primarily pay with debit card either in person or online.
I have a few debit orders and occasionally EFT other people. Using their online cost estimate calculator I should be paying about R80 per month. FNB is R210.

Am I making a mistake?
 
JBenci said:
Im considering changing to Capitec from a FNB platinum account to save money.

I primarily pay with debit card either in person or online.
I have a few debit orders and occasionally EFT other people. Using their online cost estimate calculator I should be paying about R80 per month. FNB is R210.

Am I making a mistake?
Click to expand...

Yes you can make more than R210 back in ebucks so you could be banking for free. Remember capitec also charges for each sms you receive when money goes out and in on your account.
 
Gtx Gaming said:
Yes you can make more than R210 back in ebucks so you could be banking for free. Remember capitec also charges for each sms you receive when money goes out and in on your account.
Click to expand...

Highlighted in Bold. Trust me, they really do work for a lot of people, including me.
 
The only benefit I can think off on FNB is the ability to play lotto, and to pay for using the bank to get a Smart ID or renew passports (one can't do that with Capitec), but one can do that even with an Easy account.
 
The amount of ebucks I get is pitiful and yet I almost exclusively use my fnb debit card to pay.
 
supersunbird said:
The only benefit I can think off on FNB is the ability to play lotto, and to pay for using the bank to get a Smart ID or renew passports (one can't do that with Capitec), but one can do that even with an Easy account.
Click to expand...

Can also renew car licence on the app and have delivered to your door.
 
JBenci said:
Im considering changing to Capitec from a FNB platinum account to save money.

I primarily pay with debit card either in person or online.
I have a few debit orders and occasionally EFT other people. Using their online cost estimate calculator I should be paying about R80 per month. FNB is R210.

Am I making a mistake?
Click to expand...

After moving to Capitec from FNB a few years back, my monthly fees went from R170-R190 a month (at FNB) down to R45-R55 per month at Capitec (even after SMS's for transactions). I am not interested in jumping through hoops to earn Ebucks so I don't miss anything there and the interest I earn more than covers my banking fees. And the best thing of all is when on the odd occasion I have to go into the bank I don't have to wait very long to see a consultant. Also they open until 6pm and Sundays until 2pm (I think).
Also there is not sim swap excuses from Capitec.
 
JBenci said:
Im considering changing to Capitec from a FNB platinum account to save money.

I primarily pay with debit card either in person or online.
I have a few debit orders and occasionally EFT other people. Using their online cost estimate calculator I should be paying about R80 per month. FNB is R210.

Am I making a mistake?
Click to expand...

It takes like 10 minutes to open an account and then you can test things for a month or two.
 
No mistake moving to Capitec. Depending on the amount you will be getting back from eBucks, it may not be worth staying on FNB - it certainly wasn't worth it for me.

And on Capitec, my interest is about R60-70 per month, which is usually higher than all my banking costs, so banking is essentially free. Been with them since 2011, never considered moving back to anything else.

EDIT: Only issue with debit card from Capitec, is paying for stuff that requires a recurring payment, i.e. Cell C black etc., but once-off purchases are fine, i.e. Amazon, Steam games, even Netflix works.
 
My move funded itself due to the higher interest I received at Capitec. Still have an FNB easy account for now post the downgrade. Also, I never used Ebucks because of Discovery that gave rewards more suited to me. But perhaps you should maximize the eBucks if you aren't already, otherwise just have both and see how it affects you over time.. the Capitec account is super cheap to maintain...
 
Ho3n3r said:
EDIT: Only issue with debit card from Capitec, is paying for stuff that requires a recurring payment, i.e. Cell C black etc., but once-off purchases are fine, i.e. Amazon, Steam games, even Netflix works.
Click to expand...

Can you elaborate on this about recurring payments?
 
JBenci said:
The amount of ebucks I get is pitiful and yet I almost exclusively use my fnb debit card to pay.
Click to expand...
The mistake is you were using debit card and FNB is not rewarding debit card usage but rather credit card usage the difference in earning between them is huge
 
citizensa said:
The mistake is you were using debit card and FNB is not rewarding debit card usage but rather credit card usage the difference in earning between them is huge
Click to expand...

SB ucount works pretty much the same. I use my credit card for everything instead of the debit card.
 
+1 to the list of happy Capitec customers who's interest earned is more than total fees every month

can't be bothered with reward programs, give me cold hard cash that's accepted everywhere thx
 
JBenci said:
Can you elaborate on this about recurring payments?
Click to expand...

It's as he says. Many recurring payments are blocked on Capitec cards. The first time it happened to me was with a PayPal transaction, and one of the PayPal service agents told me about it on the phone. I asked if it's a common limitation and he said he wasn't aware of any other bank that imposed it.

One of the reasons I only really use my FNB card these days. Just ridiculous to restrict a card like that, and at a time when subscriptions like Spotify are usually preferred to once-off purchases.
 
You will experience hefty banking fees if you keep doing what banks don’t want you to
Do, e.g drawing money at the ATM, depositing at the teller.

2 years back when I opened my FNB Cheque account I used to pay R400-R600 pm for banking fees, I only realized a year late that I have been banking wrong. Now I only pay about R105pm and get R600 to R900 back in Ebucks. So I am a happy man.
 
Bryn said:
It's as he says. Many recurring payments are blocked on Capitec cards. The first time it happened to me was with a PayPal transaction, and one of the PayPal service agents told me about it on the phone. I asked if it's a common limitation and he said he wasn't aware of any other bank that imposed it.

One of the reasons I only really use my FNB card these days. Just ridiculous to restrict a card like that, and at a time when subscriptions like Spotify are usually preferred to once-off purchases.
Click to expand...
Spotify, Deezer and Netflix works for me. I must try Cell C black based on https://mybroadband.co.za/vb/showthread.php/964761-Unable-to-Unsubscribe-to-Black-emails but non of their packages tickles my fancy.
 
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