Cheque/Current account whats the benefit

J

joker247

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Can anyone explain what the benefit is of having a cheque account vs having a normal transactional account like in Capitec Global one account. I have been with FNB for many years and am currently on an FNB Aspire cheque account. I recently noticed a whole lot of fees for EFTs to other banks and a payments bundle which I was never paying for before over and above the R120 monthly fee. Apparently FNB changed the features of this account charging more for certain transactions like EFTs to other banks in July this year. I did not receive any communication about this. All I need is to be able to make monthly payments(online), eft transactions swipe my card at point of sales devices and withdraw money occasionally. Why do I need a current account with a monthly fee which is now around R170 a month if I add all the new out of bundle charges?
 
There’s no difference, these things are all the same.

And you were certainly informed about the FNB pricing changes as was everyone else but you probably ignored it or skimmed through it missing the finer details.
 
It was part of the new rules, that went live. You did get an email about newly updated fees, I am sure
 
AFAIK FNB sun-setted cheques back in December 2020.
 
FNB is just greedy change to any other Bank. Tymebank is cheap if you are looking for value.
 
zerocool2009 said:
It was part of the new rules, that went live. You did get an email about newly updated fees, I am sure
Click to expand...
I most probably did but didnt read the fine print just assuming its the monthly fee going up not the bundled transactions like eft to other banks that were not charged for before that are now getting charged for.
 
Cheque account usually includes an overdraft that Capitec doesn’t but you can just get a Capitec Credit card anyway. Vote with your wallet and move.
 
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