Gold Cheque Account: ABSA vs FNB

RazedInBlack

RazedInBlack
Joined
Sep 4, 2008
Messages
36,590
I bank with ABSA and being an account holder for the better part of almost 15 years I expected smooth-no-problem application for a cheque account. Not so! :mad:

I likened the consultant to a detective with the amount of questions he asked. He draws my bank statement and goes over it with a fine-toothed comb asking more questions as he goes down line for line on the statement.

Then he checks my payslip . . . more questions. I smile as I answer them without hesitation. Then he says, "Sorry, you have to bring in 6 months worth of payslips" for him to continue the application as to judge the correct gross income or average.

Fine.

Off to FNB. Handed in all the relevant FICA documents. The whole process took 10 to 15 minutes. Done!

ABSA Gold Cheque Account: R139 p/month. All bank charges inclusive. Thats it!

FNB Gold Cheque Account: R90 p/month. All bank charges inclusive.
You get:
Dedicated call centre for all Gold Cheque account holders
eBucks
Paypal account
Internet banking
Cellphone banking
InContact
PrevX Secure browsing (for internet banking)
Chip and Pin card (for secure transacting)
Fuel Rewards: 15% back on your fuel purchases when using your FNB Cheque card.

As you can see FNB is miles ahead of ABSA in terms of security and service.

I closed my ABSA account today. :twisted:
 

Dolby

Honorary Master
Joined
Jan 31, 2005
Messages
28,619
I had an bank accounts and cards everwhere (I accepted every offer at one stage ;) and decided to select ONE bank as my bank.

Of my credit cards, my ABSA was platinum and offered the best limit - so I thought I could simply get a platinum cheque account, hop onto the package and it'd be a decent priced package.

Had the same as you with regards to questions and interogations ... And in the end, they wouldn't give me the card :/

Went to my 2nd bank (FNB) and no issues whatsoever. As you say, pricing is better, service is better and security is better.

My ABSA card had about 3 cases of fraud within 6 months or something. Although I haven't closed it - I haven't even collected the new card and it sits a few hundred positive.
 

Bosvark@

Expert Member
Joined
Sep 30, 2009
Messages
2,252
FNB rocks. I have a Woolworths card via ABSA and what a mess! My FNB accounts - including ones for my kids - are always opened smoothly and no problems. ABSA is written off and burried in my mind... wont be returning there soon.

If I remember correctly there was a banking survey a few months back and ABSA cam out as the most expensive - also seemingly the poorest service.

(Found some of it - http://www.fin24.com/Business/Solidarity-Standard-Absa-most-expensive-20101102)

http://www.fin24.com/Companies/Solidarity-ditches-Absa-20101103

http://www.citypress.co.za/Business/News/Standard-Absa-most-expensive-banks-Solidarity-20101102
 

BigAl-sa

Executive Member
Joined
Dec 26, 2006
Messages
6,652
I bank with ABSA and being an account holder for the better part of almost 15 years I expected smooth-no-problem application for a cheque account. Not so! :mad:

[snip]

Your experience with Absa sounds exactly like my experience with FNB when I moved from FNB to Absa 15 years back...
 

bwana

MyBroadband
Super Moderator
Joined
Feb 23, 2005
Messages
83,224
Your experience with Absa sounds exactly like my experience with FNB when I moved from FNB to Absa 15 years back...
Perhaps the tides have changed. Even though they're all a wunch of bankers I'm as happy with FNB as I could expect to be.
 

TowerGuru

Expert Member
Joined
Apr 2, 2006
Messages
2,297
I bank with ABSA and being an account holder for the better part of almost 15 years I expected smooth-no-problem application for a cheque account. Not so! :mad:

I likened the consultant to a detective with the amount of questions he asked. He draws my bank statement and goes over it with a fine-toothed comb asking more questions as he goes down line for line on the statement.

Then he checks my payslip . . . more questions. I smile as I answer them without hesitation. Then he says, "Sorry, you have to bring in 6 months worth of payslips" for him to continue the application as to judge the correct gross income or average.

Fine.

Off to FNB. Handed in all the relevant FICA documents. The whole process took 10 to 15 minutes. Done!

ABSA Gold Cheque Account: R139 p/month. All bank charges inclusive. Thats it!

FNB Gold Cheque Account: R90 p/month. All bank charges inclusive.
You get:
Dedicated call centre for all Gold Cheque account holders
eBucks
Paypal account
Internet banking
Cellphone banking
InContact
PrevX Secure browsing (for internet banking)
Chip and Pin card (for secure transacting)
Fuel Rewards: 15% back on your fuel purchases when using your FNB Cheque card.

As you can see FNB is miles ahead of ABSA in terms of security and service.

I closed my ABSA account today. :twisted:

Which is exactly why im with FNB. when i upgraded my student account to a gold cheque account, it was done OVER THE PHONE and the card was COURIERED TO MY DOOR. i have had nothing but good service from them.
 

w1z4rd

Karmic Sangoma
Joined
Jan 17, 2005
Messages
49,425
I left ABSA, really do not approve of how they manage their business.
 

satanboy

Psychonaut seven
Joined
Sep 13, 2007
Messages
98,815
I have a Platinum account (with private banker) with Absa so most of my issues are sorted out painlessly.

BUT I have heard so many good things about FNB (service and charges) that I decided to take the BIG step and try and move my BOND account there. HUGE mistake. The idiots took my current Bond payments as an expense so they were only willing to give me a Bond LESS than I currently owed! I pointed out their error the clerk ignored me, I sent a complaint to the manager, they ignored me.

A week later Absa contacted me out of the blue and offered to almost double my current bond. All paperwork was done electronically (except the signing at the attorneys of course).

My conclusion is that all banks have their problems...it is the luck of the draw.
 

RVQ

Expert Member
Joined
Apr 30, 2007
Messages
2,115
ABSA are completely useless. The charges are the highest and the offer no value add. Opened my FNB account earlier this month and in the process of switching over, going to get my whole family to move over...
 

guest2013-1

guest
Joined
Aug 22, 2003
Messages
19,800
FNB FNB FNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNBFNB FNB

AVOID ABSA LIKE THE PLAGUE
 

diabolus

Executive Member
Joined
Feb 4, 2005
Messages
6,306
I have both, and FNB is by far cheaper and got more services. I play the Lotto quite often [can play Lotto and Powerball directly without ever going to the store] .

I suppose if ever got too upset with ABSA i'll also just switch over, my main reason i'm still with ABSA is because i have 2 credit cards with them with good limits and i'm just not in the mood vir all the paperwork to get new credit cards from FNB.

But yea, ultimately FNB Cheque definitely offer more "Bells and Whistles" for a much lower price than ABSA . In fact i pay like R20 a month fixed fees and then i pay for every transaction, and even that is still cheaper than my ABSA account where everything is supposedly included in their platinum deal [but it is not] .
 

RVQ

Expert Member
Joined
Apr 30, 2007
Messages
2,115
I have both, and FNB is by far cheaper and got more services. I play the Lotto quite often [can play Lotto and Powerball directly without ever going to the store] .

I suppose if ever got too upset with ABSA i'll also just switch over, my main reason i'm still with ABSA is because i have 2 credit cards with them with good limits and i'm just not in the mood vir all the paperwork to get new credit cards from FNB.

But yea, ultimately FNB Cheque definitely offer more "Bells and Whistles" for a much lower price than ABSA . In fact i pay like R20 a month fixed fees and then i pay for every transaction, and even that is still cheaper than my ABSA account where everything is supposedly included in their platinum deal [but it is not] .

FNB actually amazing you can apply online and you probably can do it on internet banking without needing to send through anything...
 

Dolby

Honorary Master
Joined
Jan 31, 2005
Messages
28,619
ABSA try to be hard assed and lose out.

If they'd given me a cheque card, all transactions, debit orders etc would go off it. I'd use the credit card once again and in 6 months when I get a home load, it'd be through them. When it came to a vehicle loan, again they'd be the 1st I'd try.

Now that I'm fully with FNB, I use most their products and services.

Very short sighted on ABSAs part. Standard Bank are the same though :/
 

Billy

Expert Member
Joined
Feb 8, 2004
Messages
3,684
I moved to FNB 3 years ago after more than 30 years with Standard. I have a bond (ABSA offered the best interest rate), savings and credit card with ABSA. I also have a business account with Standard. Of the three banks, FNB has the best web site followed by Standard. FNB has by far the best features and is the cheapest.

I have the savings account at ABSA so that I can access the bond account and also have the credit card. When overseas I have found it better to have both Mastercard and Visa. This is sometimes a factor with online purchases also.

I intend moving the business account to FNB in the new year.
 

Timken

Well-Known Member
Joined
Aug 4, 2008
Messages
341
Touch wood, i have not had any hassles with absa.

As for expensive, you just need to know how to pick the package.

I got a silver cheque acc. R99 per month gets me:
25 free swipes with my card
Free internet banking
Free phone banking
I m sure there are other benefits, i just dont use them.

Package i m on is a managed fee package, absa doesnt advertise it, u gotta ask for it.

Sent from my Vodafone 845 using MyBroadband Android App
 

RVQ

Expert Member
Joined
Apr 30, 2007
Messages
2,115
Touch wood, i have not had any hassles with absa.

As for expensive, you just need to know how to pick the package.

I got a silver cheque acc. R99 per month gets me:
25 free swipes with my card
Free internet banking
Free phone banking
I m sure there are other benefits, i just dont use them.

Package i m on is a managed fee package, absa doesnt advertise it, u gotta ask for it.

Sent from my Vodafone 845 using MyBroadband Android App

Stand to be corrected but for R85 FNB gives you a silver cheque account with unlimited swipes and u can earn ebuck.

Mmm, I think I should move to FNB Sales...
 

RazedInBlack

RazedInBlack
Joined
Sep 4, 2008
Messages
36,590
Its not that I had endless problems with ABSA its just that FNB has got such a lot going for it and for cheaper.

Why I didn't move over sooner, that is a mystery.
 

guest2013-1

guest
Joined
Aug 22, 2003
Messages
19,800
. . . but that was 15 years back hey? Lol!

99% of the people I know grew up with Volkskas. Their parents were with them and so on and so forth. ABSA took over and most didn't bother to switch. I'm glad that some of them have "seen the light" by now... took several ****ups, several HUNDRED hours of wasted time arguing with the bank about **** that should have been done _correctly_ the first time (you'd think that you being the customer means YOU are right...right? wrong!)... but they all fall... slowly but surely
 
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