Gold Cheque Account: ABSA vs FNB

RazedInBlack

RazedInBlack
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Sep 4, 2008
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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

It was Volkskas, United and NBS that amalgamated. I could be wrong but I get what you're saying.
 

KleinBoontjie

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I moved 6 months ago after being with absa for almost all my life. FNB is the best.
 

Mobus

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Apr 5, 2007
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*dusts off an old thread*

I moved to FNB after being with ABSA almost 20 years. FNB offered me the best homeloan rates, and an even better rate on the condition that I move my current account to FNB. FNB is cheaper and offer a few more perks (eBuck$ FTW), specifically when comparing the silver, gold and platinum "unlimited" package deals between the two banks. I'm very happy with FNB, but ABSA wasn't bad either. A few things to remember:
1) ABSA's packages include a free creditcard, but with FNB you pay a monthly credit card fee.
2) ABSA has a lot more ATMs country wide. That said, cash is dead.

As of July 2011:
ABSA Gold cheque + credit = R150pm, 35 transactions (-R25pm with a new ABSA homeloan)
FNB Gold cheque + credit = R92 + 24 = R116pm, unlimited transaction

ABSA Platinum cheque + credit = R180, unlimited transaction (-R25pm with a new ABSA homeloan) +international lounge access
FNB cheque + credit = R110 + 47 = R157, unlimited transaction +national SlowLounge access only
 

wizdumb

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Sep 27, 2006
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2,165
this thread is making want to transfer my account from absa to fnb, specially seeing the savings on the monthly fees...

...does fnb still transfer all one's debit orders and salary? what docs will i need to open a gold savings accounts
 

Geriatrix

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Nov 22, 2005
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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
+1 QFT
 

mister

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Jul 21, 2008
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this thread is making want to transfer my account from absa to fnb, specially seeing the savings on the monthly fees...
..does fnb still transfer all one's debit orders and salary? what docs will i need to open a gold savings accounts

yes they will transfer debit orders and salary. Apply online at www.fnb.co.za, it took 2 seconds to approve my account (gold cheque) and sms me the account number. card was couriered and the courier collected my id and proof of address.

thats it :D
 

RanzB

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Jul 4, 2007
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28,833
2) ABSA has a lot more ATMs country wide. That said, cash is dead.

Indeed. I find myself using less and less cash, and the only time I have cash is when a bunch of us go out and everyone pays with cash, I take the cash and swipe my card. The ease of using the card combined with the rewards I get for using it means I hardly go to the ATM any more.
 

nakedpeanut

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Dec 18, 2009
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Moved from STD to FNB at the beginning of this year.. Love FNB's online banking, so smooth and intuitive to use!
 

mcryan

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Sep 25, 2008
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With a few banks, but FNB are by far the best for me. Going to be moving all of my accounts to them.
 

Paul_S

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Jun 4, 2006
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I've been at Standard Bank my whole life but would like to switch to Capitec or FNB primarily to lower my banking costs.
FNB's Gold Cheque Account (Unlimited Option) looks like a good deal but on closer inspection there are a few things that I'm not too happy about.

1. If you withdraw cash from a non-FNB ATM you will be charged R32.00 for the 2nd transaction in a 12 month period :wtf:
Not even Standard charge me such an insane fee to use another bank's ATM.
FNB ATM's are few and far between compared to Standard and ABSA so I'll have to go out of my way to find them.

2. Provisional Statements (Branch and Telephone Banking) cost R7.50 per page
So if you need a 3 or 6 month bank certified statement be prepared to cough up some serious money.

3. The maximum interest on the Gold Savings Pocket linked to a Gold Cheque account is 2.30% for R100 000+
The better option is to go for the cheaper Smart Cheque Account with the Smart Savings Pocket which offers 3.90% on all balances (was 4.90% last year).
Now that makes no sense to me. Why does the cheaper account earn better interest rates? So much for Gold being better.
Capitec offer 4.75% for R10000+ on their standard transaction account and 6% up to R10000 so I'd rather bank at FNB and save at Capitec.


FNB Cheque Account fees: http://www.fnbweb.co.za/cbs/pricingguide/Personal/Personal_e.asp
FNB rates: https://www.fnb.co.za/rates/cRatesList.html
 
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RustyPrincess

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Mar 17, 2009
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I also love FNB. The benefits (ebucks, SLOW lounge, free internet and cellphone banking, free sms notifications) far outway any of those of other banks. I also have a personal banker, so any issues, I just email him - sorted out chop chop. And you can apply for new accounts online (and order FOREX online) - my ideal way of doing anything
 

hashbrown99

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Jun 10, 2006
Messages
2,985
Have a gold cheque account package with ABSA and have had endless grief with it. Was contemplating moving after ABSA messed up yet again but put off by the hassle as they have my credit card, car etc but FNB seems like it might be worth it based on this thread.

Will be calling them ASAP
 
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