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Question of the Day: How often do you receive spam calls?
Iburst I LOVE IT!!!
- Thread starter xxxanonymousxxx
- Start date
ld13
Honorary Master
7/30?...
R2 500 000 x 9% Interest = R225 000 PA
R255 000 / 12 Months = R18 750 PM
R18 750 / 30 Days x 7 Days = R4 375 Per 7 Days
OR
R225 000 / 365 Days x 7 Days = ~ R4 315 Per 7 Days
And the last time I checked I was getting almost 12% Interest on the Money market.
Side note: Interest not compounded in above calculations...
7/30?...
R2 500 000 x 9% Interest = R225 000 PA
R255 000 / 12 Months = R18 750 PM
R18 750 / 30 Days x 7 Days = R4 375 Per 7 Days
OR
R225 000 / 365 Days x 7 Days = ~ R4 315 Per 7 Days
And the last time I checked I was getting almost 12% Interest on the Money market.
Side note: Interest not compounded in above calculations...
How much is in your account then? FNB only goes up to 9%. Which one you're using?
You're right I forgot to divide the money by 12, the 7/30 would be the average interest for 7 days out of a 30 day month, while not 100% accurate it would come to a similar figure (R4375), using 365 and not 12x30 makes the calculation more accurate.
Its still peanuts tho and maybe pays one salary for one worker.
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ld13
Honorary Master
ABSA Money Market Account - Min of R20 000 must be in account. I'll find out the latest rate on Monday (it goes up and down the whole time). Was close to 12% the last time I checked.
Is 12% for R20.000 only? FNB give you a constant max of 9% for R100.000
plus. Its less for lower amounts. You can't go above 9%.
ld13
Honorary Master
Its an account. You need to open it with a MIN balance of R20 000. Then they take like 1% (I think - under correction here) of the amount you deposit as a fee. You then earn whatever the interest rate is currently, on the balance (whatever it is as long as it's 20k+) - paid out monthly. 12% is just a random amount that I pulled from the air. The exact % could be lower. Last time I checked it was close to there...
Have a look at this:
http://mybroadband.co.za/photos/showphoto.php?photo=2792&size=big&cat=
They show it as "Geldmarkfonds" on my bank statement I have here so maybe this is just the Old name for "Investment Advantage"?
Yes that's how my FNB one works, I only get 9.4% out of it though. That's the max it goes at. FNB gives you the entire sum though and doesn't take anything, so I guess it works out that ABSA takes 1% of yours or something.
I just got a lovely statement from them claiming i owe them R2177 for PPU usage in april after they confirmed 3 times (2 email conversations and 1 phone call) that it is not active on my account.
Are the employees even trained to use theyre system?
Are the employees even trained to use theyre system?
RVFmal
Expert Member
- Joined
- Oct 27, 2004
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- 2,173
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- 214
Styxis. Would you mind sending me this in writing and possibly a copy of the mails and statement/invoice?
Going to add this to my extremely fast growing list of problems that iBurst say that they do not have.
Sure thing. would forward it a bit later during the day.
semiautomatix
Honorary Master
Are we ever going to get to see the invoice?
RVFmal
Expert Member
- Joined
- Oct 27, 2004
- Messages
- 2,173
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I think we have more chance of iBurst becoming an ethical company and treating their clients with respect as well as offering a brilliant product at affrodable rates in line with what is offered in countries with developed telecommunications.
And we all know how remote the chances of that happening are........
Ou grote
Honorary Master
Anyone know what happened to the 70k bill?
Did the guy skip the country?
Did the guy skip the country?
Why would you want to smack the poor customers forced to deal with "ONLINE DIRECT" and 'iBurst SA', with a baseball bat
Yes yes, much better:lol: ok out of rage and anger I didn't word that correctly
I wanted to smack every person that works in the Iburst and Online Direct's accounting department...
better?
.IMO the only way to deal with iBurst SA, that will not land you in jail, is to prevent the company from stealing one's money - open a criminal case of fraud against iBurst SA just before switching bank accounts, and if iBurst SA has your bank account details, open a new account, move all your other [legitimate] debit orders to the new account, and then close the old account, oh and switch to another broadband service or use a reseller instead of iBurst SA directly.
@ic, Changing ones bank is a real pain in the butt, having to change all other debits etc including housing bond payments in some cases.
This sort of criminal "fund extraction" iburst has done to many an iburster and needs to be stopped in it's tracks, there has to be a legal way to bring this corrupt company to book.
Even though they are still in business, the way they go about that business is very short term thinking, I'm willing to bet they've lost a hell of a lot of possible new customers as well as quite a few older "suckers" including myself.
This sort of criminal "fund extraction" iburst has done to many an iburster and needs to be stopped in it's tracks, there has to be a legal way to bring this corrupt company to book.
Even though they are still in business, the way they go about that business is very short term thinking, I'm willing to bet they've lost a hell of a lot of possible new customers as well as quite a few older "suckers" including myself.
Obviously I agree 100% that changing one's bank account is a major pain in the rear end, however, newbies that read what we post here, also need to realise the seriousness with which we post what we post.
IOW if you're a newbie reading this, and you don't know much about iBurst SA, then one thing should be clear - never give iBurst SA your bank account details, which probably also means that iBurst SA will not allow you to sign a lengthy contract - which is a blessing in disguise - for you the reader - even though you might not realise it [yet], spend some time reading through the threads in this forum, and you will realise that iBurst SA's accounts department does whatever it wants whenever it wants, and has only gotten progressively worse since iBurst SA launched.
Again I agree with you, but there is one thing we can do, that will have a positive effect over time, and that is to warn newbies considering iBurst SA as their ISP - IMO it is actually our civil duty to warn newbies about iBurst SA's accounts department.
I canceled my iBurst last month and the service is due to stop end of this month. I'm dreading to see if they are going to keep charging me.
But I also fail to see how they could call what they offer a service. I canceled my account because of the cost and the fee to reduce to lower cost packages but more importantly because of their inconsistent service. I play online games and will get fine latency for 30 mins then it jumps to 10 times as much for 30 mins. Then I get disconnected every 2 mins for an hour. During those high latency times its not just my games that are slow but I cannot even browse. Internet banking is impossible.
This has happens every single night. Its obviously not the signal strength else I would not get periods with good service.
This company is going all out to get as many people to pay them for crap service as fast as possible before more people realise that they don't have anything to offer.
I'm already drafting the letter of complaint because I just know they are gonna take my money again this month regardless of my stopping the service.
But I also fail to see how they could call what they offer a service. I canceled my account because of the cost and the fee to reduce to lower cost packages but more importantly because of their inconsistent service. I play online games and will get fine latency for 30 mins then it jumps to 10 times as much for 30 mins. Then I get disconnected every 2 mins for an hour. During those high latency times its not just my games that are slow but I cannot even browse. Internet banking is impossible.
This has happens every single night. Its obviously not the signal strength else I would not get periods with good service.
This company is going all out to get as many people to pay them for crap service as fast as possible before more people realise that they don't have anything to offer.
I'm already drafting the letter of complaint because I just know they are gonna take my money again this month regardless of my stopping the service.