Looking to change banks

SaiyanZ

SaiyanZ

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I'm currently with ABSA and have been with them for over 6 years. Have a credit card and a savings account. The bank charges are insane and seem to be going up. For instance R14.75 to withdraw R1000 from an ABSA ATM. I mostly use online banking and have to pay for that as well. On top of that there's normal bank charges. In total my monthly banking costs go well over R200. This is just for 2-3 ATM withdrawals, a couple of transfers between accounts and about 5 debit orders/payments (rent, car, insurance, phone, internet)

I also have a savings account with FNB. Thinking of switching over to them or someone else. Is worth it to move and which bank is recommended for low charges?
 
Capitec, FNB come to mind.

From the number of transactions you run on your account, you could also change which product you on with ABSA to reduce the fees.
 
Same boat with Standard Bank - looking at either/both FNB/Capitec. Already have a Capitec savings account and going to start using that for daily expenses from next week (pay day)
 
I'd say FNB as their electronic pricing options seem very competitive. In fact you could probably get a Blackberry Curve thrown in for less than you currently pay!
 
As you already have an FNB account you'll be able to halve the effort to add a Cheque account and credit card,leave the savings account for savings and start using the cheque account as your transactional account
 
I use FNB, pay R92 a month for my cheque account, no other charges at all, free internet banking, transfers, cash withdrawals, swipes at the till etc, and managing my money using their App works wonderfully too!

Also have a Capitec account for saving the odd buck thanks to nice interest and low charges
 
ya fnb all the way, especially when it comes to their internet banking, and there is quite a few benefits from it.
 
Yeah - Standard will be a similar pricing structure to what you have.
Seems FNB is your way forward.
 
In the same boat... also looking at FNB.

How is the whole changing banks process, I've heard it goes pretty smooth and they handle all the changing of debit orders and salary payments.
 
Think I will switch to FNB. I like the free online banking.

Not sure whether to cancel my ABSA credit card though and get an FNB credit card.
 
The only reasons to get a FNB credit card are EBucks and Fuel.

Check out the EBucks and credit card charges against your potential credit card usage. 15% in EBucks is possible on fuel, but it will probably take you a year to get there. Cash is so last century. Use a CC for everything. There are few things that you NEED to pay cash for, I have had a FNB account for 4 years and have yet to use my card in an autoteller.
 
Was with fnb for over 20yrs then finally moved over to capitec 3yrs ago. Best thing I ever did. No long queues and hardly go into bank anymore. Atm withdrawals cost R3.50 but hardly use that at all. If I need to withdraw cash then I do it at any PnP, Checkers or shoprite till and it only costs R1. In actual fact I needed to withdraw R7000 cash last year and did it at PnP. Best of all it only cost me R1. My banking fees always went over R100 p/m at FNB, even with structured fees in place, now it ranges between R45 and R55 p/m. Internet banking works well for my needs and sms is received immediately for every transaction that occurs over R100. You also get a digitag for secure internet banking. Must say I'm much happier now that I've moved over. Also they're open till 5 or 6pm during the week and some branches are open on Sundays as well.
 
I'm also thinking of jumping ship from Standard Bank. FNB or Capitec. Hmm. I've got reservations about Capitec for some reason, I guess because they're not as long established as the bigger names? Dunno. Is this why a lot of guys here have transactional accounts with FNB and savings with Capitec? There's also no branch in my vicinity but one rarely needs to visit a branch anyway...

Is it worth the effort? It's going to be a long term move, and won't advantages ebb and flow between different banks? In 5 years Standard Bank might be the best, for example?
 
With standard at the moment but will be switching next month. Will more than likely move to FNB purely because of the additional services they can offer which Capitec at this stage cannot or doesn't have. Charges are insane at the moment and I use online banking and card swipes most the time.
 
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