Nedbank or FNB

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SAdata

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Hi there. I'm starting work next year. I'm trying to decide between bank accounts:

Chepaer accounts
-FNB smart account R49pm all incl
-FNB Gold cheque account - R100pm
-Nedbank Savvy bundle R89pm all incl.
Premium accounts
-FNB Platinum account (enter through young professionals channel) - R140pm + R50pm for a credit card
-Nedbank personal relationship banking account (young professionals) - R135pm (incl. platinum credit card)

I'm not sure if I really need the premium accounts but in a few years I might. The Nedbank PRB account looks good, but only lasts until you are 30, thereafter its R269pm - although who knows what will be happening then

The FNB smart account looks nice, but compared to Nedbank their premium accounts are very expensive!
What do you guys think of each bank and the products? Also which bank has better rates for vehicle finance or home loans. Nedbank seems to have better rates for deposits.

Thanks
 
Have a looks at the share trading options included too - that made quite a difference in my case (i.e. one bank "looked" cheaper until I realized I'd need to factor in share trading monthly fees too).

That being said - I'd go with FNB between the two. Mainly because FNB seems somewhat progressive whilst Nedbank is spamming me with unwanted marketing mails.
 
I'm biased to FNB

Thing is that once you are with them it is very easy to get access to their other products and benefits. You'll want these later on when you earn more. As far as car loans go - WesBank

IMHO, Nedbank is nowhere. All I'm basing this on is the excellent service I've gotten from FNB the last 12 years.

PS: And before the Capitec crowd rolls in (along with the virgin money credit card) - I have an account with them and the next time I will myself into their branch I'm closing it. You get what you pay for, that's all I'm saying.
 
Hamster said:
I'm biased to FNB

Thing is that once you are with them it is very easy to get access to their other products and benefits. You'll want these later on when you earn more. As far as car loans go - WesBank

IMHO, Nedbank is nowhere. All I'm basing this on is the excellent service I've gotten from FNB the last 12 years.

PS: And before the Capitec crowd rolls in (along with the virgin money credit card) - I have an account with them and the next time I will myself into their branch I'm closing it. You get what you pay for, that's all I'm saying.
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I have FNB on the fee saver so that costs me nothing each month. It's my main transactional account. I also have a virgin money credit card and have had zero problems that side! Capitec I have on the side initially to get interest on some cash I had but now it's just got enough money to cover the monthly fee. I don't use it anymore, that being said I didn't have any problems and nor does my girlfriend.
 
Freaksta said:
I have FNB on the fee saver so that costs me nothing each month. It's my main transactional account. I also have a virgin money credit card and have had zero problems that side! Capitec I have on the side initially to get interest on some cash I had but now it's just got enough money to cover the monthly fee. I don't use it anymore, that being said I didn't have any problems and nor does my girlfriend.
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I haven't had real problems with Capitec (other than my account being marked "dormant" because I haven't logged on in a year). They're just not FNB.
 
HavocXphere said:
Have a looks at the share trading options included too - that made quite a difference in my case (i.e. one bank "looked" cheaper until I realized I'd need to factor in share trading monthly fees too).

That being said - I'd go with FNB between the two. Mainly because FNB seems somewhat progressive whilst Nedbank is spamming me with unwanted marketing mails.
Click to expand...

FNB all the way..
 
Honestly, I don't understand why people rave about FNB. I was with Standard for 12 years. I left them for FNB recently and the experience I had opening an account was really pear. It left a bitter taste which still lingers...

I am only with FNB because:

- Their sharesaver option is easier than SATRIX (if I forget about my experience linked above)
- My Friends are with FNB, geopayments is quite handy (when the app works on the dodge phone I'm using)
- It's R4 cheaper than the account I had with SB. But they do charge a small fee for buying airtime (WTF)
- You can buy lotto through FNB
- eBucks (Although I'm still waiting for things to refresh, so I can actually start earning eBucks)

I find that transactions take FOREVER to reflect in internet banking, I never had that with SB.

In all my time with SB, I've had about 3 issues. One was my fault, the other two was just having to go into the bank to sort out paperwork. In retrospect, I wish I'd stuck with SB, but that's only because of the bad experience trying to open the account.

I've come to learn that a bank is a bank. There are huge similarities between the Elite account (SB) and the gold (FNB). All I can really recommend is going with Virgin Money if you're looking at getting a credit card. No monthly / yearly fees. You just pay interest (if applicable).
 
Will you fly a lot for work? If so, get the platinum card from FNB for the access to Slow lounge at airports. It beats waiting on those metal chairs for boarding.

Ebucks are also cool, but you have to have the correct spending behaviour to really earn significantly.
 
FNB

They may not be what you need today, but are a great bank when you get to the Platinum / Black card area.

Nedbank just fall apart at that level.
 
Interestingly enough, I also bank with FNB (have been since childhood when they had their junior accounts) - I changed the structure of my account recently and now I am in the market for a new everyday account - whilst my primary account remains at FNB.

The intention has been to move the income I receive from my rental property and have it paid into this new transactional account and move my debit orders along with it. However everyone of these accounts seem to be charging you for your debit orders (7 of these DO).

Anyone know of one that doesn't charge for Debit Orders ( Monthly Fees of about R60-R80 max), has internet banking and all the nice extras?

PS. as it relates to service it doesn't matter they're all they same - they all suck in equal proportions.

I have a bond with ABSA on my rental property, previously made us of their vehicle finance facility. They approved another bond in principle for a bank repo property that I purchased and have yet to dispatch a valuator to the property.
Standardbank the same, I had an application approved and signed only for it to dissapear into a black hole of nowhere - this after I had to spend and an hour waiting(each time) to chat to a useless sales consultant on 2 seperate occassions.

I've also been privvy to the systems of some of these institutions, except for ABSA and Capitec - they all are equally crap.

So I don't much care to promote anyone of them - I just go where it suits my needs and that's that.
 
mr_norris said:
Honestly, I don't understand why people rave about FNB. I was with Standard for 12 years. I left them for FNB recently and the experience I had opening an account was really pear. It left a bitter taste which still lingers...

I am only with FNB because:

- Their sharesaver option is easier than SATRIX (if I forget about my experience linked above)
- My Friends are with FNB, geopayments is quite handy (when the app works on the dodge phone I'm using)
- It's R4 cheaper than the account I had with SB. But they do charge a small fee for buying airtime (WTF)
- You can buy lotto through FNB
- eBucks (Although I'm still waiting for things to refresh, so I can actually start earning eBucks)

I find that transactions take FOREVER to reflect in internet banking, I never had that with SB.

In all my time with SB, I've had about 3 issues. One was my fault, the other two was just having to go into the bank to sort out paperwork. In retrospect, I wish I'd stuck with SB, but that's only because of the bad experience trying to open the account.

I've come to learn that a bank is a bank. There are huge similarities between the Elite account (SB) and the gold (FNB). All I can really recommend is going with Virgin Money if you're looking at getting a credit card. No monthly / yearly fees. You just pay interest (if applicable).
Click to expand...

Similar situation for me but one thing you have to remember is that Standard are on their way down.

I never had any issues with them for over 25 years, then in the last few years things have started to take a turn for the worst. I'm in the process of closing my accounts with Standard, they still owe me R2500 for a fraud refund and and an incorrect payment. I have been waiting almost half a year. I'm going to have to just write that debt off. So to me its a failing bank.

Trust me... I have worked at Standard.... and Nedbank. Nedbank is at least getting a bit of a shake up at the moment. Standard is past the point of no return.
 
Id say go Fnb. You dont have to go platinum. They use to have a graduate (basically gold with some perks) account. Im on that and get offers to upgrade to platinum all the time, which I refuse because I dont see the advantage at this point in time. My wife is on platinum via the young professionals route and wants to downgrade to gold.
 
Ok! seems like a lot of FNB fans - I agree it is a great bank. Obviously some people will have had issues thats unavoidable, but the happy customers seem extremely happy. Any Nedbank fans out there? To me Nedbank does seem much cheaper though - its in the little things - on the PRB account you get mailed a statement each month and you get a free branch statement per month - FNB on the other hand charges R13 per page for bank statements for their platinum accounts even! Nedbank charges 1.75% for currency conversion, FNB 2.75%..
 
Unless you're moving more than 100k on your account a month (i.e. a business), its really makes no difference who you bank with.

Just go with your gut.
 
Been with Nedbank for about 15 years now and have never had a problem. The account options and solid and the fees are on par with the other banks.

With that in mind, the only bank that I would ever consider moving to would be FNB. SB is outdated and it's a mission to get anything done, and ABSA has a terrible track record in terms of customer service.
 
SAdata said:
Ok! seems like a lot of FNB fans - I agree it is a great bank. Obviously some people will have had issues thats unavoidable, but the happy customers seem extremely happy. Any Nedbank fans out there? To me Nedbank does seem much cheaper though - its in the little things - on the PRB account you get mailed a statement each month and you get a free branch statement per month - FNB on the other hand charges R13 per page for bank statements for their platinum accounts even! Nedbank charges 1.75% for currency conversion, FNB 2.75%..
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Depends on the account I suppose. I have a Platinum Cheque + Credit on a flat fee. Basically, I pay a monthly fee and all my costs etc are included.
 
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