Posbank and how bad it is.

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
47,983
Capitec pays 4.5% interest pa, and R5 monthly in fees. Therefore, you need to have a balance of over R1200 just to break even

AFAIK only retirees get "free" banking, but you have to leave a positive balance in the account to qualify
Yes, currently, but back in 2008 Capitec was available (my account opened Aug 2008), with a higher interest rate than now (9 or 10%ish) and the monthly fee was like R3.50.
 

beans100

Honorary Master
Joined
Jul 30, 2010
Messages
10,391
Back in the 80's, you could save at the PO and that actually grew over the years. I remember they taught us in Sub A and Sub B to save there. First Monday of every month or something, we had to put in a few cents or a R1 or so. Also forgot about it, until I found that book somewhere in the 90's. They actually sent the book away, for interest to be calculated. Came back and I was a few hundred rand richer. All that money was then removed and safely invested in the local pub......ah, to be young and wise.
 

Lupus

Honorary Master
Joined
Apr 25, 2006
Messages
15,396
What about guns and ammo too? Or else how will you defend yourself and your gold coins in the chaos following said collapse?
Don't forget that it's all and well having gold. But how are you going to spend it? Want a loaf of bread it will be a sliver of gold??
 

WillemRoos

New Member
Joined
May 8, 2019
Messages
8
Don't forget that it's all and well having gold. But how are you going to spend it? Want a loaf of bread it will be a sliver of gold??
Easy. You can sell gold, especially gold coins, just about anywhere in.... the world. From pawn stores, coin shops, even on Facebook, or print publications. Best of all is, your gold is worth the current gold price across the globe. So, if you, like many of the older folk, bought a 1oz Krugerrand back in the 1980's for R300, that same coin is worth almost R19,800 today, no matter where you sell it.

So, if you bought 1 or 2 1oz Krugerrands back then a year, you could have had around 60+ of them in your safe today. Selling all your gold coins today, could bring you a nifty R1.2m+ in cash today.
 

supersunbird

Honorary Master
Joined
Oct 1, 2005
Messages
47,983
Easy. You can sell gold, especially gold coins, just about anywhere in.... the world. From pawn stores, coin shops, even on Facebook, or print publications. Best of all is, your gold is worth the current gold price across the globe. So, if you, like many of the older folk, bought a 1oz Krugerrand back in the 1980's for R300, that same coin is worth almost R19,800 today, no matter where you sell it.

So, if you bought 1 or 2 1oz Krugerrands back then a year, you could have had around 60+ of them in your safe today. Selling all your gold coins today, could bring you a nifty R1.2m+ in cash today.
Selling it to them for a 1000 breads or what? (remember, the monetary system had collapsed as per Arthur, so you are not going to get cash)
 

Lupus

Honorary Master
Joined
Apr 25, 2006
Messages
15,396
Selling it to them for a 1000 breads or what? (remember, the monetary system had collapsed as per Arthur, so you are not going to get cash)
Apparently pawn shops will exist :). This is why I find it funny that some doom prepers have gold. Cause yeah that's going to hold up when the poo has hit the fan.
 

Cius

Executive Member
Joined
Jan 20, 2009
Messages
5,309
Fees, and no interest rates in savings accounts (and not really on any other accounts except fixed deposits either) at the big 4 banks (and Postbank) until some of them made accounts to compete with Capitec which has a decent interest rate on their accounts. But nooooo, Capitec is the spaza or mickey mouse bank according to some losers, while in fact being a market disruptor.
Nedbank had an account that did all that that they launched as pick n pay go banking. Never had much take up so it got closed. My wife had an account that earned her money market interest rates at very low fees. Alas it is gone. The thing is in SA even a great offering can die as people are just not interested in changing banks, or even doing any research on what is good out there.
 

Topdoggdbn

Senior Member
Joined
Mar 24, 2009
Messages
676
capitec fixed term 8%-10% still beating my other long term shares.
those shares are tracking well against others like allan grey, but the capitec is tracking consistently.
 
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