Private banking FTW !

I'm pretty sure they will let you join if you earn less than the requirement, as long as you pay the R299/mo fee...
 
Had Private Banking with Standard Bank, It’s useless for the price.
Last year when we bought a house they just ran me through their normal crappy credit scoring system and offered me prime + 0.87%. They don't treat Private customers any different at all... that was quite ridiculous given my circumstances.

After that, I went through a bond originator who found ABSA to be @ prime – 0.75%

I then went to Investec who, without even looking at anything in too much detailed offered me prime -1%
Private Banking is only worth it if your situation is given specific attention, otherwise it's just a glorified courier system.

If I'm not with Investec, I won't have Private Banking at all.
 
eehellfire said:
Hardly. It's about the principle
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P924 said:
If you are paying R300/mo for something you are not using, it is hardly free...
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^this

What can ALL your banking needs possibly be? I don't see the point, I do everything via internet banking and MAYBE have to go to the bank once every six months or so. I'd rather pay myself the R200 difference and go for a nice dinner every two months, more than what the bank is going to do.
 
P924 said:
Then you are doing it wrong.
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That's a ridiculous statement. An average cheque account with a transactional package is over R100 per month. An average credit card is over R50 a month (Virgin excluded). If you don't have an 'average' account then it will be more
 
Its hard to make a case for it on its own. Unless you're a serious baller you're never going to recoup the R300+ in saved fees & perks.

However it does mean I don't need to deal with the retailer banks...had enough of that. Plus one less thing to worry about in life. So it does kinda work out OK.
 
eehellfire said:
That's a ridiculous statement. An average cheque account with a transactional package is over R100 per month. An average credit card is over R50 a month (Virgin excluded). If you don't have an 'average' account then it will be more
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An "average" Standard ban elite account is R110 per month for cheque, credit card and garage card. Unless you visit the bank a lot, there is no benefit from paying more...
 
FNB private client offer access to international lounges on a point scoring type system. You get so many entries depending on what level you are on. Access to domestic lounges within SA is 2 or maybe 4 a month iirc.

They're all schit anyway. Too crowded and full of grabbers loading their plates and getting something for free. I occasionally have a shower at Joburg slow lounge which is worth it if I've had a long flight and a bit of time before the CT flight, but really, I'd rather get a coffee at Costa than fight with the masses over a free sandwich.

EDIT: Sorry, the shower is in the SAA lounge. The slow lounge at Joburg is too packed to get any where near a toilet.
 
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