Should I switch from FNB to Capitec?

SauRoNZA said:
Why are you not on a capped all inclusive package?

Premier is R205 odd a month. Klaar.

Seems people don't have the banks wrong, just woefully incorrect product options.
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if thats the case they naaid me
anyways, glad im on Gold as i now earn eBucks
on Premier i earned zero ebucks a month asi dont earn R30k a month
 
beans100 said:
If you want to earn 6 times more ebucks than your bank fees, like some advertised, be ready to spend some moola. Some rich folk don't even realize how much money they have and spend and will tell you otherwise. If you're not hoop jumping + spending thousands at Engen and thousands at Checkers, you're better off at Capitec.
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I struggle with statements like these, but at the same time agree that circumstances will differ.

My "hoop jumping" consists of a money shuffle in my account to activate my overdraft going for a day. There are those who use their overdraft without doing what I do, because times are tough. I am assuming that most people on this forum have a car and eat food, so groceries and fuel can't really be seen as an additional expense.

I earn a decent amount, but I've been doing this ebucks thing for yonks. To get to my level, I spend just over R200 (that's cheque account fee of R105, credit account fee of R50, and overdraft fee of R70, I think - don't remember the exact figures). To get my ebucks earnings, I shop as I would normally shop if I wasn't in the ebucks program, except I go to specific shops and petrol stations to maximise rewards.

If the above sort of hoop jumping isn't for you or if you don't eat or drive, then by all means, ignore the ebucks aspect. There are loads of seriously budget accounts that you can go with. Capitec is just one of them.
 
Chuckmyster said:
if thats the case they naaid me
anyways, glad im on Gold as i now earn eBucks
on Premier i earned zero ebucks a month asi dont earn R30k a month
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In that case makes sense.

My eBucks completely offset my bank fees so it's a no brainer.

But they are a consistent R205 or R209 or whatever it is.
 
Chuckmyster said:
when i logged onto the fnb online website there was a Premiers phone number there, your own private banker type of thing.
i made contact and they sent me new forms to fill in
was very easy and everything just worked
i was nervous as i could see 4 accounts for a month
FNB Cheque Gold , FNB Credit Gold
FNB Cheque Premier, FNB Credit Premier
but after a month or so the 2 just fell away
so i am only on Gold now, wont ever upgrade again, for me it isnt worth it, for others yes it is :)
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Thank you, they upgraded me to Private, since then I barely get R50 back in ebucks and the banking fees are insane, I want to downgrade ASAP!
 
beans100 said:
If you want to earn 6 times more ebucks than your bank fees, like some advertised, be ready to spend some moola. Some rich folk don't even realize how much money they have and spend and will tell you otherwise. If you're not hoop jumping + spending thousands at Engen and thousands at Checkers, you're better off at Capitec.
Click to expand...

There is no special hoop jumping required.

I simply pay what I would need to pay regardless with another bank, I just spend it in the right places.

I get R1200 odd back in eBucks....so R1000ish after bank fees.

Naturally if you can't hit RL5 on Premier then you shouldn't bother and stick to Gold. eBucks rewards are a losing game for anyone under RL4.

Basically, you need to choose correctly, not spend more money. There is very little in the eBucks that sees you getting more back for spending more.

If you don't make/spend enough to be able to do it then you are on the wrong package.
 
SauRoNZA said:
In that case makes sense.

My eBucks completely offset my bank fees so it's a no brainer.

But they are a consistent R205 or R209 or whatever it is.
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great to hear
I make about 50 bux back a month now when u offset all the costs
plus my eBucks account is growing nicely as i dont touch it, waiting to be on Level 5 and then buy something big on a 40% discount
 
SauRoNZA said:
There is no special hoop jumping required.

I simply pay what I would need to pay regardless with another bank, I just spend it in the right places.

I get R1200 odd back in eBucks....so R1000ish after bank fees.

Naturally if you can't hit RL5 on Premier then you shouldn't bother and stick to Gold. eBucks rewards are a losing game for anyone under RL4.

Basically, you need to choose correctly, not spend more money. There is very little in the eBucks that sees you getting more back for spending more.

If you don't make/spend enough to be able to do it then you are on the wrong package.
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agree 100%
i been there done that
:thumbsup:
 
mr_norris said:
If the above sort of hoop jumping isn't for you or if you don't eat or drive, then by all means, ignore the ebucks aspect. There are loads of seriously budget accounts that you can go with. Capitec is just one of them.
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Non of them will have the great service one gets with Capitec, integrated debit and CC account and zero currency conversion fees though.
 
Chuckmyster said:
when i logged onto the fnb online website there was a Premiers phone number there, your own private banker type of thing.
i made contact and they sent me new forms to fill in
was very easy and everything just worked
i was nervous as i could see 4 accounts for a month
FNB Cheque Gold , FNB Credit Gold
FNB Cheque Premier, FNB Credit Premier
but after a month or so the 2 just fell away
so i am only on Gold now, wont ever upgrade again, for me it isnt worth it, for others yes it is :)
Click to expand...
Thank you, I managed to give them a call, it will be done within 7 days :-)
 
FNB is not that bad. I used to pay, like +- R300 per month, easy on bank charges but now I pay ONLY R105.00 for my Gold Cheque Account, which is the monthly account fee. You have to be on your toes to keep your bank charges low. For instance, I don't use cellphone banking at all (those fees add up pretty quick), just internet and app. I also don't purchase powerball tickets, lotto whatever on the bank. I do not email or sms proof of payments directly from the bank, i download the POP or print it. I also turned off sms notifications as the app notifies me anyway for free. I do not withdraw more than R5k from the ATM, otherwise they start charging all of these "Service Fees"

*Did you know if you buy airtime on cellphone banking, you are charged R2.50 everytime, but its free online?
 
Ok great and thank you all for your tips and advice. I called them and investigated some more. My pay and clear now was higher than I thought and my average eBucks comes to about 250 Rand per month. After some more calculations I realised I'd save about 50 bucks pm at Capitec. No problem as I use the slow lounge about 6 times a year. I did not know about Checkers so I'll shop there more now.

Might even switch to gold card.
 
People should pay more attention to product they are taking. Do more research, I mean cheap service charges might not be solution for your everyday banking services. You might experience more technical challenges than what you been through.
 
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