So I went to Capitec

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FlashSA

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I have been an FNB client since I was in primary school and without getting into the nitty gritty, I find their fee structure and increased difficulty to earn eBucks irritating!

So I walked into Capitec. My initial intention is to switch half my salary payment to them and move my debit orders to them as well. I will then move the R10k from FNB which has been parked forever to avoid bank charges. This will drop me to the minimum monthly account fee at FNB and I will use the Android APP to do all payments and transfers which is free. Capitec in turn will pay me interest on the R10k and this interest will be a lot more than bank charges from them.

I walked in at 8:15 and the branch was quiet. Took a number and sat for 3 minutes. Lady got the ball rolling but we hit a 45 minutes snag when the home affairs check did not back up my fingerprints and did not display a photo from their database. For 45 minutes the lady held on with FICA or whatever without assistance. Eventually she called a manager who overrode the process and we continued.

Thanks to all of the threads here I remembered to ask her to activate my card for online shopping and she set up the android app on my phone too. She then asked me to go to home affairs to sort out the info. I said no way in hell and she laughed and said it will not be required for the bank account to open. She then called the branch manager over who welcomes me and asked if everything was in order - nice touch.

So, I am a Capitec client. I have moved 2 out of 4 debit orders (bond and car still awaiting confirmation) and HR will do what they need to do re salary.

I am looking forward to this new experience..
 
My wife moved from Absa to Capitec, she also had a very good experience and is happy with their mobile and internet services.

Unfortunately I'm stuck with FNB for the next 14years as my bond interest rate is on condition that my salary is paid into an FNB account. :(
 
I have reached the stage in my life where the status of a card colour means jack to me - when I was younger, image played a part.

I downgraded my Platinum cheque account to Gold at FNB 2 weeks ago due to the cheaper monthly fee. I just want a place to park my money before I either spend it or move it into my access bond (where I store savings). Capitec ticks the boxes.

For now I will keep FNB just to earn eBucks from takealot and other partners when I shop online (it looks like you have to continue to bank with FNB to still earn and spend ebucks - or am I wrong?).
 
dade said:
My wife moved from Absa to Capitec, she also had a very good experience and is happy with their mobile and internet services.

Unfortunately I'm stuck with FNB for the next 14years as my bond interest rate is on condition that my salary is paid into an FNB account. :(
Click to expand...

Shop around, you might get a better interest rate somewhere else :p
 
Interesting.... I EFT'ed some money from my FNB account this morning at about 11am

Just got a Capitec SMS to confirm money is in on their side. Usually between 2 banks is minimum the next day?!

Awesome!
 
It's very interesting that you say all this actually.

I was with iCanonline back in the day...who Nedbank bought as I recall. Then I was with 20Twenty and when they folded with Saambou I jumped to Pick & Pay Go Banking which Nedbank then also bought.

So with no more cool new and savvy "online bank" options I just stuck it out with Nedbank. They honoured the P&P Go Banking system for ages and my banking costs were never more than R75 a month which suited me just fine.

I laughed in the face of everyone who told me their banking is "just" R199 and they get eBucks and all that.

Then from end of last year Nedbank started doing everything they could without breaking contract to make the Go Banking thing unpleasant and force you onto the Savvy package.

That was the final push and so I figured if I'm going to go into a bank to alter my accounts...I might as well switch banks.

So FNB it was.

It hasn't been the "Switch in 10 minutes" they promised but it has generally been a much more positive experience. I didn't know how terrible Nedbank's system were until I saw FNB's internet banking and Apps.

Now to see if the eBucks dream lives up to it.
 
Already with FNB and Standard.
Does Capitec have the option to buy Lotto and Instant Payments?

Only reason I have an FNB account at the moment albeit it's only R5 a month.
 
Pho3nix said:
Already with FNB and Standard.
Does Capitec have the option to buy Lotto and Instant Payments?

Only reason I have an FNB account at the moment albeit it's only R5 a month.
Click to expand...

Lotto yes and it is free. Instant Clear - I did not notice that functionality TBH

EDIT: Sorry, I see FREE next to airtme/Electricity in their pricelist. No mention of LOTTO.
 
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I have experience with 4 banks, FNB, ABSA, Nedbank & Capitec.



My FNB account got closed due to non activity but I had no issues with them, it was a bit costly as a student.



I then moved to Nedbank as they were the only bank which allowed me to open an account without a parent present. The fees also were costly as a student. I still have the account open I think...



Lastly I opened a Capitec account which has the best value for fees offering & I haven't had an issue since.



My ABSA account is just a student credit card and I have no other dealings with ABSA, I did have some FICA issues but otherwise its been good. Also ABSA charges me, R5 for a deposit at their ATM :wtf:



In the future when the need for a bond or such is required, I might go back to FNB.
 
I like Capitec's SMS notification system where details of any transaction above R100 is sent via SMS to you.

Will happily pay the SMS fees for that little peace of mind.
 
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