So I went to Capitec

duderoo said:
Wrong, I pay any easypay linked account and get R2 back for every transaction. Buy all my electricity via that and get R2 for each transaction. Buy R20 electricity and get R2 back.

In a month already on R150 with no bank fees.
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If you buy R20 elec at a time and think R3k is a lot of effort then we are in very different target markets .. but for your buying patterns I see your point
 
blunt said:
If you buy R20 elec at a time and think R3k is a lot of effort then we are in very different target markets .. but for your buying patterns I see your point
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R3000 to break even, even spending R10k which is allot for R150 (R105) in your back pocket
 
backstreetboy said:
Never had any with Capitec.
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You clearly pro Capitec and I was too until other products came around. Tymebank are really good with the rates and BankZero, linked to Michael Jordaan. I just refuse to pay for any bank fees and I see Capitec in their radio ads taking a dig at TymeBank and BankZero.

So if they either have issues, they are free and worst case they down for a day and doubt it will be at the same time. I will just use the other one and till service is back again.......
 
duderoo said:
You clearly pro Capitec and I was too until other products came around. Tymebank are really good with the rates and BankZero, linked to Michael Jordaan. I just refuse to pay for any bank fees and I see Capitec in their radio ads taking a dig at TymeBank and BankZero.

So if they either have issues, they are free and worst case they down for a day and doubt it will be at the same time. I will just use the other one and till service is back again.......
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I've been there when I joined Twenty20 Bank, back in the day. Worst case wasn't them being down for a day - when Saambou collapsed, all funds were frozen and it was a very long time of having no access to my money at all. If Standard Chartered, and then Nedbank, hadn't rescued the Twenty20 accounts it's likely that money would have been lost. Banks do fail and if a bank has no fees, it's best to be clear on the business model that makes them profitable, before trusting they will be able to look after your money in the long term. Sometimes, you get what you pay for...
 
C4Cat said:
I've been there when I joined Twenty20 Bank, back in the day. Worst case wasn't them being down for a day - when Saambou collapsed, all funds were frozen and it was a very long time of having no access to my money at all. If Standard Chartered, and then Nedbank, hadn't rescued the Twenty20 accounts it's likely that money would have been lost. Banks do fail and if a bank has no fees, it's best to be clear on the business model that makes them profitable, before trusting they will be able to look after your money in the long term. Sometimes, you get what you pay for...
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Very true and to get a banking licence there is a long haul to get that and they are not just given out freely. TymeBank have huge backing from Patrice Motsepe and co so I fail to see if they will fail. BonkZero also has Michael Jordaan, previously CEO of FNB. I don't keep all my eggs in one basket as mentioned so the likely hood of both failing very unlikely.

I guess each to their own......keep paying your R6.50's and your charges for paying people, withdrawing and dont forget about the electricity purchase fees (which were for free) etc. If that lets you sleep well at night.......all good for me.
 
Rock Lobster said:
@FlashSA how would you rate Capitec now?
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Still have the account, load R100 every year or so to cover the monthly fee, but I have no urge to transact with them again. I'm very happy with my FNB Easy account and the linked savings pocket pays a higher interest rate than Capitec. FNB's support is also miles ahead on the occasion that help was/is needed.
 
FlashSA said:
Still have the account, load R100 every year or so to cover the monthly fee, but I have no urge to transact with them again. I'm very happy with my FNB Easy account and the linked savings pocket pays a higher interest rate than Capitec. FNB's support is also miles ahead on the occasion that help was/is needed.
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Capitec's Live Better Account beats it though at 3.75%.
 
backstreetboy said:
Capitec's Live Better Account beats it though at 3.75%.
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Noted, but only .2% higher than the current rate on my linked savings pocket. Not enough to sway me.

In any case, I use my Access Bond facility for the proper savings. Bank savings accounts are just for emergency funds or money scheduled to settle my credit card - so interest is not the deciding factor. I need service.

As as aside, FNB made replacing my Easy account debit card very easy - bought a new card at Clicks and linked it to my account via the App. Cost was the same price as Capitec charges for a new card, but in this instance, I paid for convenience and to avoid a branch visit. If I had gone into an FNB, the card would have been free, but my time would have cost me more.
 
FlashSA said:
Noted, but only .2% higher than the current rate on my linked savings pocket. Not enough to sway me.

In any case, I use my Access Bond facility for the proper savings. Bank savings accounts are just for emergency funds or money scheduled to settle my credit card - so interest is not the deciding factor. I need service.

As as aside, FNB made replacing my Easy account debit card very easy - bought a new card at Clicks and linked it to my account via the App. Cost was the same price as Capitec charges for a new card, but in this instance, I paid for convenience and to avoid a branch visit. If I had gone into an FNB, the card would have been free, but my time would have cost me more.
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Luckily the nearest Capitec branch here is closer than the nearest Clicks branch.
 
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