So I went to Capitec

FlashSA said:
All fine here on my side, but I am running my Capitec account differently now because I have read of so many Capitec clients being card skimmed (could be their own carelessness though)...

I now keep R100 in the main GLOBAL ONE account and all other money spread over the other 4 savings accounts. I use my Virgin Money CC for day to day and when I need cash I just swipe at our business and take from the till (CC % < cash deposit fees). I have also turned SMS updates off on the Capitec account so transferring between accounts is now 100% free.

On debit order day I move just enough into the Global One to satisfy the debit orders. Of course if, like my insurance did this past 1/07, a debit order is higher than it should be, they will be returned as happened to me but that is a story for another day!!

Worst they can hit me is the R75 available balance in the Global One...
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Same here.
 
ichigo said:
Not that, but when I purchased something it double billed me and the one was on processing for 7 days holding my cash so went in and they removed it the next day.

Was hoping it would remove itself so waited a week before going in.
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Also got this once. The first one was a hold and only the second one deducted the money. The first one reversed itself.
 
I just got my new FNB cheque card today as I'm moving all my debit orders over to them. My original intention of my Capitec card was to use it as a second stress free card for day to day expenses and not have things like my bond going off.

I feel nervous every month when I transfer a big chunk of my salary into my Capitec card.

For keeping R1K in it to fill up my car and buy from random stores & online purchases it perfect and I'm going back to that.
 
between 80K and 90K. most of the time. emptied it when African bank went down and its filled up again nicely. want to live off interest in 2 years.
 
Magnum said:
between 80K and 90K. most of the time. emptied it when African bank went down and its filled up again nicely. want to live off interest in 2 years.
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Even Capitecs interest is not enough to beat inflation. Your purchasing power is just declining all the time at the rate of (your personal inflation) - (interest earned).
 
Thats why I move the money. every now and then.
 
How do you get that SMS with the monthly fees/interest?
 
airborne said:
How do you get that SMS with the monthly fees/interest?
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Hi I think you can go to a branch and ask that they update your personal info to receive marketing via sms. Or call their cust care, possibly.
 
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I started getting the sms after verifying my phone number and registering for cellphone banking but never use the latter.
 
Seems to me that the people who benefit most from Capitec accounts are those that spend little, are very, very concerned about banking fees, and have large amounts of money they want to keep in a current account instead of a higher-interest-earning non-current account. Quite a small target market, maybe.
 
2 interesting things I recently noticed:

*New CREDIT tab in the mobile App with a picture of cards on it (Credit Card coming finally?)
*You can't take a screengrab when inside the Capitec App due to DRM protection (I tried to to source the point above re CC)
 
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FlashSA said:
2 interesting things I recently noticed:

*New CREDIT tab in the mobile App with a picture of cards on it (Credit Card coming finally?)
*You can't take a screengrab of when inside the Capitec App due to DRM protection (I tried to to source the point above re CC)
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I hope so. Though I will most likely still keep my Virgin Card. I have built up a nice credit limit on there, but would then switch to using my Capitec credit card for my daily transactions instead of my Virgin card.
 
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