So I went to Capitec

So I just opened my account today.

Happy with the consultant who signed me up, decent conversation skills as well as working efficiently.
I currently have ZERO balance in the account but have set up all my beneficiaries, limits as well as prepaid and electricity details.

The website is very bare bones- I like it actually. Fairly functional from what I can tell.
The app is solid as far as I have experienced.
Note: I have not done any transactions yet so I will have a better opinion in the near future when I move my salary over.

I am a bit disappointed that no credit card is available (for now) - I Would have liked to milk it for the credit score boost.
I am also surprised at the high fee for a deposit other than my salary deposit - R18
Finally, I hate the fact that EMAIL notifications are not an option (only SMS - and at 40c a pop NO THANKS!)
 
Welcome to the best kept banking secret club! Credit card will be her within months judging by the latest interviews with the CEO. I also opted out of the sms updates and rather keep all money spread out over the 3 free attached savings accounts with only a few hundred in my Global One account. That way, if my card was skimmed, they would only get a few hundred...
 
Tariq786 said:
So I just opened my account today.

Happy with the consultant who signed me up, decent conversation skills as well as working efficiently.
I currently have ZERO balance in the account but have set up all my beneficiaries, limits as well as prepaid and electricity details.

The website is very bare bones- I like it actually. Fairly functional from what I can tell.
The app is solid as far as I have experienced.
Note: I have not done any transactions yet so I will have a better opinion in the near future when I move my salary over.

I am a bit disappointed that no credit card is available (for now) - I Would have liked to milk it for the credit score boost.
I am also surprised at the high fee for a deposit other than my salary deposit - R18
Finally, I hate the fact that EMAIL notifications are not an option (only SMS - and at 40c a pop NO THANKS!)
Click to expand...

Non-salary cheque deposits are R18... do you get cheques often??
 
Tariq786 said:
So I just opened my account today.

Happy with the consultant who signed me up, decent conversation skills as well as working efficiently.
I currently have ZERO balance in the account but have set up all my beneficiaries, limits as well as prepaid and electricity details.

The website is very bare bones- I like it actually. Fairly functional from what I can tell.
The app is solid as far as I have experienced.
Note: I have not done any transactions yet so I will have a better opinion in the near future when I move my salary over.

I am a bit disappointed that no credit card is available (for now) - I Would have liked to milk it for the credit score boost.
I am also surprised at the high fee for a deposit other than my salary deposit - R18
Finally, I hate the fact that EMAIL notifications are not an option (only SMS - and at 40c a pop NO THANKS!)
Click to expand...

They've been talking for years about the credit card now. IIRC they said they'd launch by Q4 2014...

Most people take up a virgin credit card for their lending/transacting needs.

BTW. Credit score is only significantly affected by credit card if you have a credit balance exceeding 60 days. If you plan on swiping your cc and paying within 55 days, then your score's not affected at all.
 
Ding. hit 100K again in the account. Waiting for interest. think I should have a nice meal at spur or something.
 
I have been using this as my main account for the last couple of weeks. So far so good. Pity about the awkward app/website workflow but all in all does what I need from a bank. Would love free email notification though :o
 
Ok, I'm a bit worried now.

I just went to ABSA to close my Current Cheque Account. Now this lady tells me that Capitec has a negative impact on my credit score when it comes time to buy a house, etc. My spidey senses tell me she's talking a load of S***, but I have to confirm with the guys on here.

PS. My current credit score is 927.
 
Tariq786 said:
Ok, I'm a bit worried now.

I just went to ABSA to close my Current Cheque Account. Now this lady tells me that Capitec has a negative impact on my credit score when it comes time to buy a house, etc. My spidey senses tell me she's talking a load of S***, but I have to confirm with the guys on here.

PS. My current credit score is 927.
Click to expand...

She's talking ****.

You also need to report her to the bank manager, and further up at ABSA.
 
Tariq786 said:
Ok, I'm a bit worried now.

I just went to ABSA to close my Current Cheque Account. Now this lady tells me that Capitec has a negative impact on my credit score when it comes time to buy a house, etc. My spidey senses tell me she's talking a load of S***, but I have to confirm with the guys on here.

PS. My current credit score is 927.
Click to expand...

Sounds like bullsh*t to me. Capitec even does homeloands now together with SA Homeloans.
 
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