So I went to Capitec

Make 3 masterpass payments (minimum R30)
Get a R100 Woolworths voucher

Ends 12 nov
 
So I always kept my FNB account on the downgraded EASY level for my annual SARS refund etc since I moved to Capitec in 2015. Last night I just realised that FNB now charges the same R3.50 for debit orders and same R1 for EFT's as Capitec. The FNB linked savings pocket gives me a better interest rate than Capitec. Plus, FNB gives free notifications via the APP (and I get free sms's for some strange reason) and their App and online banking is miles ahead.

So, still irritated by this whole expired card fee BS, I have moved my debit orders back to FNB and switched my salary back there too (Fortunately I only have 3 debit orders so easy to change). It was a good 4 and a half years, but its time to move on. I may keep R50 in the account to keep it ticking along as a backup, but I'm walking away as a daily driver.
 
So have capitec now lost their place as the cheapest reliable bank?

(from their social media pages, They seem to be launching something soon... Hope it's something more than an update to the app)

Edit: no one beats capitec international exchange rate, nor even anywhere close.
 
Last edited:
Antelope said:
So have capitec now lost their place as the cheapest reliable bank?

(from their social media pages, They seem to be launching something soon... Hope it's something more than an update to the app)
Click to expand...
As I said above, in my case, FNB Easy account just beats Capitec now because of no notification charges. The savings pocket at FNB offers higher interest earn tiers than Capitec. To maximise interest just requires moving debit order money into the savings pocket and then moving it back into the EASY account on the debit order day so it can be taken. Simple recurring calendar reminder solves that.

I find it fun trying to give the bank as little fees/charges as possible while earning as much interest as possible.

1 aside: an EFT to Virgin Money from Capitec reflects the next day on the VM side. An EFT from FNB to VM takes 2 business days. So there is a day of interest lost while the Rands float between the 2 accounts but it is what it is.
 
Antelope said:
So have capitec now lost their place as the cheapest reliable bank?

(from their social media pages, They seem to be launching something soon... Hope it's something more than an update to the app)

Edit: no one beats capitec international exchange rate, nor even anywhere close.
Click to expand...
Doubt it.

Antelope said:
Is the new app available?
Or when will it be?
Click to expand...
They said this month.
 
Got this e-mail:

tap to pay with our new global one card

You don’t have to pay more just because you earn more. And you don’t need to earn more to get our new card – it’s for everybody.
It will be available from 17 October, with the last roll out to the Free State, North West and Northern Cape from 24 October.

Our new card simplifies your banking, is convenient, safer and puts you firmly in control of your money.
• Tap and go for fast, easy payments when you’re in a hurry

• Go cashless. You don’t need to carry notes or coins. You also pay zero transaction fees for card payments

• You choose. If you don’t want to tap, you can use your card for normal chip-and-PIN transactions instead.

• It's the best card to travel with. You pay no currency conversion fees when traveling abroad

• Payments are secure. The card’s built-in chip ensures all your personal data is full encrypted

• You’re in control of your card. You don’t have to hand it over to someone else to pay

• Easily activate or deactivate the tap-and-go function on our app or at a branch

• Manage your card and all your banking on our app, anywhere
Click to expand...
 
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