So I went to Capitec

cr@zydude said:
And what do you pay in account fees/card fees/admin fees?
Click to expand...
Around R140pm for cheque and cc
derp90 said:
These two statements contradict each other.

Also, what does FNB charge to receive an international USD payment?
Click to expand...
No separate charge but you have to pay the currency conversion fee whatever it is, same as with any bank.
 
derp90 said:
Yeah, it seems you will get way more money with Capitec using mid-market rates.
Click to expand...
Not for me. Most of my transactions are small ones like R15 on GOG so they end up charging me a 20% conversion fee.
 
Swa said:
Not for me. Most of my transactions are small ones like R15 on GOG so they end up charging me a 20% conversion fee.
Click to expand...
I'm very confused. I receive most of my income in USD through SWIFT transfers. Capitec is charging me R130 to receive the payment. I want to work out the best bank to receive this income in terms of forex rates and fees.
 
derp90 said:
I'm very confused. I receive most of my income in USD through SWIFT transfers. Capitec is charging me R130 to receive the payment. I want to work out the best bank to receive this income in terms of forex rates and fees.
Click to expand...

Depends on the money coming in.
Do you have an international bank account? Look at TransferWise maybe?
 
backstreetboy said:
Capitec doesn't charge it. They only use midmarket rates but now they have a R3 flat fee on top.
Click to expand...
What does mid market rates equate to percentage wise?
derp90 said:
I'm very confused. I receive most of my income in USD through SWIFT transfers. Capitec is charging me R130 to receive the payment. I want to work out the best bank to receive this income in terms of forex rates and fees.
Click to expand...
A swift payment is totally different system, there's no way around the fee. With FNB I think you can earn eBucks on Swift transactions.

You can maybe look at a Payoneer account if you regularly receive intl payments.
 
I see on my Capitec statement today that I am being charged a R3 Mastercard International Processing fee.

Just out of the blue.
I've been using my card the exact same way for invoice payments at service providers. Checked last month and these fees aren't on last month's transactions.

This is a bugger. Doesn't sound like much. But now I'm charged R9 each month just to use my debit card online?

Not cool.
 
|tera| said:
I see on my Capitec statement today that I am being charged a R3 Mastercard International Processing fee.

Just out of the blue.
I've been using my card the exact same way for invoice payments at service providers. Checked last month and these fees aren't on last month's transactions.

This is a bugger. Doesn't sound like much. But now I'm charged R9 each month just to use my debit card online?

Not cool.
Click to expand...
Most other banks charge a currency conversion fee of charge 2.75% so you'll have to see if the flat fee of Capitec is cheaper.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X