So I went to Capitec

So basically for anything above around 120.00 use Capitec.For anything below that the other banks 2.5 - 2.75 % based fee is better.
 
I suppose nothing in life is free and the Capitec low fee gravy train has finally ground to a halt.

For most people I would imagine this will add R10-20 on to their monthly Capitec fees and a whole lot more than that if you are unlucky.
 
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mervman said:
So basically for anything above around 120.00 use Capitec.For anything below that the other banks 2.5 - 2.75 % based fee is better.
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Which with things like Netflix and cheap Steam games make up the majority of transactions. Capitec used to be cheap but then they even lost their claim with recovering your fees from the interest. Now it's just shite expensive.
 
Swa said:
Which with things like Netflix and cheap Steam games make up the majority of transactions. Capitec used to be cheap but then they even lost their claim with recovering your fees from the interest. Now it's just shite expensive.
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Tyme bank it is for you then? I can't see FNB Easy account working out cheaper than Capitec. Sjoe, and if Capitec is shite expensive, I do not want to know what other banks cheque accounts should be called then.
 
supersunbird said:
Tyme bank it is for you then? I can't see FNB Easy account working out cheaper than Capitec. Sjoe, and if Capitec is shite expensive, I do not want to know what other banks cheque accounts should be called then.
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Capitec for general money storage and then other banks for daily transactions. Still have to see what Bankzero comes out with. If a transaction is larger than R150 I can exploit it by not paying additional fees and only the R3. Somehow I don't see this working the way Capitec had hoped it would.

derp90 said:
I just got charged this after a Payfast transaction with a local hosting company. Wtf is going on
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I think it's become clear that this is not a Mastercard fee being passed on but an extra money making attempt. Only they have no idea what transactions are really international and are guessing based on the merchant.
 
Swa said:
Capitec for general money storage and then other banks for daily transactions. Still have to see what Bankzero comes out with. If a transaction is larger than R150 I can exploit it by not paying additional fees and only the R3. Somehow I don't see this working the way Capitec had hoped it would.


I think it's become clear that this is not a Mastercard fee being passed on but an extra money making attempt. Only they have no idea what transactions are really international and are guessing based on the merchant.
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This is ridiculous. I phoned them and they were like we can dispute this charge but it will cost you R80!!!

I will try phone their forex department on Monday. I've been charged this fee several times now for random transactions that weren't international.
 
Has anyone noticed there is an "Interest Charged for Purchases" entry on their Capitec Credit statement. It's not much, like 0.81 and 3.81. I've only noticed it now for March and February. Took out the card last year and checked previous statements and this entry in not there. All purchases made were at local stores and less that R1000 in total for the month and was paid up in total by the end of that month. Any idea what it is?
 
Magandroid said:
Has anyone noticed there is an "Interest Charged for Purchases" entry on their Capitec Credit statement. It's not much, like 0.81 and 3.81. I've only noticed it now for March and February. Took out the card last year and checked previous statements and this entry in not there. All purchases made were at local stores and less that R1000 in total for the month and was paid up in total by the end of that month. Any idea what it is?
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You should be getting the normal 55 days interest free on purchases.
 
Magandroid said:
Has anyone noticed there is an "Interest Charged for Purchases" entry on their Capitec Credit statement. It's not much, like 0.81 and 3.81. I've only noticed it now for March and February. Took out the card last year and checked previous statements and this entry in not there. All purchases made were at local stores and less that R1000 in total for the month and was paid up in total by the end of that month. Any idea what it is?
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Cash withdrawals etc?
 
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