Wanting to switch banks - Quick question about FNB

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zululami

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Good day

I would like to switch from Standard Bank to FNB after a 15-year 'relationship'. They screwed me, without my permission and they took me for granted. Anyway, I know that no bank/service provider is perfect - but none can be worst than Standard Bank.

My question is that - If I walked into an FNB branch today with all the correct documentation and compliance requirements - can I walk out with my cheque account/card today and actually move money from Standard Bank immediately?

I have done some research and I am convinced that it's FNB I want based on my lifestyle - so NO... I don't want a Capitec account...

Please help.
 
You won't be able to walk out with a cheque card - that will need to be embossed.

But you will most certainly have an account :)
 
@Zululami ... dude what you doing right now is what I did a few years ago. I too thought that Standard Bank was giving me the shaft. There's a few things you going to have to know here before marching on in to FNB. For one, FNB's Steve campaign worked like a charm. They targeted the middle to upper income group with their Gold, upgraded them Platinum (with Premier benefits), revised the benefits (loosing a few here and there) without decreasing the monthly charge. Now there's a Premier product at a higher monthly charge. So in short, in the long run, chances are FNB is going to f**k you too. :sick: :sick: Regarding the eBucks, they encourage you to use your credit card (to earn more eB). In doing so you get rewarded for staying in debt. Sure enough, ±55 days interest free in which you simply pay the card up etc. but hey you still get boned because effectively, they running a business (not a charity). All banks work pretty much the same in this country. So when you get to ABSA ...tell me what its like okay lol :D Either way ....good luck on the migration :whistle:
 
risami said:
@Zululami ... dude what you doing right now is what I did a few years ago. I too thought that Standard Bank was giving me the shaft. There's a few things you going to have to know here before marching on in to FNB. For one, FNB's Steve campaign worked like a charm. They targeted the middle to upper income group with their Gold, upgraded them Platinum (with Premier benefits), revised the benefits (loosing a few here and there) without decreasing the monthly charge. Now there's a Premier product at a higher monthly charge. So in short, in the long run, chances are FNB is going to f**k you too. :sick: :sick: Regarding the eBucks, they encourage you to use your credit card (to earn more eB). In doing so you get rewarded for staying in debt. Sure enough, ±55 days interest free in which you simply pay the card up etc. but hey you still get boned because effectively, they running a business (not a charity). All banks work pretty much the same in this country. So when you get to ABSA ...tell me what its like okay lol :D Either way ....good luck on the migration :whistle:
Click to expand...

Haha! Thanks for the heads-up ... Perhaps I should check the Absa website and see what they offer as well. But my mind is pretty much made up. I am not a person who likes credit, so I should be fine.
 
You should be able to move your money immediately but at best you'll walk out with debit card. The cheque / credit card takes up to a week in my experience. It's well worth the move to FNB (I'm an ex 25-year Standard Bank customer).
 
risami said:
@Zululami ... dude what you doing right now is what I did a few years ago. I too thought that Standard Bank was giving me the shaft. There's a few things you going to have to know here before marching on in to FNB. For one, FNB's Steve campaign worked like a charm. They targeted the middle to upper income group with their Gold, upgraded them Platinum (with Premier benefits), revised the benefits (loosing a few here and there) without decreasing the monthly charge. Now there's a Premier product at a higher monthly charge. So in short, in the long run, chances are FNB is going to f**k you too. :sick: :sick: Regarding the eBucks, they encourage you to use your credit card (to earn more eB). In doing so you get rewarded for staying in debt. Sure enough, ±55 days interest free in which you simply pay the card up etc. but hey you still get boned because effectively, they running a business (not a charity). All banks work pretty much the same in this country. So when you get to ABSA ...tell me what its like okay lol :D Either way ....good luck on the migration :whistle:
Click to expand...

Errrm... you're doing it wrong.
Having a credit card in no way means you have to be in debt.
You also do not have to spend more than you usually do or be in debt to earn ebucks.

I earn an average of R900om back in ebucks (other people on here earn up to R3000)
Credit card used for 100% of my swipes and I am never in debt. if you are, it's because you need some tips on how to manage your money.

It's quite simple really.
Get paid > Transfer cash to CC > swipe using straight facility only and use your positive balance.
Don't first use money that does not belong to you and then blame the bank for having to pay it back.

I pay R200pm for my premier bundle and service fees are R0-R20 max.
I earn R900 back from the bank in ebucks + interst on savings, vehicle finance (advanced amount) and credit card positive balance.

It works if you make the bank work for you :)
 
zululami said:
Good day

I would like to switch from Standard Bank to FNB after a 15-year 'relationship'. They screwed me, without my permission and they took me for granted. Anyway, I know that no bank/service provider is perfect - but none can be worst than Standard Bank.

My question is that - If I walked into an FNB branch today with all the correct documentation and compliance requirements - can I walk out with my cheque account/card today and actually move money from Standard Bank immediately?

I have done some research and I am convinced that it's FNB I want based on my lifestyle - so NO... I don't want a Capitec account...

Please help.
Click to expand...

Oh the irony... with Capitec you walk out with your card.
 
Last edited:
zululami said:
Haha! Thanks for the heads-up ... Perhaps I should check the Absa website and see what they offer as well. But my mind is pretty much made up. I am not a person who likes credit, so I should be fine.
Click to expand...

Don't be afraid of credit. Learn to manage your finances responsibly. If you purchase a house or a car, the first thing they look at is your credit rating. The banks use your credit rating to calculate your interest rates and if you can knock a percent off that over 20 years your can save yourself thousands of rands for your 'good' credit behavior.

I'd recommend you get yourself an FNB Gold cheque/credit account (Platinum is totally unnecessary). Work your way to eB Rewards Level 5 - and use your eB to buy Makro/Checkers vouchers at 40% discount. Pay off your credit card weekly and don't buy beyond your means. It's really that simple.
 
I have had good and bad experiences with FNB. If you want to save yourself a lot of frustration go the online root. FNB has a very good online migration system to open an account and switch everything you need. they also generally deliver you cards to your door. This unfortunately can take a wail if thing go wrong. I waited 3 weeks the last time my cards was sent because of issues with their delivery system
 
@PsYTraNc3
Thanks for the heads up ... I've learned something here.
Maybe its time to take a different approach to the CC stuff :)
 
Napalm2880 said:
Don't be afraid of credit. Learn to manage your finances responsibly. If you purchase a house or a car, the first thing they look at is your credit rating. The banks use your credit rating to calculate your interest rates and if you can knock a percent off that over 20 years your can save yourself thousands of rands for your 'good' credit behavior.

I'd recommend you get yourself an FNB Gold cheque/credit account (Platinum is totally unnecessary). Work your way to eB Rewards Level 5 - and use your eB to buy Makro/Checkers vouchers at 40% discount. Pay off your credit card weekly and don't buy beyond your means. It's really that simple.
Click to expand...

I do have some credit. A bond, Car finance, Vodacom and Kurt Geiger :) . I just have something against credit cards... but will think about it. Thank you for the advice. Will come back and report how it all goes.
 
zululami said:
Haha! Thanks for the heads-up ... Perhaps I should check the Absa website and see what they offer as well. But my mind is pretty much made up. I am not a person who likes credit, so I should be fine.
Click to expand...
Stay away from absa. It's taken me almost 4 months to finally close all my accounts, yet they are still holding onto an insurance policy which was in place to cover my bond.

PS: I moved to Std!
 
PsYTraNc3 said:
Errrm... you're doing it wrong.
Having a credit card in no way means you have to be in debt.
You also do not have to spend more than you usually do or be in debt to earn ebucks.

I earn an average of R900om back in ebucks (other people on here earn up to R3000)
Credit card used for 100% of my swipes and I am never in debt. if you are, it's because you need some tips on how to manage your money.

It's quite simple really.
Get paid > Transfer cash to CC > swipe using straight facility only and use your positive balance.
Don't first use money that does not belong to you and then blame the bank for having to pay it back.

I pay R200pm for my premier bundle and service fees are R0-R20 max.
I earn R900 back from the bank in ebucks + interst on savings, vehicle finance (advanced amount) and credit card positive balance.

It works if you make the bank work for you :)
Click to expand...

Same as me.
 
Thanks guys. Actually - didn't even need to go to the branch. Applied over the phone and got my cheque account approved just now. And I can pour money into it immediately - just don't have the card yet. How efficient! When they deliver the card, they will take the FICA documentation - I don't have to lift a finger!!! And they have promised to take care of my debit order switch - I sound like the Steve who used to annoy me :D
 
zululami said:
Thanks guys. Actually - didn't even need to go to the branch. Applied over the phone and got my cheque account approved just now. And I can pour money into it immediately - just don't have the card yet. How efficient! When they deliver the card, they will take the FICA documentation - I don't have to lift a finger!!! And they have promised to take care of my debit order switch - I sound like the Steve who used to annoy me :D
Click to expand...

Just remember some debit orders they cannot switch.

In my case it was liberty life and momentum ,I had do them manually.
 
zululami said:
Sweet. I have momentum for car insurance - will have to call them.
Click to expand...

Just a heads up. I was with Momentum Short-term Insurance (aka Outsurance) until they decided to increase my premium by over a thousand rand due to 2 windscreen replacements in the previous 12 months. Most other insurance companies don't nail you for windscreen replacements. Momentum STI classify glass repairs and replacements under "accident damage" which just just ridiculous.
 
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