techy01

Active Member
Joined
Jan 1, 2018
Messages
48
I am sick and tired of bad service from banks and having to put up with issue after issue that cannot be resolved easily due to incompetence.

I’m almost convinced the one is as bad as the other.

Therefore I want to find out what banks (according to you guys - the experts - on here) is the best, or stand out a bit above the rest in terms of customer service and lack of regular “issues”?

Any suggestions of “new” or “digital” banks are welcome, however I do not qualify for private banking like RMB or Investec. Any advice or recommendation on the all round feel and experience of other banks would be appreciated.

All I am looking for is good service and to be happy with my bank.

Thank you in advance!
 

newklear

Expert Member
Joined
Apr 15, 2008
Messages
1,241
For me personally, I now chose a bank with the least amount of human interaction for the same reasons as mentioned in the OP.
At this stage there is no best bank, as every bank has a pro and a con. As our digital banks become more automative and feature-rich, I will be using them more.

So I make use of the best of both worlds for now.
FNB > Capitec > Tymebank.
 

techy01

Active Member
Joined
Jan 1, 2018
Messages
48
For me personally, I now chose a bank with the least amount of human interaction for the same reasons as mentioned in the OP.
At this stage there is no best bank, as every bank has a pro and a con. As our digital banks become more automative and feature-rich, I will be using them more.

So I make use of the best of both worlds for now.
FNB > Capitec > Tymebank.
Would you say the whole digital aspect with virtually no human interaction during the whole process is seamless and “nice” to deal with? I’m leaning towards them, but want to be certain before I make a final choice.
 

The Trutherizer

Executive Member
Joined
May 20, 2010
Messages
5,012
I can only speak of my own experience. And only advise that my experience is based on a wish to actively save as much as I can, get good interest on my savings. And for the rest get a lot of well thought out services for which I am paying reasonable fees, and getting good rates. Home and other financing. Insurance. All of which I did extensive shopping for, but ended up back at my bank since they were either the best I could find, or close enough for me to opt to keep it all in one place. Current account and credit card. The internet banking is adequate for my needs.

I am with Standard Bank. I have the Prestige account. The monthly fee is R209 (from next year onwards). However you can also opt to pay as you transact. And there is also a scaling rebate option if you keep a minimum of any of several limits at all times in your current account (however near as I can tell a fixed deposit of the same amount is a better option).

I have no regrets. No wish to change.

You mentioned qualifying for private banking.
Apparently the private banking benefits for the Private Account are rather good. I don't know. I don't feel the need to try it, the fees are too high for my taste, and you do need to earn quite a bit. Mostly a lot of convenience and added value services. Probably making it worthwhile for some. I don't know.
The Prestige Account, which at least gives you access to the prestige telephone hotline and one designated banker to help you with anything via email (which I can confirm has been extremely helpful) , needs 25k a month income or more.
There is also for under 30 year old individuals a Professional Account with no income requirement and gives access to a banking team via wechat or facebook.

I can tell you though. Standard Bank is actively busy scaling down their operations at their branches. I went from expecting a certain level of service at their branches (from long experience) and getting extremely frustrated; To being pleasantly surprised at how good the service is you can get from a banker online via email. It seems the reality is now that you just can't expect a Standard Bank branch to be a one stop experience anymore. On the one hand this is sad. Maybe. On the other hand I have really enjoyed not having to go to the bank much in recent months since deciding to embrace the new online interaction paradigm. I have never enjoyed going to the bank for most purposes. Thus far (since then) the only times I have had to do so has been when I absolutely needed to sign for something. And at those times, since everything else was already arranged, the experience was painless. Then back to email if there's anything more I want to fine tune.

Not sure if that was helpful for your situation/requirements.
 

backstreetboy

Honorary Master
Joined
Jun 15, 2011
Messages
28,089
Why would you say Capitec? What makes them stand our or better than the competitors?
It's been all over the news unless you just came out of a cave... They're the biggest bank is SA with over 13 million clients and more than 5 million primary banking clients. They've been voted the world's best bank and this year the best SA bank again and the best in customer satisfaction. You get a nice looking black card with zero currency conversion fees. Unlike the competition that loves pushing "fusion" accounts Capitec gives you a much better separate credit card that allows you access to your six accounts. Not to mention no spam calls or emails and great IB and smartphone app with budgeting build in and a Masterpass app with Zapper, Snapscan and easypay payment capabilities. No brainer.
 

sammya

Well-Known Member
Joined
Dec 23, 2009
Messages
210
Avoid ABSA if you do not want any physical branch interaction.

The ABSA app is extremely limited. Internet banking also requires app verification and the verification process is stupidly clunky.
 

SauRoNZA

Honorary Master
Joined
Jul 6, 2010
Messages
40,462
It's been all over the news unless you just came out of a cave... They're the biggest bank is SA with over 13 million clients and more than 5 million primary banking clients. They've been voted the world's best bank and this year the best SA bank again and the best in customer satisfaction. You get a nice looking black card with zero currency conversion fees. Unlike the competition that loves pushing "fusion" accounts Capitec gives you a much better separate credit card that allows you access to your six accounts. Not to mention no spam calls or emails and great IB and smartphone app with budgeting build in and a Masterpass app with Zapper, Snapscan and easypay payment capabilities. No brainer.

Odd how the link is missing for the world’s best bank claim but not the others...since I recall FNB won that.

Also Fusion is the best thing ever to happen to banking.

And all those other features other banks do to.

They really aren’t that special.
 

smc

Senior Member
Joined
Sep 19, 2005
Messages
693
Why would you say Capitec? What makes them stand our or better than the competitors?

I'm with Capitec after ABSA and Nedbank. After about a year, fewer screwups than either of the more established players, and Capitec is cheaper. Although, they don't offer all services, so, e.g., foreign exchange is very limited.
 

backstreetboy

Honorary Master
Joined
Jun 15, 2011
Messages
28,089
Odd how the link is missing for the world’s best bank claim but not the others...since I recall FNB won that.

Also Fusion is the best thing ever to happen to banking.

And all those other features other banks do to.

They really aren’t that special.
Thread necro. Pretty sure the OP already found a bank by now...
 

zerocool2009

Executive Member
Joined
Sep 4, 2009
Messages
6,609
I am with Fnb / Tyme and African Bank

A bank is a bank. Think most of the big 5 have their own issues.

Ask yourself why do you bank with bank X? Then, are you working for them? Or them for you.
 
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