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Thread: Comparing SA Banks

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    Email problem mother's Avatar
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    Comparing SA Banks

    In your opinion (experience), which bank offers the best all-round service for personal banking and for business banking? Specifically if you compare personal service, online security, bank charges... What else would you consider key criteria?

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    Capitec for personal FNB for business (purely because Capitec does not do business accounts) and Capitec for merchant services.

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    Email problem mother's Avatar
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    Wow Pap_sak, you are obviously VERY happy with Capitec. Funny, I've never even considered them.

    (You see, growing up in a small town, you never realize that there's life beyond "Volkskas". It took enormous courage way back to break with Volkskas and move to Trust Bank... only to end up back in the same friggin pot again! Hehehe. But for some reason I've never considered any bank other than the obvious household names ... Absa, Standard, FNB, Nedbank)

    It's time I opened my mind a bit! Was it not Capitec that launched that marketing campaign a while back to show how their bank charges are the lowest, since they do not occupy extravagant premisses?

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    Site Caretaker Dave A's Avatar
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    I was looking at business account costs not that long ago, and FNB came out trumps. Standard Bank is the most expensive just at the moment.

    Part of the problem is the situation is pretty fluid. It wasn't that long ago that Standard Bank was the cheapest, but in my situation moving business accounts around isn't exactly straight forward.
    The trouble with opportunity is it normally comes dressed up as work.

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    make sure best value = best service, and don’t get conned into paying for platinum service when you only need a reasonable one. I say that (sceptically) as I find all banks offer the same packages one way or another

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    Email problem mother's Avatar
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    You know, I remember way back when I started earning a salary, how truly aspirational those silver / gold / platinum packages were. Nowadays, it seems everyone qualifies for gold, as if the criteria have dropped radically ... or have my perceptions just changed?

    I am seriously considering moving my personal accounts somewhere else. But like Dave mentioned, changing your bank is no joke. My business is with "Bank A", and I am quite happy with them. Service great, and bank charges acceptable. The bank fees on my personal account "Bank B" are 5 x higher than the bank fees of my business account, with less than 10% the number of transactions. Shocking!

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    Gold Member Singhms's Avatar
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    Capitec Merchant Services?

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    Diamond Member wynn's Avatar
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    Dave, how about running a poll on this matter, a 1 to 10 type thing where you name your bank/banks and give them a rating for service, care, cost, response etc.

    ???
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    As Business consultant and ex banker I get to deal with a diverse group of clients who all have different banking requirements. I agree with Dave; FNB is by far the cheapest and Standard Bank the most expensive, closely followed by Absa. I have also had good reports on Capitec, although I have not dealt with them yet. Absa's internet banking for small business is by far the most expensive and is pricing them out of the market. With FNB internet banking is free.

    Unless you have turnovers running in the region of R100 mil, forget about building personal relations with your bank as in the old days. Today you are just a number. Banks have turned into call centres where you push buttons for various services. If you do have someone that listens to you at any bank, hold on to him/her as they are precious and a dying breed.
    Excellence is not a skill; its an attitude...

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    Site Caretaker Dave A's Avatar
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    Quote Originally Posted by wynn View Post
    Dave, how about running a poll on this matter, a 1 to 10 type thing where you name your bank/banks and give them a rating for service, care, cost, response etc.
    I think the vBulletin poll functionality is too simplistic for that level of survey detail. It would take something like monkeysurvey to pull that one off.
    The trouble with opportunity is it normally comes dressed up as work.

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