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Thread: bank charges

  1. #1
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    bank charges

    you wonder why there are all sorts of media talk about corruption etc with banks and charges...

    because bank fees and charges are becoming like the petrol price...you first have see what the best option is...do i drive to get something or do i get it sent via courier or post...the petrol price is affecting the way i move around in the day...plan trips before i leave...make a list of where i have to go then find the most productive way to achieve it...and if a customer calls and wants me to attend to something which will cause me to deviate...they pay

    well bank charges are becoming the same...i need to purchase something form a supplier and pay cod...so i now look at how much it is gona cost me to draw cash or transfer the money to my credit carde or just pay with my mastro card...

    to my surprise...i found that to draw R2000 from standard bank now cost R26.50 to eft R1000 cost R12.00...eeeeish i think i am gona start dealing in cash with customers...offer them a good discount if they pay me cash...then i save in banmk fees and charge.could this become a reality in the near future...where it just becomes unaffordable to use banks.

    a standard bank eft of R260 cost R6.66...and they just keep climbing.

    to draw R1000 cash from stanard bank = R15.60
    to transfer R1000 eft cost = R12.00

    so it will pay me to draw R1000 and use cash to pay for all the smaller amounts...or just use the credit card BUT it cost R12 to eft the money to my credit card...so back to rather just draw the cash.

    if i do 4 x R260 efts it will cost me R26.64 and only R15.60 to draw the money cash...in the old days it was cheaper to do an eft.
    Last edited by murdock; 05-Jul-12 at 05:30 PM.

  2. #2
    Diamond Member Blurock's Avatar
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    Murdock, you are with the most expensive bank in the country. An EFT should be FREE as you are saving the bank the cost of holding the money, transporting it to a branch, paper and related security costs. EFt's also help banks to reduce tellers and front line staff in branches. So these charges are a rip off and should be seen in the same light as the Barclays fraud in GB where they manipulated the LIBOR rate. Same goes for cheque deposit fees.

    We as consumers must do something about it. Time to change banks. It is not as difficult as you may think. They do everything for you. Switching of debit orders the lot.

    I am quite prepared to assist you in this regard. Send me a private message with your contact details.
    Excellence is not a skill; its an attitude...

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    No way, you can get Elite banking from standard bank for 100 bucks a month and you'll get petrol card, cheque card, credit card, free card renewal and unlimited transactions plus sms service, telephone banking and you name it. I used absa before now they are expensive and absolutely useless, fnb can do stupid steve adverts but they are also useless, yesterday i waited 34 min on the phone until they answered. I've had the best service with standard bank and have never had an issue with them.
    ---There is no traffic at the extra mile---

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    not complaing about the service at standard bank...in fact i deal directly with the bussiness bank manager...its just the fees which i have to figue out a way to manage...

    bussiness account?

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    Diamond Member Blurock's Avatar
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    Quote Originally Posted by murdock View Post
    not complaing about the service at standard bank...in fact i deal directly with the bussiness bank manager...its just the fees which i have to figue out a way to manage...
    bussiness account?
    Why can your business account manager not solve your problem? It is his job after all.
    Excellence is not a skill; its an attitude...

  6. #6
    Email problem Phil Cooper's Avatar
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    ABSA more expensive than Standard.

    When asked tojustify being the most expensive bank in the country, they said "You have to pay for quality".....

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    Diamond Member Blurock's Avatar
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    Quote Originally Posted by Phil Cooper View Post
    ABSA more expensive than Standard.

    When asked tojustify being the most expensive bank in the country, they said "You have to pay for quality".....
    Absa has no quality, only problems. I have closed my accounts after 27 years due to overcharging and poor service.
    Excellence is not a skill; its an attitude...

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    Quote Originally Posted by Blurock View Post
    Why can your business account manager not solve your problem? It is his job after all.
    funny you should say that...my wife asked the same question...

    the managers response...they are standard fees standard are available for all to see...there ar eno hidden costs...just very expensive.

    my wife has moved back to standard bank from fnb...after fnb charged her R50 to assist with a pin code problem.

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