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.