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Thread: banking

  1. #1
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    banking

    right it is time...

    i need to find out which bank is the most affordable...

    i need a bank which offers the most competitive rates... there is no service when it comes to banks anymore so i am not concerned about who offers the best service...i am looking for a bank which is not gona cost me a fortune to conduct my bussiness...and has easy internet.

    any ideas?

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    Site Caretaker Dave A's Avatar
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    Remember when I compared foreign draft fees? The winner there depended on a number of factors. There might not be a stand-out winner in this case too.

    Maybe if we all post a few critical rates from the banks we're dealing with at the moment, that would help?
    Last edited by Dave A; 03-Jan-11 at 08:32 PM.
    The trouble with opportunity is it normally comes dressed up as work.

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    Diamond Member Justloadit's Avatar
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    I use FNB and find that the internet banking is free and is easy to use. A payment costs around R8.00 VAT included irrespective of the amount. Inter account transfer is about R4.00 It is extremely rare that I visit a branch. I hardly ever use a cheque book.

    I also use Absa, but they charge a monthly fee for the internet usage. The cost is also about the same as FNB for an EFT. Inter account transfer is no charge.I have never been to an Absa branch since I have had the account for some three years now.

    Either one works, and the in contact for both is pretty reliable.

    What I do note - if some one does an FNB EFT payment into my account between say 20H00 and 07H00 (out of banking hours), then the funds are in suspension until fairly late the next banking day - Absa it is immediately available 24/7

    I found that Stranded bank is not the best when it comes to the in contact messaging, and rates are much higher depending on the package you take on.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Gold Member Chrisjan B's Avatar
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    Capitec I think is a good option for personal use, as a start.

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    Diamond Member tec0's Avatar
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    Just stay away from ABSA bank they are horrible!!!!
    peace is a state of mind
    Disclaimer: everything written by me can be considered as fictional.

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    i will be looking into both bussiness and personal...i need to find a bank with better rates than standard bank... i am with standard bank and boy they seem to be getting more expensive by the day...what i do just to remind me how expensive they are is to log in then go to history and the banking fee indicates what each transaction costs

    for example a R350 debit order cost R6.96
    eft R700 cost R9.46
    to draw cash R200 cost R6.54
    R1000 cost R14.70

    then there is still service fee which changes every month but normally between
    R300 and R500 per month

    this is a bussiness cheque account.

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    Diamond Member Justloadit's Avatar
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    Quote Originally Posted by tec0 View Post
    Just stay away from ABSA bank they are horrible!!!!
    Can you be more specific than just horrible.

    All banks are horrible when they do not do what we think they are supposed to do.
    We always think that the bank is there to help us, just remember they are a business, and they sell money, or more accurately, supply a service with access to money. Would you give your stock to a shaky customer on credit? So why do we expect the banks to be any different with their stock, which happens to be money.

    I am not trying to defend the banks here, what I am trying to say is that we think that the banks are our friends and that they will part with their money when ever we need it, and when they do not do it, we complain about them.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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    Gold Member Chrisjan B's Avatar
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    Banks are one of the company's that is like 007 - licensed to steal.... one of my gripes is that they charges me R 9-85 to pay R 900-00 int o my own credit card via their own ATM. And no I am not moving to another bank - rather the devil I know than the devil I don't......... I am a not proud CUSTOMER of ABSA - or a a client. I have been working for them for 15 years before I resigned to start my own business, most possibly where my pet hate started....
    Others are Telkom, cellphone company's etc.

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    Diamond Member tec0's Avatar
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    Right you don’t get a “smart card” if you are a Cheque Account holder so you have no security against card cloning. Secondly there “investment” account is a joke you lose money for every deposit you make and it will take about a year to recover that money.

    There banks are a complete mess-up you don’t get helped and the manager are NEVER available. There ATM’s are always “closed” on a weekend and they love to crash in the middle of a transaction “With a blue screen no joke!!!”

    Other than that there internet banking and SMS system is a joke “the SMS takes forever to send you the authentication code and you get 2 codes so sometimes your transaction simply take too long and you have to restart the process”

    And there helpline is anything but helpful.
    peace is a state of mind
    Disclaimer: everything written by me can be considered as fictional.

  10. #10
    Diamond Member Justloadit's Avatar
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    Quote Originally Posted by tec0 View Post
    Secondly there “investment” account is a joke you lose money for every deposit you make and it will take about a year to recover that money.
    I must admit I do not deposit cash or cheques into my investment account, but do an internal EFT, and I checked, the receiving and source account there is no charge. They do charge me for the email to inform me that I have done, as part of the internet banking. I do get a few Rond a month on this account.
    Quote Originally Posted by tec0 View Post
    There banks are a complete mess-up you don’t get helped and the manager are NEVER available. There ATM’s are always “closed” on a weekend and they love to crash in the middle of a transaction “With a blue screen no joke!!!”
    I may be lucky, as I pick up the phone and call my branch, and usually get helped quite quickly. I must admit that I do not use the ATMs so can not comment there.

    Quote Originally Posted by tec0 View Post
    Other than that there internet banking and SMS system is a joke “the SMS takes forever to send you the authentication code and you get 2 codes so sometimes your transaction simply take too long and you have to restart the process”
    And there helpline is anything but helpful.
    Do remember that the SMS engine which s controlled by the networks, are operated via email, so the delay may not be the bank, but the networks. I use email for my notifications, and must admit that that it has worked well for me, bar for one day that it was down a couple of months ago. My business is automated using this technology, and has been running successfully for a number of years, and I get 20 to 30 cash deposits into my account daily, and if my customers do not get their floats immediately my switchboard would light up.
    Victor - Knowledge is a blessing or a curse, your current circumstances make you decide!
    Solar and LED lighting solutions - www.microsolve.co.za

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