Bank Advertisements

[Faan]

The country experiences the so called difficult times in the economy and we are all advised to cut costs, etc.

About a week or two ago I was surprised to notice a bank, I think it was ABSA, with a full two page advertisement in the Rapport. Today there is another one for ABSA with 2 pages. Standard Bank today has ads in the Rapport totalling 8 full pages. I do not know what they are advertising as I am not interested. Perhaps they pay it off with their credit card over 24 months! I think because of the number of pages they are given a special rate, but is it necessary?

My concern is that all the banks fight to get each others' clients, but the bottom end of the market cannot afford to open up a bank account as the bank fees are just too high. As far as I know it is also not worthwhile to have a savings account for a child, because if you do not have a reasonable amount of money in the account the fees are eating up all the money in the account.

[Chrisjan B]

Investigate Capitec for savings account, low service fees and good interest rate..

[Citizen X]

I can attest to the fact, that the staff of Standard bank lenasia, Trade Route mall are actually walking around the mall trying to offer people loans!!!
I must say though, i just love that "Steve" from ....bank advert, it's absolutely brilliant, nice one, to the creative team of that advert, you really accomplished your task!
I stand to be corrected, but Standard Staff are wearing these blue tshirts that say something along the lines of , speak to us and you'll get a loan in a few minutes. Encourage debt in during a global economic crisis!!!

[Dave A]

I suspect the banks would rather engage in marketing wars than in a rates war.

[Blurock]

Banks sometimes hire marketing firms to promote their products.

Like the monkey who once phoned me to offer me a credit card. When I told him I already have a card, he persisted and told me that I can use the one card to pay off the other!!

[flaker]

In 1990 I decided to quit my clerical job that paid me a princely sum of R2500 per month to go into business. Thanks to Nedbank I also enjoyed an overdraft facility of some R5000 at the time. To purchase the business I required around R40,000 as a deposit and some working capital.I sold the 1 kruger rand I owned, borrowed from family & associates to try to make that sum and also approached Nedbank to increase my facility to R10,000 as I was getting into business with investments etc. To my dismay, not only was this declined, but my existing facility of R5000 was taken away, as according to Nedbank, since I was now getting into business & not guaranteed a fixed monthly income, I had become high risk!! The idiots. No thanks to them, in 8 months I had cleared all borrowings.

Very recently my domestic helper asked the boss (spouse) for her monthly pay slip. When questioned why she needed this as she never wanted these slips that were always issued, the boss was told by the helper that it was needed to apply for a R5000 loan at Nedbank. When I was told this, my advice to the helper was that the bank would NEVER grant such a loan. Moneys were already owed to the boss by helper for loans already advanced.

I'm embarassed to confess that I was wrong. The help was granted a loan without much ado.

[Blurock]

Banks will finance your flashy car with the low profile tyres and go fast dipstick. They will even approve of a 25% residual over 72 months!

However, try to finance a machine or equipment for your business - equipment that will create jobs and generate an income...

It is easier to stick your finger up your ear!