My take on FNB and the need for a backup bank!

[Houses4Rent]

Hi JustLoadIt

I have no problem to FICA the first/main beneficeries, but not all the seconday/spare ones overseas who really only kick in when the first ones get wiped out all in one go. And as I said FICA is in my opinion for RSA and SAffers, not the world.
I mentioned have already lined up an alternate Independent Trustee who is more an accountant than a legal firm. They feel they are not an accountable institution and hece will never start the FICA hassle.

I once had a so caled personal banker and each time I called her she tried to push we to the call center. Then she left and I never got the direct number of her successor. If you have a direct number to someoen in yoru bank who also is willing and able to help you can consider yourself lucky.

I never put all my accounts to opne bank for many reasons.

[Pap_sak]

Had to go to SARS the other day to RICA as they have no problems getting payments for 5 years every 2 months for vat - as soon as they have to give a refund I need to RICA - So get to get statements from FNB, they cannot get me a statement with my address. Have been dual banking with capitec for a while as a had an overdraft at FNB - but charges way lower at Capitec. Go to Capitec, out in a minute with statement. Go to SARS, 45 minutes later all Rica'ed. Go back to FNB and close my account - took them ages because they could not find my address - I mean seriously! Still have C card which I like to keep as a back up - but costs R400per year so tried getting a free Virgin Card for a back up - horrible staff, super unfriendly. So cancelled and will stay with FNB - just for the C Card.

For me, Capitec is still far the best bank for me and my small business.

[Blurock]

I had a call from the bank the other day to tell me to come in with my ID etc to be FICA'd.

I just lost my cool and blasted the poor guy (I do apologise guy) as he interrupted my busy day.
I have to call on the bank every so often as I am a signatory on more than one account. Every time I have to produce my ID and they confirm my address and contact details.
What do they do with all the copies they make of my ID? I refuse to go stand in a queue for FICA, so go jump in the lake!

[Justloadit]

At least they phone you, with Stranded bank they simply suspend your account, so I could not pay my creditors. Went there and it seems my last FICA a year ago was not in the file, so WTF did they do with my paperwork I gave them?

[IanF]

I wonder if the banks read threads like this, as most problems seem to stem from incompetence from the banks side.

[wynn]

The problem with banks is that they are run by accountants who cannot see anything but the thin black line between income and expenses.

[ians]

The other thing that will change a big organisations attitude and customer services is the drop in revenue.

If shareholder see a drop in revenue someone collects, things change. A few whining customers and a mass of unhappy who just keep quiet and keep using the product doesn't change shareholder profits.

[Justloadit]

As a customer, I have no choice really, all 5 banks are incompetent in my books. The one which I feel is the the least incompetent of the lot is FNB.
Thank goodness their internet site works smoothly with the occasional hiccup once or twice a month, and I see that the other banks are are following the trend.

In fact anything that is self service is the only thing which really works.

Maybe they should allow a manner to upload all the FICA documents when a renewal is required, save a lot of wasted time.

[Houses4Rent]

For me, Capitec is still far the best bank for me and my small business.

Trouble is after they strated well they are busy slipping into the same old same old as the main streams banks AND they do not do business banking.

[Pap_sak]

Your main account has to be in your name.
you then get 4 linked account with their own account numbers.
You can call them want ever you want including your business name.
People can pay directly into those accounts, you can have direct debts and do EFT's out of them.
If that's all you need and want from a business account - then yes, they do do business accounts.

As an added bonus you will also find they extremely cheap compared to the big 4 ( debt orders/ eft @ around R3) and you get 4.4% interest below R10k, 4.5% above. Monthly fee for all the account is I think R10

So things you cannot do: Cheques can only be paid into the main account ie your name and the debt card (for swiping) works of the main account only.

I won't pretend this is a solution for all business - but for many small ones it works fine.

[Houses4Rent]

Sounds like an idea, but I cannot open an account in my name for my business. This may work for a sole prop, but not for a CC, right?
I doubt a account for the business (Legal Entity) which is really only a sub-account of me (Natural Person) would pass the separation requirements.