banking

[murdock]

you gotta love the way the banks get creative with their charges...i went over my limit by R137.80 this month so the didnt return anything....whoooppeee i thought great...what i didnt realise was that the honoury fee is R250....return fee R115 go figue....the reason...my credit rating is high again with the bank...in other words i only have 2 didgits to go and i am a prime customer.

so i apply to incease my overdaft because i am busy with a big project worth a lot of money...and need to have some panels buillt and pay for them....upfront if i want to benefit for the discount...now remeber my over daft was reduced by R50 000 as requested by me....a while back....i need to increase my overdaft by R10 000 just to get me through the next 2 months...i have been waiting 2 days for a reply...and the bank manager was the one who mentioned how well i manage my account...i would have thought a small increase like this would have been a step in good account management...seemss not.

what an insult...first i am told i am almost a prime customer...then i have a hole ripped in by backside by charging me more than twice the price of a returned item...and then i sit and wait while they decide wether or not to increase my overdraft to a limit which is only a small percentage of my turnover...i get the feeling this rating system is a con to rip me off again...just to put the system to the test i am gona apply for credit cards and petrol cards...to see if this rating actually means anything or if it is just another way the bank can rip me off...


as i mnetioned in one of the other threads...i would love to run into the bank manager who told me 20 years ago i would never make it...i have 13 days to go and my bussiness is 20 years old.

[murdock]

while on the phone to the bank manager i mention the way i am getting ripped off with fees...cash withdraw...eft...etc.

this is the what standard bank service is all about...the reply to my question "why dont you get a bussiness cerdit card...only a small yearly fee is charged" my reply why was i not told about this by the person who manages my account...we are talking thousands of rand saving over a period of a couple of years....because i didnt ask.

so i ask where do i sign...sorry you have to fill in a form and apply for it...and they will do a credit check to see if i qualify...my response but i have had my account with you people for 12 years...bonds...vehicle finance...cheque accounts...savings accounts and i am told i am a good customer who has a good credit rating and i manage my account well...

so back to my rating why be a high rating with the bank it seems you just get scr*wed more than others

[Dave A]

the reply to my question "why dont you get a bussiness cerdit card...only a small yearly fee is charged"

It must be a drive at the moment. It's been suggested to me three times so far this year - when I b*tched about the new cheque deposit fee, a seperate phonecall specifically on the subject, and then again as part of the "we're suspending the cheque deposit fee" phonecall.

[wynn]

The trouble seems to be:-
We think by dealing with the bank we are BANKING
They think by us dealing with them it allows them to go BONKING!

[wynn]

Banking giant Absa, identified as one of the two most expensive banks in South Africa in the Solidarity Movement's first report on bank charges last year, has retained its title.

“Moreover, the bank charges of Absa's cheapest account went up by 8%, while Capitec's bank charges were not increased at all this year,” the trade union said on Thursday as it released its second report on bank charges.

The report compared the bank charges of different personal bank accounts of the five large commercial banks, Absa, FNB, Standard Bank, Nedbank and Capitec with each other.

“When comparing the cheapest accounts of the five banks included in the Solidarity Research Institute's report, Capitec's Global One account comes out as the least expensive.”

According to the report, Standard Bank and Absa were still overall the most expensive of the five banks included in the study, and Capitec and FNB were the cheapest. - I-Net Bridge


http://www.iol.co.za/business/compan...rges-1.1161380

[Blurock]

Banking giant Absa, identified as one of the two most expensive banks in South Africa in the Solidarity Movement's first report on bank charges last year, has retained its title.

“Moreover, the bank charges of Absa's cheapest account went up by 8%, while Capitec's bank charges were not increased at all this year,” the trade union said on Thursday as it released its second report on bank charges.

The report compared the bank charges of different personal bank accounts of the five large commercial banks, Absa, FNB, Standard Bank, Nedbank and Capitec with each other. .....

Quote from Independent Newspapers October 21 2011 at 12:05pm
ABSA Group CEO Maria Ramos. Photo: Simphiwe Mbokazi.
Absa Bank defended its relatively high banking fees saying on Friday they focus on “value for money, rather than price”.

“We believe there is sufficient evidence that we provide value to our customers with choice, convenience, accessibility and security,” a statement said. Unquote.

What bulls#!t! Rather reduce your R20 mil + annual package and employ more staff to serve your clients.

[Phil Cooper]

Absa most costly.

Standard second most costly.

Capitec the cheapest - but they ONLY do private accounts.

[Traffic Sense]

Bank charges at Absa are ridiculous! FNB doesn't have the best service but their charges are reasonable and they have rewards such as ebucks.

[Blurock]

Bank charges at Absa are ridiculous! FNB doesn't have the best service but their charges are reasonable and they have rewards such as ebucks.

In my experience FNB also beats Absa on service.

[flaker]

Nedbank

[

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”

[/QUOTE]

i'm with Nedbank & the SMS authentication system has always been 100%.the big gripe i have is to do with instant payments when making payments to accounts with another bank.there is NO instant payment mechanism,so when i pay into an a/c held in a bank other than nedbank, my account is immediately debited, but receiving party is only credited the next day

[Justloadit]

i'm with Nedbank & the SMS authentication system has always been 100%.the big gripe i have is to do with instant payments when making payments to accounts with another bank.there is NO instant payment mechanism,so when i pay into an a/c held in a bank other than nedbank, my account is immediately debited, but receiving party is only credited the next day

This is a standard mechanism with any bank payment to another bank payment. Depending on the time of the day, and if a weekend is in there somewhere, it can take up to 48 hours.

FNB has a tick box for this, but only once you have created a beneficiary. They charge you for this service though, not sure if it is R35 or R65

[murdock]

banking must be the easiet and quickest get rich quick scheme i have ever come across...eft bank charges must be the biggest thing since the cell phone.

you hear people talking about wanting to get to a point where the money pours in even while you are sleeping...supplying water and electricity comes to mind...catch is you still need to supply build infrastructure and maintain water and electricity...eft charges are FOR FREE BABY (you know what i mean) banks are already set up...no tellers required...from R1 - hundreds of rands for a computer to generate a transfer...anyone worked out the actual cost for an eft...(what it costs the banks)

it is even worse than the council charging you R 350 reconnect fee and only paying the contractor who actually does the reconnect R12...eeeish talk about...price fixing...which in turn ceates a service which if they cant get access then throw a slip of paper on your driveway...then because your meter reading is higher than at the date of disconnect...your are then charged as a crimminal for reconnecting your own supply...and i ask myself how a person runs up a R60 000 municiple account...anyone see anything wrong with this picture...anyway going off the topic.

want to print money faster than the forrest can provide trees...start a bank...giving you more say in goverment than the president himsef...much like the anc is thought to be run by black africans...then why are key positions held by the absolute minorty in this country indians...i wonder who owns the banks and hold key positions in the banks....mmm...food for thought

[flaker]

This is a standard mechanism with any bank payment to another bank payment. Depending on the time of the day, and if a weekend is in there somewhere, it can take up to 48 hours.

FNB has a tick box for this, but only once you have created a beneficiary. They charge you for this service though, not sure if it is R35 or R65

So has Absa. i don't mind the fee , but Nedbank has no such facility.They tell me they're working on it .There are many times when i need to pay instantly for a vehicle in order that i may gain possession immediately on payment but this is not possible unless the seller sees the moneys in his account. So overnight i'm sitting with the seller having both my moneys & the vehicle, a not too satisfactorty situation for obvious reasons.

[AndyD]

I'm wondering why all the replies suggest most people only use one bank. Am i the only person that does business with two banks for the company and a third one in my private capacity?

[Blurock]

Agreed. Separate private accounts from business. Dealing with more than one bank increase awareness of charges and service offerings.