MyMoney Online

Capitec Bank is the best in South Africa by far, say customers. Here’s why…

Also read the following related article:

* Capitec Bank is growing fast and earnings are booming

Just over a month ago, the South African Customer Satisfaction Index (SACSI) released their findings on the banking industry.

It found that Capitec Bank has the highest satisfaction amongst customers and Standard Bank fared the worst.

Using a sample size of over 16 000 customers; Capitec and FNB came out tops, with scores of 82.2 and 79.3 respectively – both significantly higher than the average SACSI score of 76.3 out of 100.

Many people have been singing the praises of Capitec, one reason being their very affordable banking charges.

We spoke to Capitec Bank CEO Gerrie Fourie

“There is a very big service culture in our company,” says Fourie. “Every single person working in the bank gets extensive service training before they start their employment. We talk ‘service’ every single moment!”

Author’s note

I moved from Absa to Capitec Bank almost two years ago. I did my research and, at the time, Capitec Bank offered the best interest rates and the lowest bank charges, by far.

Switching banks was, against my expectation, easy as pie and perfectly seamless. The only issue I had was with Sars, as I had to go into a branch to verify my identity.

My bank charges are, I kid you not, less than R30 a month!

My wife, who runs her own small business, also effortlessly switched accounts from Absa to Capitec Bank. Her bank charges have plummeted from more than R300 a month to less than R50.

The service I receive at my branch (Adderley Street, Cape Town) is friendly and efficient.

This is NOT and advertisement and I own no shares in Capitec Bank (although I’m starting to wonder why).

Listen to the audio for more detail.


Recommended

by NEWSROOM AI

702 welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the 702 community a safe and welcoming space for all.

702 reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

702 is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

3 best shares to buy right now (by 27Four)

3 best shares to buy right now (by 27Four)

Investment Analyst Nadir Thokan shares his stock picks of the week on Bruce Whitfield’s The Money Show.

How to retire (or stop working for money) by the age of 40

How to retire (or stop working for money) by the age of 40

Warren Ingram recaps the principles “supersaver” Julia, a young client of his well on her way to financial freedom, is following.

Capitec Bank is growing fast and earnings are booming

Capitec Bank is growing fast and earnings are booming

About 100 000 clients join each month and, as a result, earnings are booming. We interview CEO Gerrie Fourie…

The top five banks in South Africa and how they got there

The top five banks in South Africa and how they got there

The people have spoken via a customer satisfaction index and, unfortunately, Standard Bank isn't moving forward. Would you agree?

Meet Jannie Mouton, the "Richard Branson of Stellenbosch"

Meet Jannie Mouton, the "Richard Branson of Stellenbosch"

The founder of PSG Financial Services and Capitec Bank is rocking the boat from Stellenbosch to the rest of Africa.

Popular articles
Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Survivor winner Tom Swartz vows to buy his wife 'new boobies and a family house'

Swartz says he would have done anything to get the R1 million prize money.

'There is no way Magnus Malan could've done the things he is accused of'

'There is no way Magnus Malan could've done the things he is accused of'

Former police minister Adriaan Vlok has rejected accusations that former minister Malan was at the centre of a paedophile ring.

4 tips for safely investing right now when everything is so hectic

4 tips for safely investing right now when everything is so hectic

Bruce Whitfield asks Personal Financial Advisor Warren Ingram for advice on how investors can safely navigate this hectic time.

[Listen] Lottery responds to Tshepo's fraud claims

[Listen] Lottery responds to Tshepo's fraud claims

Philemon Letwaba says Tshepo's case relates to some of the issues that they are dealing with on a daily basis.

'Citizens have a right to ask for identification from police during a roadblock'

'Citizens have a right to ask for identification from police during a roadblock'

Major General Michael Mohlala explains the procedure of conducting a roadblock and what to do when you are stopped.

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane says the City's mayor knew of the looted R12 billion

ANC Tshwane spokesperson Bafuze Yabo gives details of their planned action against the City of Tshwane.

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Jacques Pauw: We need more evidence on the 'The Lost Boys of Bird Island' book

Investigative journalist and author Jacques Pauw shares his thoughts on 'The Lost Boys of Bird Island' book.