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Which bank do you use?  

17 members have voted

  1. 1. Which bank do you use?

    • Capitec
      7
    • Absa
      1
    • Nedbank
      2
    • Standard Bank
      0
    • FNB
      7
    • Other
      0


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I'm not sure if one can directly transfer monies out of the Just Invest account ie:.. directly EFT into Easy Equities, hence the question.

 

Awaiting answers, will hopefully have some clarity today still.

 

Ahh, I see. I was not aware. I hope one can.

Otherwise, open up a capitec account :P

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I'm not sure if one can directly transfer monies out of the Just Invest account ie:.. directly EFT into Easy Equities, hence the question.

 

Awaiting answers, will hopefully have some clarity today still.

 

Thanks Purply. Great that everyone wants to help! :)

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I'm not sure if one can directly transfer monies out of the Just Invest account ie:.. directly EFT into Easy Equities, hence the question.

 

Awaiting answers, will hopefully have some clarity today still.

 

Ahh, I see. I was not aware. I hope one can.

Otherwise, open up a capitec account :P

 

Don't think Capitec accommodate businesses, eg. partnerships. They only cater for individuals. Did have a look at their website not, I see nothing for businesses.

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Technically all we need is a bank account that can accept payments and EFT out. With Capitec the lines are a bit blurry since this to me is not a "business" account.

 

I do understand the multiple signatories and all that, but cost effective seems standdard bank is the only option, but there interest rates are so low.

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Not to bash Nedbank, but I am not impressed with there response time and general responses thus far. I truly hope this will not be a reflection of their business.

 

I am now going to send FNB a mail to find out if they have a product that might work for us, surely between them and RMB there should be a account tailored for out needs.

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I've mailed my business manager, hopefully she can assist.

 

Purply, could you find out anything? Can be we perhaps phone her also? :)

 

Phoned this morning after receiving no email reply. It appears some of their staff is  away for "training seminar" and will only return tomorrow :(

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_32-day-notice-deposit_

Okay, Nedbank didn't answer my email, and they replied with a silly link on their facebook page.

I phoned them now and spoke to Lee.

 

She told me that we can add money to this account with EFT's from other banks.

 

This is not a transact account, so we will not get internet access to it, which makes sense. So once we accumulated our target, we will have to give notice for a certain amount, or the whole amount to be paid out. The local branch will help us with that. The lady could not confirm if they can pay it directly to the investment account at another bank at that stage, but we should check with the branch to confirm it. If they cannot pay it out to another bank/investment, then we can open a bank account (club account) at that stage, have it deposit into that account and make the payment ourselves.

 

My suggestion is as follows:

Lets open a club account. All contributions gets paid into it. And then transferred to the 32day account.

Reason: We have internet access to this account and can get information(bankstatements) and control if everyone paid in, etc. We leave the minimum amount of R50 in the account every month. Interest is almost nothing that we loose there.

 

Lets open a 32-day-notice account. We add every month one lump sum to it

Reason: Best interest rate.

 

Both accounts should be opened at the same time, as its a process of frustration with the banks and we only spend time once going to a local branch.

 

The above must just also be confirmed when the bank account is opened, please. As the lady on the phone also had her own ideas of what products we should use, and only after I got a bit upset, did she answer my questions and not try to sell me other stuff.

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

 

No costs...bank charges... That's the wonderful thing.

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

 

Shouldn't be much of an effort.

 

Everyone can set a stop order on his account for the R250. The treasurer check on certain date if everyone paid in, and then transfer the money. Shouldn't take more than 10 minutes for the treasurer. There must be some type of control. :)

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

 

No costs...bank charges... That's the wonderful thing.

 

I find this extremely hard to believe, there has to be some costs involved?

 

Would be nice if there isn't, guess only time will tell.

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

 

No costs...bank charges... That's the wonderful thing.

 

I find this extremely hard to believe, there has to be some costs involved?

 

Would be nice if there isn't, guess only time will tell.

 

Their website said no costs...will take them on if there is! :P

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Is it possible to perhaps get a rundown of the costs involved in opening and running all these bank accounts? That is now the Nedbank option. Seems like a lot of effort i.e. deposit monthly in one account, then move money to 32 day notice account, then when sufficient amount move to easy equities.

 

No costs...bank charges... That's the wonderful thing.

 

I find this extremely hard to believe, there has to be some costs involved?

 

Would be nice if there isn't, guess only time will tell.

 

Their website said no costs...will take them on if there is! :P

 

It probably also says t&c apply, just to cover themselves.

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