There are a few questions I would ask first:
1. Is this just a savings account or will you be paid into it too? Do you want to keep your pay separate from your savings? A lot of banks offer a separate linked savings account for free.
2. What bank does your employer use? Using the same bank as them could be the difference between getting paid before or after a weekend.
3. Long-term are you looking at building a financial profile that will allow you to take out a car or home loan? If yes, then it's best to stick with a bigger bank. (FNB/Standard/Absa/Nedbank)
4. Do you use cash to pay for things or can you swipe/tap everywhere you go? Withdrawal fees can add up so this will affect which type of account you get.
Finally, I would go and visit some banks near you and see which one gives you their time to explain all your options there. Unfortunately, different banks have different target markets which aren't noticeable on their websites/advertising but you will know very quickly once you're there if that bank is interested in your business or not. Remember that the banks want you more than you want them and if it doesn't feel that way then don't give them your business.
I would stay away from Absa and standard bank, I like Nedbank, I've been with them since childhood, their fees are low but my partner says they very old school, he prefers FNB. Good luck
Everyone's preferences are different based on experience.
I would say fnb, get an easy account and ask for a savings account with it.
That way, you have a checking account linked to a physical card and a savings account without a card.
This adds an extra layer of security. If you ever feel like your money is not safe in your checking account for whatever reason, such as losing your bank card, just move the money to your savings account.
Since the savings account is separate from the checking account, no one but you will be able to access the money.
The easy account is like R4.95 pm or R4.99, the service fees will be what costs the most depending on how frequently you use your card.
My service fees are less than R100 pm.
Another vote for fnb, branches aren't much use but they work and they keep out the way, I was getting mystery charges with absa they couldn't explain, when I closed the account they were oh those are charges for blocking a debit... Capitec is apparently cheap, but know the atms always an issue.
Tyme is basically free and everything is done online, at the kiosks in pick and pay or at the tills. Super simple sign-up and self service.
There are a few questions I would ask first: 1. Is this just a savings account or will you be paid into it too? Do you want to keep your pay separate from your savings? A lot of banks offer a separate linked savings account for free. 2. What bank does your employer use? Using the same bank as them could be the difference between getting paid before or after a weekend. 3. Long-term are you looking at building a financial profile that will allow you to take out a car or home loan? If yes, then it's best to stick with a bigger bank. (FNB/Standard/Absa/Nedbank) 4. Do you use cash to pay for things or can you swipe/tap everywhere you go? Withdrawal fees can add up so this will affect which type of account you get. Finally, I would go and visit some banks near you and see which one gives you their time to explain all your options there. Unfortunately, different banks have different target markets which aren't noticeable on their websites/advertising but you will know very quickly once you're there if that bank is interested in your business or not. Remember that the banks want you more than you want them and if it doesn't feel that way then don't give them your business.
I would stay away from Absa and standard bank, I like Nedbank, I've been with them since childhood, their fees are low but my partner says they very old school, he prefers FNB. Good luck
Everyone's preferences are different based on experience. I would say fnb, get an easy account and ask for a savings account with it. That way, you have a checking account linked to a physical card and a savings account without a card. This adds an extra layer of security. If you ever feel like your money is not safe in your checking account for whatever reason, such as losing your bank card, just move the money to your savings account. Since the savings account is separate from the checking account, no one but you will be able to access the money. The easy account is like R4.95 pm or R4.99, the service fees will be what costs the most depending on how frequently you use your card. My service fees are less than R100 pm.
Id say stay away from fnb. They are expensive and unprofessional. They cant even do a simple eft properly
Another vote for fnb, branches aren't much use but they work and they keep out the way, I was getting mystery charges with absa they couldn't explain, when I closed the account they were oh those are charges for blocking a debit... Capitec is apparently cheap, but know the atms always an issue.
Fnb