Capitec Global One Account Short Questions

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Originally Posted by HavocXphere

You can use a cheque cards online like you would a credit card...except it goes straight off the account like a debit card. No minimum income, but they do a credit check (no idea why given that there is no credit involved).

NB if the transaction goes sideways then your in for a rough time. Chances of getting the cash back are slim. So I wouldn't process big amounts or use it with dubious online sites.

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Is that specifically with Standard bank? If i'm making a purchase and something goes wrong I immediately get refunded, had steam crash on me, during payment processing and money went out then back in again (I'm with Capitec)

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Originally Posted by AlphaJohn

You can always use www.vcpay.co.za for online shopping.

You can EFT money into virtual cards that you can use. Cheaper than opening an account just for that feature.

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Doesn't work with shops that need AVS.

Okay, I changed my plans slightly. I did want to open the Capitec account, but transferring funds from my standard bank account to capitec would take time and doing it every month my money comes in really will be annoying.

I did walk into standard bank, told them my card doesn't work for online shopping, they told me they will make me a Cheque Card which will work for online shopping. They told me it will take 7 days, and that the card will be linked to my student achiever.

I think a credit check was done, they gave me this print out which shows my monthly income and my source of income on it.

So keen for it! :D

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Originally Posted by okuhle94

I think a credit check was done, they gave me this print out which shows my monthly income and my source of income on it.

So keen for it! :D

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Shouldn't have done a credit check on you, you aren't applying for credit.

The only downside is that now I am going to have to go downtown to collect my cheque card :( and I hate catching Taxi's :(

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Originally Posted by okuhle94

The only downside is that now I am going to have to go downtown to collect my cheque card :( and I hate catching Taxi's :(

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Why downtown? As in Goven'beki area? I thought they deliver the cards to the branch you apply at.

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Originally Posted by Glordit

Why downtown? As in Goven'beki area? I thought they deliver the cards to the branch you apply at.

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SB delivers cards to your home branch unless you request otherwise (well in advance).

As for the "branch you applied to" - doubt it. They're more likely to pick up that you're not dealing with your home branch & ask what you want to do.

Cards requested via phone go to home branch regardless.

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Originally Posted by Fivel

Shouldn't have done a credit check on you, you aren't applying for credit.

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I've thought about that a bit more since I initially posted that. I think the reasoning is that if you've got a facility linked to your card then its essentially a credit card.

Hell my current investec card is exactly that...a Visa credit card directly linked to the main bank account with an overdraft facility built in. So none of that nasty interest rate business. Best of both worlds. :D

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Originally Posted by HavocXphere

I've thought about that a bit more since I initially posted that. I think the reasoning is that if you've got a facility linked to your card then its essentially a credit card.

Hell my current investec card is exactly that...a Visa credit card directly linked to the main bank account with an overdraft facility built in. So none of that nasty interest rate business. Best of both worlds. :D

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But they would have run a credit check when you apply for the facility. I can't see the rationale for running a credit check on a card application. In any event it doesn't really matter, it was more of an interesting observation by the poster.

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Originally Posted by Fivel

But they would have run a credit check when you apply for the facility. I can't see the rationale for running a credit check on a card application. In any event it doesn't really matter, it was more of an interesting observation by the poster.

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Don't cheque cards come with an overdraft facility, hence the credit check?

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Originally Posted by Glordit

Why downtown? As in Goven'beki area? I thought they deliver the cards to the branch you apply at.

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I am not too sure about that, they told me to collect my card at the Rink Street branch. I am not too sure what my branch is, I opened this student account when standard bank was on campus.