CAPITEC Bank clients will have some cash in their pockets after the bank announced yesterday that its bank fees will not be increased this year.
The bank said its decision not to raise fees - traditionally implemented by all banks on March 1 - was driven by its desire "to empower South Africans to be more in control of their money".
Capitec's chief executive Riaan Stassen said: "The recent price hikes in electricity, food, petrol and school fees, among other personal expenses, mean South Africans already have enough financial pressure to contend with in 2011.
"By (not increasing fees) we intend maintaining our position as the most competitively priced bank in South Africa while (giving) clients essential banking services at the most affordable price."
In 2008 the Competition Commission made 28 recommendations to banks to reduce their fees and make them more competitive.
This was followed in June last year by Finance Minister Pravin Gordhan's call for "absolute transparency in banking institutions".
Stassen said the bank supports the government's call.
"All of our fees are on our website . this means clients always know what they will pay - and for what - there are no hidden fees."
Capitec fees stay the same
CAPITEC Bank clients will have some cash in their pockets after the bank announced yesterday that its bank fees will not be increased this year.
The bank said its decision not to raise fees - traditionally implemented by all banks on March 1 - was driven by its desire "to empower South Africans to be more in control of their money".
Capitec's chief executive Riaan Stassen said: "The recent price hikes in electricity, food, petrol and school fees, among other personal expenses, mean South Africans already have enough financial pressure to contend with in 2011.
"By (not increasing fees) we intend maintaining our position as the most competitively priced bank in South Africa while (giving) clients essential banking services at the most affordable price."
In 2008 the Competition Commission made 28 recommendations to banks to reduce their fees and make them more competitive.
This was followed in June last year by Finance Minister Pravin Gordhan's call for "absolute transparency in banking institutions".
Stassen said the bank supports the government's call.
"All of our fees are on our website . this means clients always know what they will pay - and for what - there are no hidden fees."
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