Like you, I’ve been seeing the Old Mutual as with the woman who shops too much and pays too much in bank charges all the time. So i thought I’d giove Old Mutual a call and find out what the service entailed.
the deal is that you pay the fixed monthly cost of R85, for which you get
* Free Debit Orders, stop Order and transfers
* Free POS transactions – that’s when you swipe your debit card at the till to pay
* Free EFT – when you pay someone electronically (EFT = Electronic Funds Transfer)
* 4 Free ATM withdrawals a month
* 1 free Cash withdrawal (Not sure quite sure, but I think they mean from within the branch).
* Free Balance retrieval
* Free bank statements.
* No annual card fees
* Free Digital (internet) and telephone banking.
Old Mutual Bank is a division of Nedbank, so you’d use a NedBank ATM. The only thing that sorta bothers me is that there aren’t many ATMs around, unlike ABSA which sticks one up every 15.058 metres.
I for one have signed up for an account as I pay ABSA waaaay too much every month for them using my money.
If any of you guys do open an account with them, let the rest of know what your experiences are like.
Thats all for today, the newsletter will be out tomorrow.