How To Choose The Best Bank Account In South Africa | Money Marx
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- čas přidán 8. 07. 2024
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One of the most important, but often overlooked things in personal finance is having the right bank account for your specific needs. I mean, we all need a bank account, that is obvious, but seeing that some of us need more sophisticated banking while others just need the basics, it is important to know how to choose the right account.
And seeing that there are a paralyzing amount of options available on the South African market, it can get quite overwhelming to decide which bank account to choose. And, I know, it is not the most exciting thing to research, so to save you a lot of trouble, I will go through all the tedious work to give you a quick and easy-to-follow guide on which bank account you need to take out.
So in today’s video, I will go through the different types of bank accounts that are available, which types of products each bank provides and I will give you 5 important things to consider when deciding on a bank account.
CZcams Chapters:
00:00 Introduction
01:07 Types of bank accounts
05:06 Types of bank products
09:07 5 Important things to consider when opening a new bank account
14:23 Take home message
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My name is Dr. Pieter Marx de Villiers, and I'm a Veterinarian turned Financial Advisor from South Africa who aims to retire by the age of 35. Follow me in my journey towards Financial Freedom in (hopefully) just 10 years! :)
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DISCLAIMER
Whilst I am a Registered Financial Advisor under the FSCA as of June 2023, the content on this CZcams Channel and all of my other Social Media Platforms are for Educational Purposes only and should not be taken for Financial Advice. You and only you are responsible for your financial decisions and must therefore conduct your own research and seek the advice of a licensed Financial Advisor where necessary.
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Thank you my brother it is hard to find finicial advise for South Africa 🇿🇦🇿🇦
Thanks for watching :)
Awesome video!
Thanks for the video.
A bit sad that my current main bank wasn't mentioned at all, Discovery bank. I've been with them for about 3years and they have great service and lowest fees for a bundled cheque account. Please don't forget to include Discovery when doing video on credit cards especially since your interest rate is based on your Vitality Money score.
Thanks for watching. :) Discovery Bank is definitely a competitive option and will probably place 6th amongst the traditional banks in terms of geographic footprint. I am currently reviewing all the different current and credit accounts of each bank and will make content on them once I get through them all, so will definitely include Discovery in my comparison :)
Love the personality ❤❤❤
thank you
👌🏾 Great tips shared.
Thanks for sharing
Thank you Nomfundiso. I really appreciate you taking the time to comment :)
Quality video as always. Dankie Pieter
Dankie Patrick waardeer die comment :)
In your opinion amongst the big 4 banks in south Africa which do you recomend?
Hi, how about a video on tax harvesting in South Africa and touch on tax harvesting on our EE US accounts and the impact on that please. I noticed there is not allot of South African content on this matter. Ps Thanks for your videos and efforts
Hey Orrie. That is an excellent suggestion! I will have to do a bit of research on this as I haven't tried it myself, but will get onto it soon :)
@@MoneyMarx awsome, looking forward to it.
Awesome video!!
Could you please make one for the best credit card facility as a first timer
Thanks Serratia. Yes I am planning on making a series of videos on credit cards for all levels of consumers, so make sure to stay tuned for that :)
Appreciated
:)
Hi, thank you for this comprehensive overview, much appreciated. Question: What about Small business registration and Small Business accounts - backyard mechanic, photographer, wedding cake baker , do you have any thoughts regarding this?
Hey Coenrad. I am planning on making a video on Business bank accounts in the new year once all the banks updated their pricing structures. I use the FNB Gold Business account which is often recommended for small business owners :)
🤝
On pont as always, just a point of note: Tymebank recently launched a credit card amongst other things
Thanks Silas. That is interesting... I may make a video about it if you guys would be interested in something like that?