It will be a big year for South African banks in 2018. Three new players have received banking licences and are preparing to launch — and there are whispers of others. Change in the banking sector has been a long time coming and customers are hungry for a better banking experience. For years, the same issues have aggrieved customers: high fees, long queues and unpleasant service experiences are the biggest pain points. But switching banks is a hassle, which leaves many disgruntled customers putting up with it rather than having the inconvenience of moving elsewhere. It’s not like there has been a long list of alternatives to choose from. Capitec has been a breath of fresh air — in fact, it is now SA’s second-biggest bank after Standard Bank – but it’s not a solution for everyone. It is unrealistic to expect that one bank can be all things to all people. If you need a comprehensive banking solution with integrated wealth management, for example, Capitec’s offering may be too limited....

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