VEM had a chance to speak to Mr. Gordon Mtshali the Cashbuild Divisional Manager. He shared with us more information about the Advantages and Disadvantages of the Cashbuild Payment Card.
Question
Please elaborate in terms of how it works and how to go about acquiring and having one, as well as the advantages and disadvantages of the account.
Cashbuild Payment card
This is the card you open when you decide to save towards building your dream house. In this card you only need R500 to open an account and then you can save as much as you can afford at your own pace. We don’t give you a time frame for your savings. As long as you will understand that our quotation is valid for 14 days. So if you, for example, you are saving towards buying 50 bags of cement and today cement is R69.95 with total of R3497.50 for 50 bags, and you saved for 1 year, by next year this time cement could be R70.50 and a total of 50 bags would cost you R3525 which means you will have to top up by R27.50 to get your 50 bags).
Advantages of this card are;
1. you save at your own pace no pressed for time frame.
2. you can use your money for another need should you are forced to use it (We transfer to your bank account no cash).
3.Once you have opened it you don’t need to always come to the store to deposit money, you can do EFT or bank deposit or ATM deposit or deposit money at any Cashbuild in the country.
4.you can use this card at any Cashbuild store in the country and get your stock delivered to your home if you work far from home.
5.It is safe as it works with your secret pin.
6.You can add any of your family so they can use your card, which means you can make 2 cards for you and your family member.
Disadvantages
1.Its not yet an online card, you can’t check your account balance online.
2.We only refund back to you bank account not cash
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