First National Bank
No point investing with FNB

As a student, I decided to invest my earnings as a tutor with what FNB calls a Share Builder account, supposedly designed for people like me, wanting to learn about the stock market and how to invest wisely. It boasts of its low fees and aim to educate. How is it, then, that PER SHARE that I buy, they automatically charge me R50, on top of a monthly fee, and various other VAT charges? The share that I bought went from being R178 to R235, and it seems that this will happen with any other share I buy. I cannot possibly earn enough interest per share to make up for all the extra fees.

I really take offense to this - is this how you encourage people to learn about stock markets, by ripping us off? There really is no point investing now, all I've done is lose more money buying shares through FNB. Very disappointed.

Company: First National Bank
Country: South Africa
City: Cape Town

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