I recently saw an ad from Prepaid 24 on Facebook claiming that banks hide fees in electricity purchases, resulting in fewer units for the same amount of money. This claim seemed plausible, so I decided to test it for myself. I made a R 500 electricity pu

I recently saw an ad from Prepaid 24 on Facebook claiming that banks hide fees in electricity purchases, resulting in fewer units for the same amount of money. This claim seemed plausible, so I decided to test it for myself.

I made an R 500 electricity purchase through Prepaid 24 to compare with an R 500 purchase through my usual Absa bank. Here’s what I found:

Prepaid 24: R 500 = 121.5 units, costing R 4.11 per unit. Absa Bank: R 500 = 143 units, costing R 3.49 per unit.

The process with Prepaid 24 was smooth, and I received my invoice promptly. However, the value for money was significantly worse than through my bank. Prepaid 24's rate per unit was higher than that offered by Absa, making their service less cost-effective.

It’s frustrating to see ads from Prepaid 24 ridiculing banks for hidden fees when their service actually offers worse value. I would advise potential customers to be cautious and consider this discrepancy before making a purchase. The advertised benefits do not hold up when compared to traditional methods.