\ Did rcs buy edcon? - Dish De

Did rcs buy edcon?

This is a question our experts keep getting from time to time. Now, we have got the complete detailed explanation and answer for everyone, who is interested!

DURBAN – THE RCS Group, which acquired the majority of the Edcon store card book (Edgars and Jet accounts) before and after the business rescue process, said it has completed the migration of approximately 2.3 million account holders from the Edcon system to its own. This migration took place after the RCS Group purchased the majority of the Edcon store card book (Edgars and Jet accounts) before and after the business rescue process.

Is RCS a department within Edgars?

Yes. Retailability has purchased all of Edgars’ retail locations, and RCS has taken over Edgars’ customer credit account operations.

Who is responsible for taking over Edgar’s accounts?

When asked for a comment, Regan Adams, the CEO of the RCS Group, which took over Edgars’ accounts when Edcon went into business rescue in April, said, “I can confirm that we had an issue where interest was applied to six-month interest-free accounts in error. However, this was subsequently corrected, and the interest was reversed.”

Is Jet a member of RCS?

According to the decision of the Competition Tribunal, consumer financing company RCS currently owns and controls the book debt of retailer Edcon…. The clothing businesses Edgars and Jet, as well as the bookstore CNA, are all owned by their parent company, Edcon. RCS is a subsidiary of the French financial services provider BNP Paribas Personal Finance.

Can I still use my jet card at Edgars?

“Cardholders of these Edgars and Jet Thank U accounts will continue to be able to use their cards for purchases. However, they will be required to manage their accounts in the same manner as any other credit product, which includes ensuring that they pay their monthly installments in order to maintain a healthy profile with the credit bureau.

RCS has been given permission to purchase the Edcon store card debtors book.

Found 40 questions connected to this topic.

Will Pick n Pay accept my RCS card as payment?

You can get your groceries for the month at Checkers, Shoprite, Pick & Pay, and many more places. Moreover, the answer is yes; you are able to use your RCS Store Card at Game. You can use your RCS Store Card to top off your tank at Engen and Shell gas stations.

Can I make a withdrawal from the money that’s in my Edgars account?

Customers, including those who do not have an Edgars, CNA or Jet/JetMart store account, are able to use MOOVAMONEY, which is a wallet service, to deposit and withdraw money instantly at any participating Edgars, Edgars Connect, CNA or Jet/JetMart store in South Africa only, using a South African cellphone number. Customers do not need to have an Edgars, CNA or Jet/JetMart store account to use MOOVAMONEY.

If I shop at Checkers, can I use my Edgars card?

PAYING YOUR EDGARS THANK U ACCOUNT HAS NEVER BEEN EASIER. For the purpose of settling your bill, you are free to employ any of these flexible payment options. You can make a payment at any PnP, Shoprite, Checkers, or Game store by providing the one-of-a-kind Easypay reference number that was SMSed to you.

Who exactly owns the Retailability company?

Cliff Lines, an entrepreneur with more than 25 years of experience in the fashion apparel retailing industry in Southern Africa, is the founder and primary stakeholder of the company. He also serves as the company’s leader.

I have an RCS card; are I able to withdraw money from it?

Hello, is it possible for me to use my RCS card to withdraw cash? … You will not be able to withdraw cash, but you can make an application to have cash deposited into your bank account. Using the RCS App will allow you to accomplish this goal.

Will build it accept my RCS card as payment?

Get the financing you require to get started on or finish building your dream house. All Build it customers have access to credit facilities provided by Lendcor, Nedbank, RCS, Real People, and Thuthukani.

Checkers accepts RCS; is that an option?

Don’t forget that you can use your RCS Store Card in-store at participating merchants like Checkers and Pick n Pay to pay for the necessities of your weekly supermarket run. Just by swiping your card, you can make purchases and get up to 55 days without paying interest on them. Keep in mind that you are able to manage your RCS account from the convenience and protection of your own home.

Who is the owner of legit?

Retailability is a clothing shop as well as a holding company that is the owner of the brands Beaver Canoe, Legit, and Style. It has around 460 stores in operation across South Africa, Namibia, Botswana, Lesotho, and Eswatini combined.

Who purchased the jet?

In the past month, the Foschini Group was successful in acquiring Jet shops from Edcon for a total price of R480 million. Due to the instability of the economy as well as the stores, Foschini has decided to sign leases for only three years rather than the typical five years that Jet offers for its outlets.

Which stores are considered to be RCS?

Game, Dion Wired, Makro, Builders, Queenspark, Tekkie Town, Spitz, Kurt Geiger, Green Cross, Carvela, Cotton On, Typo, and Factorie are some of the brands that are currently part of our Private Label portfolio.

Can I use my RCS card to make purchases on the website?

You can submit an application for the RCS Card, which is one of the services that RCS provides, online. The credit limits on this card range from R1,000 all the way up to R40,000.

How can I go about increasing the RCS credit limit that I have?

If there is ever a moment when you would like to raise your credit limit, or if you would like to receive automatic annual increases, you can let us know either in writing or over the phone that you would like these things. Any such increase in the credit limit shall, where necessary, be subject to our scoring procedures, as well as the terms of the Act and this agreement.

Is it possible for me to pay for my electricity with my jet account?

You can get your hands on some MoovaMoney at any of Edcon’s chain locations, including Edgars, Edgars Connect, Jet/Jet Mart, and CNA. Customers can quickly sign up for an account on the platform by dialing the shortcode *120*334# from their mobile devices. After they have registered, they will be able to buy value-added services such as airtime, data, and energy, among other things.

Is it possible to withdraw funds from my jet account?

Using the cash advance option that may be available on your card will allow you to withdraw cash from your credit facility; however, you will need to meet certain requirements in order to be eligible for this option: 5.7. 1 Your account with us cannot have any outstanding payments and must be more than three months old; 5.7.

I have an Edgars account; can I use it to buy airtime?

You can buy airtime on your phone whenever you want. Anywhere! Directly billed to your Edgars account after purchase. We’ve already had 983,868 consumers sign up, and we’re getting closer and closer to our one millionth customer every day!

Is it possible to pay for gas with an RCS card?

You can use your RCS Store Card at specific Engen stations across the country if you ever find yourself in need of a fuel injection. These stations can be found all over the country. In addition to this, you will have an interest-free period of up to 55 days, as well as the convenience of having access to cash whenever you require it.

Can I use my game card to make purchases at Pick n Pay?

The following retailers are included: Ackermans, Bata Shoe Stores, Boardmans, Builders, Cape Union Mart, Old Khaki, Poetry, Chamberlain Stores, Checkers, Checkers Hyper, Checkers Liquor, Clicks, CNA Stores, Contempo, Dion Wired, Dis-Chem, Edgars, Red Square, Game, Game Liquor, Hyperama House & Home, Hungry Lion, Jet, Makro, MediRite, OK Furniture

Does RCS include Foschini as a member?

RCS was owned by Foschini to the extent of 55 percent, and Standard Bank held ownership of the remaining 45 percent of the company…. RCS provides its services to a network of more than 18 000 retail locations, some of which include Game, DionWired, Makro, Pick n Pay, Shoprite, and Clicks. The company also has more than one million cardholders.

Why is Edcon experiencing financial difficulties?

Financial problems

After the buyout by private equity, Edcon experienced a revolving door of CEOs, dropped a considerable percentage of its market share, and battled with an over supply of leased floorspace. This was in part owing to an rise in cheaper clothing imports from other countries as well as an increase in the number of clients shopping online.