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Meet the bank Capitec

Geovana Ramos
dezembro 26, 2023

Capitec Bank, founded in 2001 by Michiel Le Roux, is a financial institution in South Africa. Its initial goal was to provide simplified and affordable financial services to lower-income South Africans, often excluded from the traditional banking system due to financial and bureaucratic obstacles.

The bank has excelled in taking an innovative and technological approach to the efficient and affordable provision of basic banking services. Its business model emphasizes simplicity, transparency and competitive rates, attracting a solid customer base over the years.

After its founding, Capitec Bank expanded rapidly, extending its presence throughout the country. It offers a varied range of financial products, including savings accounts, personal loans, credit cards and other traditional banking services.

Fees and commissions

Balance inquiry other bank card machine	R0.40
International Mastercard® card machine	R3.00
Extract App / WhatsApp / Internet/ 1203279#	Free
Cash withdrawal capitec ATM	R9.50 per R1,000
Cash withdrawal ATM from another bank	R10.50 per 1,000
Buy at the local Mastercard ® card machine	Free
International purchase processing fee	R3.00

For more information, visit: https://www.capitecbank.co.za/personal

Capitec products reviewed by Midnance:

Capitec Credit Card

How to open an account

Switching to Capitec has never been simpler, faster and safer – and you don’t even have to visit an agency to do it.

Requirements to open your account:

A smartphone.
Your South African identification number.
A valid email and a South African mobile number.

To open your account, follow the steps below:

Download the Capitec app from the Google Play Store, Huawei AppGallery or iOS App Store.
Enter your South African identification number.
Take some selfies.
Fill in your personal data.

For more details, visit the official website: https://www.capitecbank.co.za/