The unique Capitec Bank offer
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An innovative banking facility offering transactions, savings and credit which are accessed via a paperless, card-driven process in realtime. Capitec Bank’s offer can be defined as the:
One solution to your money management: |
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Capitec Bank has, through innovation, combined the above into a single facility. It provides access to numerous options of each, via a paperless card-driven process which delivers everything on a realtime basis.
The innovative packaging of this facility and our unique service platform have resulted in a low-cost bank infrastructure, requiring no costly branch back office, which delivers the most accessible, simplified, affordable banking available in the market.
The access to this unique facility is further enhanced by: minimum bank hours of 8:00 to 17:00 on weekdays and 8:00 to 13:00 on Saturdays. Paperless transacting is enabled by biometric control of all branch transactions at the consultant. This protects clients by verifying transactions while simplifying client processes. Photographic and biometric identification of clients is used to enhance secure transacting on client accounts and to support instant card replacement when required.
Accessible service platform
- Capitec Bank offers a nationwide network of more than 360 branches and 765 ATMs at which clients can gain access to our banking services.
- Connection to the SASWITCH network gives access to all other banks and ATMs providing convenient cash withdrawals and transacting.
- Agreements with Pick n Pay, Boxer and Score allow our clients to draw cash at the tills for only R1 per transaction. Clients can also draw cash from Shoprite, Checkers and PEP tills when making a purchase (cashback) for the same low fee.
- MasterCard connectivity locally and internationally provides card purchases at most retailers.
Facts on the product offer
- 2 saving options offering the highest interest rates
- Competitively priced loan products from 1 to 36 months
- Lowest cost transacting facilities which include
| ATM withdrawals | R3.00 fixed fee |
| Stop orders | R2.50 fixed fee |
| Money transfers | R2.50 fixed fee |
| Debit card purchase fee | Free |
| Cash withdrawals from retailers | R1.00 |
A savings culture
A savings culture does not exist in South Africa and more often than not, purchases of goods are made when clients can hardly afford the expense. Unexpected expense crises result in emergency lending at a high cost to clients.This lack of a savings culture is largely as a result of low savings returns and the high administration costs of having a savings account. Capitec Bank offers 2 saving options offering the highest interest rates and the lowest fees.
The branch experience
Our in-branch experience starts with the convenient location of our branches where clients work, shop, commute and live. The physical layout of our branches provides an open and informal atmosphere with no barriers, allowing our consultants to provide clients with personal service, supported by innovative technology. Clients never complete any forms as all our processes are paperless and card driven. This allows the consultant to focus on the client’s needs and to provide knowledgeable options, in the client’s language of choice. Access to the full bank offer takes up to 10 minutes. As cash in branches is either held in drop safes or dispensed through ATMs, we provide a safe and user-friendly banking environment where clients can be informed and empowered.Taking banking to the client
Workplace banking
Overall access to banking and the ability to fully inform clients of alternatives are limited. Most clients are therefore not informed with regard to the full functionality of banks and the basis of fees charged. Inevitably, this is to the detriment of the client.Capitec Bank therefore takes banking to employers, in order to reach their employees and to increase the understanding of the options available in banking. Information sessions for employees are arranged at their place of work to explain options, reflect on cost comparisons and provide financial skills support where required.
Mobile banking
Should employees want access to banking, Capitec Bank provides a mobile banking service to enable them to open bank accounts at their place of work. The mobile banks, which use wireless transmission, biometric verification of transactions and a digital camera to capture images of new clients, allow us to offer banking to clients at a time and place convenient to them.Our mobile banking facility offers most of the non-cash banking functions available. These services include opening of accounts, balance enquiries, transferring of money between accounts and activating personal loans.
Electronic Salary Transfer Facility for employers
Capitec Bank’s highly simplified, secure and cost-effective Electronic Salary Transfer Facility enables employers to pay employees via the internet. The system is low cost, convenient and simplified and promotes cashless transactions in the interest of safety for both employer and employee.By using Capitec Bank’s Electronic Salary Transfer Facility, employers can transfer salaries at 75 cents per transaction to Capitec Bank accounts and at R2 per transaction to accounts at other banks.
Financial education
Capitec Bank is committed to community upliftment by means of basic financial skills improvement. Research by Finmark Trust identified the need for better financial planning and control of finances in most households throughout South Africa.We have developed a Basic Financial Skills Course in cooperation with Unisa which covers basic financial planning, the management of debt and banking services and products. These courses are presented free of charge to communities, employees at their work place, schools, teachers and interested community groups.
