Frequently Asked Questions

A: Card transactions can only be performed with your Global One card and PIN. All branch transactions require your card and PIN, with fingerprint biometrics and photographic identification as additional security measures. Biometrics also enables us to track all transactions performed by service consultants, which ensures that only you can access your accounts and money. Our Mobile Banking and Internet Banking also include security measures for registered users.

A: They’re conveniently located nationwide near main commuter routes and in shopping centres. Contact our 24hr Client Care Centre on 0860 10 20 43 or use our online branch locator to find your nearest branch.

A: An Employer Sales representative can visit your workplace with a mobibank to help your staff open Global One facilities. They’ll need to bring a South African ID book and an original proof of residential address with their full name and address on it. Contact our Employer Sales team on 0860 66 77 06 or by email. We also offer a free financial life skills programme for employee groups to help them manage their own money, which we’ll gladly present at your workplace.

A: All inactive accounts become dormant after 12 months. This means that the account will be frozen for security reasons and no further transactions can be made. To prevent this, simply transact on your account at least once every 12 months. If you would like to reactivate a dormant account, please visit your nearest branch with your ID book and a valid proof of residential address.

A: If you're applying at any branch, your application will be approved in minutes. If you're applying online, we will get in touch to discuss your options. The money will be available immediately once your application has been approved. You can access the money any time using your Global One card, Mobile Banking or Internet Banking.

A: Credit life insurance is offered on loans of 6 months or longer. It means that your family won’t be liable for the outstanding balance of the loan in the event of your death. We give this to you free of charge.

A: The failure of both institutions came about as a result of a lack of confidence by corporate depositors who held large deposits with these banks. They withdrew their money, causing the institutions to experience a shortage of cash, which is used to repay depositors their money. The lack of confidence by corporate depositors was caused by concern that the banks were granting loans that they wouldn’t be able to recover.

We apply conservative credit polices to ensure that loans are collectable. We also apply very conservative cash management and cash supply management policies. We have a very large portion of long-term contracted funding from large institutions to ensure that the bank’s cash supply cannot be negatively influenced by short-term market sentiment. The bank has successfully and comfortably managed one local bank crisis in 2001 and the international bank crisis in 2008.

A: Who wouldn’t want the easiest, most affordable banking available in South Africa? Our fees are less than half the transaction costs of most other banks. Compare our transaction fees with other banks to see for yourself.

A: We have over 550 branches nationwide – a number which is always increasing. They’re conveniently situated near main commuter routes and in shopping centres.

We have ATMs at all our branches and our Saswitch connectivity gives you access to more than 12 000 additional ATMs nationwide. Remember that you pay a fixed fee at these other ATMs no matter how much you draw.

We also have agreements with selected retailers allowing you to draw cash at their tillpoints for even less than it costs at an ATM! Alternatively, you can register for Mobile Banking and Internet Banking as well so you can manage your money any time or place.

A: The following daily limits apply to keep your money safe:

•  R3 000 per day at ATMs
•  R10 000 per day for debit card purchases

These limits can be adjusted by visiting your nearest branch. If you need large amounts of money, you have the following options:

• Visit any branch and ask one of our service consultants to do the transfer (electronic funds transfer) from your account to the beneficiary’s bank account for you. The money will usually be available after 2 working days
• Register for Internet Banking and do the transfer yourself when it suits you. You can also register for Mobile Banking and transfer money to any Capitec Bank account
• Ask one of our service consultants to increase your ATM withdrawal limit up to a maximum of R10 000 per day for 3 consecutive days. Remember that drawing and carrying large amounts of cash is risky

A: A credit card is simply a credit facility accessed through a delivery mechanism (i.e. a card). A
purchase by credit card in the ‘budget’ format is no different to a term loan.

We will offer a credit card facility in the near future and currently offer a range of other credit
options. You can apply for loans of up to R230 000 over 84 months: these are approved at any branch in minutes and the cash is available immediately.
We also offer multi loans, which are ideal for your day-to-day needs:
• Transfer money to your transaction/savings account any time or place using your cellphone
• Interest and fees only charged on the money transferred
• Approved once every 12 months in the branch
• Repayable each month