Foreign Exchange

We do not offer foreign exchange services. This means that international transfers or payments to Capitec Bank accounts must be made through an authorised dealer in foreign exchange in South Africa. We can only accept these transfers once the authorised dealer has converted the funds into South African Rand.

International Transfers

To receive international transfers, please note the following:

1. We cannot directly receive and process transfers from foreign banks. Foreign exchange is not regarded as a core banking service, and is a very expensive and specialised service offered by registered authorised dealers only. We will, however, help you receive these transfers via the authorised dealers
2. When a transfer is made to your Capitec Bank account, the foreign bank must send the transfer and your information to their usual correspondent bank in South Africa for rand (ZAR)
3. In the message to their South African correspondent bank, the foreign bank making the transfer must clearly indicate in their client information section that the account is held at Capitec Bank in South Africa. The correspondent bank will then be able to liaise with us for your contact details if needed
4. All international transfers must be reported to the South African Reserve Bank under the Exchange Control Regulations. This will be done by the authorised dealer. The authorised dealer should therefore contact you to obtain the reason for the transfer and other related information to complete the transaction. If you cannot be contacted or you do not cooperate with either Capitec Bank or the authorised dealer, the authorised dealer will return the funds to the sender
5. Once the authorised dealer completes the currency conversion, the funds will be paid in rand to your Capitec Bank account
6. We will only credit your account upon receipt of the funds and the payment instruction from the authorised dealer

Please note that we cannot transfer funds to other countries.

Clearing Times

Since we depend on authorised dealers to process these international transfers, we cannot guarantee the exact clearing times.

Clearance typically takes up to 7 days to complete. If the sender or the foreign bank provides the authorised dealer in South Africa with too little account information, the transaction will take longer to process and could be returned to the sender.