Bank Better, Live Better

bank accounts for foreign nationals

If you're not from South Africa and you want to open a Capitec Bank account, here's what you need to know.

Article Image

If you're not from South Africa and you want to open a Capitec Bank Savings Account, we can help you under either of the following conditions:

  • You have a permanent residence permit and are employed
  • You have a temporary residence permit with a work permit and are employed

Important info

  1. If you have a temporary residence work permit, you may only hold an account for the duration of the validity of your temporary residence permit
  2. Upon renewal of your temporary residence permit, your personal and permit information must be updated for you to continue being a Capitec Bank accountholder
  3. Clients from Lesotho, Namibia and Swaziland may only transact within the CMA and are subject to their home country's Exchange Control Regulations
  4. We don’t open accounts for refugees and asylum seekers
  5. Employment must be verified with an original salary slip or original employment letter (on a company letterhead)
  6. A completed and signed Declaration of Assets and Liabilities form is needed (which you can get at any branch)
  7. Capitec bank is required by law to obtain certain international tax information from all our clients. The information will be reported to the relevant countries through the South African Revenue Services (SARS) based on the United States Foreign Account Tax Compliance Act (FATCA) and the Organisation for Economic Co-operation and Development (OECD) Common Reporting Standard for the Automatic Exchange of Financial Account Information. New and existing clients are required to confirm all countries other than South Africa where they are a resident for tax purposes or liable to pay tax. Clients must provide their tax identification number for the listed countries. If you are unsure of any information, please contact a professional tax consultant.

Was this article helpful?

you may also like...

View All Other Articles View All
foreign exchange services

foreign exchange services

Find out what you need to know about using your Global One card abroad and our international payments services that we can offer with Mercantile Bank, a Division of Capitec Bank.

Read More
Experience better banking with our new app

Experience better banking with our new app

We have switched off our old app, which means you won't be able to use it anymore. Make the move to our new banking app today without visiting a branch!

Read More
open a Capitec account anywhere, any time

open a Capitec account anywhere, any time

The digital era is changing the way we bank. Thanks to remote onboarding, it’s possible to open a Capitec account at any time from anywhere.

Read More
investing 101 with EasyEquities

investing 101 with EasyEquities

Have you been thinking of starting your first investment? The good news is it’s super simple with the Capitec banking app and EasyEquities widget.

Read More
View All Other Articles