Bank Better, Live Better
bank accounts for foreign nationals05/05/2017
If you're not from South Africa and you want to open a Capitec Bank account, here's what you need to know.
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
- 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
- Upon renewal of your temporary residence permit, your personal and permit information must be updated for you to continue being a Capitec Bank accountholder
- Clients from Lesotho, Namibia and Swaziland may only transact within the CMA and are subject to their home country's Exchange Control Regulations
- We don’t open accounts for refugees and asylum seekers
- Employment must be verified with an original salary slip or original employment letter (on a company letterhead)
- A completed and signed Declaration of Assets and Liabilities form is needed (which you can get at any branch)
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.
you may also like...
our 2020 fees
We update our bank fees on 1 March every year. Last year, we helped our clients save over R200 million by lowering our digital banking fees. For the second year in a row, we will not be increasing these fees in 2020.
Experience better banking with our new app
You enjoyed our old app because of how simple and easy it was to use. To give you the most secure and best experience, we've upgraded our banking solution