If there was an easy way to save money, would you do it? Find out what it means to go cashless, and how doing so could cut your monthly bank fees by over 90%.
Nobody wants to pay more for using their own money. Cash is expensive, and drawing cash from an ATM can cost you hundreds of rands in fees every year. So to help you find out how easy it is to switch to digital banking and save on cash fees, Capitec created a unique challenge…
You will save on bank fees
Let’s say you have to pay for rent and groceries. If you draw R5 000 cash at a Capitec ATM, it costs you R30 in fees. If you then go into a branch to pay that money into the landlord’s account, it costs you an extra R6. In total, you spend R36 in fees.
Instead of drawing cash and then making a payment inside a branch, you can use our banking app or Internet banking to transfer the money straight from your Capitec account into the other account. And it will cost you just R1.
Here’s how digital banking can help you save on your bank fees:
Immediate payments
If the payment is urgent, if will cost you just R8 to make an immediate payment on our app (over 500% less than other banks). The money will be available in other bank’s account immediately.
When you’re shopping, instead of using cash you can pay with your Capitec card in-store and also online at zero fees.
You will save time
Waiting in queues to draw cash is a waste of time. If you spend 10 minutes a week in line at an ATM, it adds up to 8 hours in a year! Skip the queues and pay with your Capitec card, or start paying people and accounts on our app or Internet banking.
Need airtime, data or electricity? Instantly buy prepaid on our app even if you don’t have data, or get it on *120*3279# at no fee.
You will have less to worry about
Carrying cash around has many dangers, such as theft or loss. A lost or stolen card can always be stopped, but lost cash can’t be replaced. Payments on our app are very secure, just make sure you don’t share your Remote PIN with anyone.
For added peace of mind you can activate transaction notifications (40c per SMS) on our app so you will be notified when as little as R30 goes off your account.
Still have concerns? We answer the most common questions about going cashless here.
