2025 banking fees

Capitec sets new industry standard with simplified 2025 banking fees.

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The bank champions SARB’s Vision 2025 with transparent, affordable banking fees

South Africa, 29 January 2025: Capitec, South Africa’s leading digital bank, has announced an industry-first simplified and reduced fee structure for 2025, marking a significant step forward in making banking more accessible and affordable for all South Africans. The new structure simplifies banking fees by introducing reduced prices for key services, demonstrating its commitment to financial inclusion.

Francois Viviers, Group Executive: Marketing and Communications at Capitec, says the bank believes that making banking fees accessible starts with pricing. “By consolidating our fees into clear, simple tiers and reducing costs for essential services like debit orders and immediate payments, we’re making it easier for South Africans to understand and manage their banking fees.”

 

Simplicity redefined: a return to basics

Capitec’s new fee structure revolves around five key price points: R1, R2, R3, R6, and R10. By simplifying over 30 price points into these clear tiers, Capitec makes banking fees more transparent:

  • R1: Payments between Capitec accounts, including Capitec Pay.
  • R2: Payments to other banks via EFT or PayShap.
  • R3: Debit orders.
  • R6: Immediate payments for real-time transfers.
  • R10: Cash withdrawals per R1 000, at Capitec or other banks’ ATMs.
 

Industry-first unified pricing for personal and business banking

Capitec has extended its simplified fee structure to business banking clients, offering the same affordable rates as personal banking accounts. This change underscores the bank’s commitment to fostering economic inclusion and growth for entrepreneurs and small businesses. Business accounts require a minimum balance of R150 and include a monthly fee of R50, which provides access to a dedicated relationship suite available 24/7 for personalised support.

The monthly account fee for personal banking clients remains unchanged at R7.50, maintaining Capitec’s position as one of South Africa’s most affordable banks.

“Traditional banking is complex and expensive, at the expense of most South Africans. Our fundamental belief is that pricing should be affordable, simple and transparent so that our clients know what they pay and what they get. This philosophy extends across our entire product range – from everyday banking to insurance and Capitec Connect. By maintaining competitive premiums on our insurance products and offering affordable mobile data rates, we can ensure that comprehensive financial services remain within reach for all South Africans,” adds Viviers.

 
Driving simplicity and transparency through innovation

Viviers says Capitec’s new pricing structure results from deliberate technological innovation and investment behind the scenes. “We’ve leveraged cloud computing, particularly through Amazon Web Services (AWS), to optimise our operations, improve system resilience, and deliver features faster. This has allowed us to achieve efficiencies and pass the savings on to our clients. ”

 

Supporting economic growth through financial inclusion

Capitec’s new fee structure aligns with the South African Reserve Bank’s (SARB) Vision 2025, which aims to accelerate economic growth through inclusive, payment systems that make digital payments safer, faster, and more accessible. By making banking more affordable and transparent, the leading digital bank contributes to broader financial inclusion and economic empowerment across all segments of society.

Viviers concludes, “When more South Africans and businesses have access to affordable banking services, it creates a ripple effect throughout the economy. Our simplified fee structure is more than just pricing – it’s about removing barriers to financial services and fostering economic growth for all South Africans.”

For more information about Capitec’s 2025 fee structure and offerings, visit www.capitecbank.co.za  

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