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Capitec Unveils Simplified Fee Structure for 2025

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Capitec has announced a new fee structure for 2025, designed to simplify banking costs for its customers. The new model consolidates over 30 price points into five easy-to-understand tiers, making it easier for South Africans to manage their banking fees.

Simplified Pricing Tiers

Francois Viviers, Capitec’s Group Executive: Marketing and Communications, explained that the new fee structure aims to reduce costs for essential banking services such as debit orders and immediate payments, thus making the banking process more transparent and affordable.

The breakdown of the five price points is as follows:

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

Business Banking Clients

The new fee structure is also available to Capitec’s business banking clients, who will receive the same rates as personal banking accounts. However, business accounts are required to maintain a minimum balance of R150 and pay a monthly fee of R50. This fee includes access to a dedicated 24/7 relationship suite for personalized support.

For personal banking clients, the monthly account fee remains unchanged at R7.50.

Capitec’s Vision for the Future

Viviers emphasized that Capitec’s approach aims to make banking more affordable, simple, and transparent. The bank is leveraging cloud computing, particularly through Amazon Web Services (AWS), to enhance operations, improve system resilience, and roll out new features more quickly.

Capitec’s updated fee structure aligns with the South African Reserve Bank’s (SARB) Vision 2025, which aims to drive economic growth through more inclusive and accessible digital payment systems. Viviers added, “When more South Africans and businesses have access to affordable banking services, it creates a ripple effect throughout the economy.”

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