Meet the bank Capitec

Geovana Ramos
January 14, 2025

Capitec Bank is synonymous with simplicity and accessibility, redefining the South African banking sector. Since its establishment in 2001, the bank has revolutionized how individuals manage their finances by focusing on transparency, affordability, and customer-centric solutions that cater to diverse needs.

With an innovative business model and highly competitive rates, Capitec Bank has successfully positioned itself as a trusted financial partner for millions of South Africans. Its approach blends advanced technology with straightforward processes, ensuring that banking is both fast and convenient for everyone.

Whether it’s opening an account, accessing credit, or managing finances digitally, Capitec Bank prioritizes efficiency and ease of use. Continue reading to explore its rich history, diverse products, and the many advantages that make Capitec Bank a standout choice in the industry.

About Capitec Bank

Capitec Bank was founded in 2001 by Michiel Le Roux with a clear mission: to provide affordable, straightforward financial services to South Africans. Initially, the bank aimed to address the needs of lower-income individuals who often faced significant barriers to accessing traditional banking services due to high costs and complex requirements.

From the beginning, Capitec Bank distinguished itself with an innovative and technology-driven approach, emphasizing efficiency and simplicity in every interaction. By focusing on transparency and offering competitive rates, the bank quickly gained the trust of millions of customers, becoming a reliable choice for those seeking accessible and hassle-free financial solutions.

Over the years, Capitec Bank has grown rapidly, expanding its network to reach communities across South Africa. Today, it offers a comprehensive range of financial products, including savings accounts, personal loans, credit cards, and various other services designed to meet diverse financial needs. This growth reflects the bank’s ongoing commitment to inclusivity and customer satisfaction.

Capitec Products Reviewed by Infinity Discover:

Cepitec Credit Card

Fees and commissions

Email	FREE
SMS	0.35
Cash for loan repayment	FREE
Debit order	3.50
New credit card delivery	FREE
New debit card delivery	100.00
Fix savings account	FREE

To learn more visit: https://www.capitecbank.co.za/personal/transact/transact-fees/

Rewards Programs and Benefits

Cashbuild: Enjoy 1% cashback every time you shop for building tools, construction hardware, or DIY project materials at Cashbuild. Whether you’re shopping in-store or online, simply pay with your Capitec card to qualify. This benefit allows you to save while tackling your home improvement or construction projects with ease.
Dis-Chem: Earn 1% cashback on a wide range of health, beauty, and wellness products at Dis-Chem. To unlock this reward, join the Live Better program through the Capitec app and use your card for payment. It’s a simple way to enjoy savings while taking care of yourself and your family.
Dis-Chem Baby City: Receive 1% cashback when purchasing baby and mommy essentials at Dis-Chem Baby City. Join the Live Better program on the Capitec app and pay with your card to start saving on everything you need for you and your little one. This offer ensures that every purchase is both rewarding and practical.

Requirements to Open Your Account

To open an account with Capitec Bank, you must meet a few basic requirements. Check them out below:

A valid identification document (passport or South African ID).
A recent proof of residence (not older than 3 months).
Proof of income or a bank statement.

For more information visit the official website: https://www.capitecbank.co.za/

How to Open an Account

Download the Capitec App: Get the app from your device’s app store: Google Play Store, Apple App Store, or Huawei App Gallery.
Open the App and Select “Open an Account”: Launch the app and choose the option to open a new account.
Enter Your South African ID Number (SA ID): Provide your valid ID number for verification purposes.
Complete the Facial Verification: Follow the app’s instructions to take a few selfies. This biometric verification ensures your identity matches the Department of Home Affairs records.
Provide Your Personal Details: Fill in the personal information requested by the app.
Set Up Your Account: Once your details are verified, your account will be created, and you can start using the bank immediately via the app.

Customer Experience: What to Expect

Capitec Bank customers frequently highlight the convenience and efficiency of the services provided, emphasizing the bank’s ability to deliver a smooth and hassle-free experience. From opening an account to managing finances digitally, every process is designed to be straightforward and accessible.

The Capitec app stands out for its user-friendly design, enabling customers to complete almost any transaction quickly and easily. For those who prefer in-person assistance, the bank’s wide network of branches across South Africa ensures that support is readily available when needed.

Additionally, Capitec’s affordable fees and focus on customer needs have made it a trusted choice for many. Its emphasis on simplicity and transparency continues to attract individuals seeking reliable and accessible financial solutions.

Advantages of Choosing Capitec Bank

Capitec Bank offers its customers a range of exclusive benefits that make everyday life more practical and rewarding. Through partnerships in areas such as fuel, education, and shopping, you can enjoy discounts, cashback, and access to quality products. Check out some of the available advantages:

Shell

Save on fuel at Shell stations with cashback rewards. Register your Shell V+ card and pay with your Capitec card, or use the Scan to Pay feature on the Capitec app for a seamless and rewarding refueling experience.

Educate24

Get 50% off on all Educate24 online courses designed to develop practical and industry-relevant skills. As a Capitec client, enjoy affordable access to quality education and advance your career at your own pace.

GetSmarter

Enroll in short online courses through the GetSmarter widget on the Capitec app and receive an exclusive R4 000 discount with the Live Better program, making premium education more accessible.

Exclusive Books

Earn 10% cashback on purchases at Exclusive Books during Live Better Days. Pay with your Capitec card and enjoy savings on a wide selection of books, both in-store and online.

Security and Data Protection

Capitec Bank continuously invests in cutting-edge technology to ensure the safety and privacy of its customers’ data. Using advanced encryption systems, the bank safeguards all transactions conducted on digital platforms, ensuring that information is treated with the highest level of confidentiality.

Customers benefit from two-factor authentication, adding an extra layer of security when accessing their accounts. Additionally, the bank employs constant and proactive monitoring to identify and prevent fraud. Real-time alerts help detect any suspicious activity immediately, providing users with greater peace of mind.

By choosing Capitec Bank, you opt for a partner that prioritizes the safety of your information. This allows you to manage your finances with total confidence, knowing that your assets are protected against potential threats.