Capitec now open on Sundays

Key takeaway

According to JustMoney, in May 2011, Capitec Bank became the first major South African retail bank to introduce permanent Sunday trading, launching the service at 84 of its 460 branches located in or near shopping centres on Sunday 7 May 2011. Carl Fischer, then Capitec's marketing and corporate affairs executive, told JustMoney the decision aligned Capitec's hours with FMCG retailers and restaurants. Note: this 2011 article describes a then-novel offering — Sunday and extended hours at Capitec and other SA banks have evolved significantly since. At the 2011 launch, Capitec said its paperless, retail-modelled banking system made Sunday trading economically viable where competitors' branch trials had failed due to back-office costs. The bank framed it as a way to reduce month-end pressure and serve clients who couldn't bank during weekday working hours. Today, Capitec continues to operate Sunday trading at many shopping-centre branches alongside competing offerings: most major SA banks now offer 24/7 digital banking via apps and have extended in-branch hours. For current Capitec branch trading hours, check capitecbank.co.za or the Capitec app, as hours vary by location and may differ from the 2011 launch configuration.

Capitec Open on Sundays

As part of its unique business approach to make retail banking simpler and more accessible for its clients, South Africa’s youngest retail bank, Capitec Bank, this week announced a first for its industry: permanent Sunday trading.

Launched at 84 of its 460 branches located in or around shopping centres on Sunday 7 May, 2011, the bank has aligned its trading hours to those such as FMCG retailers and restaurants to give clients increased flexibility to do their banking. This follows its successful roll out of longer banking hours at its inception.

Carl Fischer, marketing and corporate affairs executive said: “Capitec Bank has a single-minded approach to banking: it is based on the retail model and challenges the traditional banking experience. By opening our branches on Sundays, we will not only enable clients to do their personal banking when it suits them, but also further align ourselves to other retailers’ opening hours. It will also help to reduce in-branch pressure experienced over month end peak days.”

And, while competitors have trialled Sunday trading in various forms and not on a national basis, they could not sustain it largely due to cost. Capitec Bank, on the other hand, is able to implement Sunday trading due to its innovative banking model that is based on paperless technology. It negates the need for a back office to manage cumbersome end-of-day administration meaning more time is available for staff to serve clients, instead of cashing up.

“One of Capitec’s major points of differentiation is its ability to process clients’ requests – opening new accounts, transactions, withdrawals and deposits – quickly, using innovative technology. This significantly reduces time, and cost, and is among reasons why the Sunday trading is easier for us to roll out,” explains Fischer.

He goes on to say that Sunday trading will be considered beyond the current 84 branches in due course, enabling increased job opportunities for current and new staff. To date, 100 new jobs have been created nationwide. “Rotational shift schedules will allow for flexible working hours and even allow staff full weekends off at times,” Fischer says.

Addressing client needs

This isn’t the first time Capitec Bank has addressed the often disappointing banking experience facing South Africans today either. In 2010, it launched a free cash withdrawal promotion at retail outlets like Pick ‘n Pay and Checkers to encourage clients to view the till point as the new ATM due to increased convenience, safety and affordability. This, coupled with its announcement in February 2011 not to increase fees for the year – the only bank to do so – and launch of SMS updates that alert clients to their spending habits – underpins its commitment to giving clients greater control of their money.

“Our recent client growth of 33 percent (since February 2010) indicates there is significant need for affordable and transparent banking among South Africans. As such we are confident that the offer of Sunday trading will be taken up positively among our clients as it will afford them increased convenience outside of working hours to do their personal banking.”

FAQ's

Q: Is Capitec Bank open on Sundays in South Africa?

A: Yes — Capitec was the first major SA bank to introduce permanent Sunday trading in May 2011, starting at 84 of its 460 branches in shopping centres, according to JustMoney's reporting at the time. Many Capitec branches in shopping centres continue to trade on Sundays today, though specific hours vary by location. Check the branch finder on capitecbank.co.za for current hours.

Q: Which South African banks are open on Sundays?

A: Capitec has the broadest Sunday presence (since 2011), with selected shopping-centre branches of FNB, Standard Bank, Absa, and Nedbank also offering limited weekend hours, particularly in major metros. Most banking can now be done 24/7 via banking apps for transactions like transfers, payments, and account management — physical branches are needed mainly for cash deposits and account opening.

Q: Why did Capitec start opening on Sundays before other South African banks?

A: According to Capitec's then-marketing executive Carl Fischer, quoted by JustMoney in 2011, Capitec's paperless technology and retail-style model meant it didn't need cumbersome end-of-day back-office processing — so Sunday trading was cost-effective. Competitors had trialled Sunday hours but couldn't sustain them due to operating costs, the 2011 article reported.

For more information about Capitec Bank and its new Sunday trading visit www.capitecbank.co.za.