How does opening a Capitec account feel?

By Staff Writer

In the light of the recent bank charges report that found that the banks were raising their charges again, Justmoney decided to do some research from the front line and went to open a Capitec Global One account, the account with the lowest fees on the market. So how did it feel? Surprisingly good actually, Justmoney was pleasantly surprised at how easy it all was, closing down our other account will probably be more difficult. So if you want to get one what do you need to open a Capitec Global One account?

 

  • Your SA ID book and Ten Rand
  • Proof of where you live
  • About 45 minutes

 

Capitec came from behind, they started as a micro lender and have now come into the mainstream banking market. You can't open an account with them online yet but they are starting to move into the online arena with their Youth Prosperity Survey which for a bank is quite a funky flash site. So you need to go into the branch, but beware lunchtimes as the branch gets packed out, and they still have a counter transaction system for opening accounts and applying for loans.

Justmoney went and opened a Capitec Global One account and was impressed by the friendly professionalism at the counter and the biometric systems that Capitec uses. They take your fingerprints with a scanner and the contract states that these are the forms of Identity that Capitec uses to authorise a transaction. They expect to have biometrics installed in their ATMS in the future, very sci-fi.

The Capitec Global One Account has the lowest charges on the market and offers online banking and the lowest Saswitch fees out there with a fixed rate charge. Drawing money has never been cheaper as you don't need to worry which ATM you use with the fixed charge. They do charge a deposit fee but it is small and the online banking may be simple, but it works and simple is a good thing. Go open a Capitec Global One account today and like Justmoney you may be very pleasantly surprised.

Recent Articles

Featured Register your customary marriage or lose the right to inherit estate

December is that time of the year when we will see at least one suitor sending his uncles to negotiate the price of his future wife. Lobola, as the bride price is known, has always been an important element of the African marriage.

Read more

Changing from one medical scheme to another - effortlessly

It is coming up to the end of the year and you might be looking to change medical schemes, or options within a scheme in preparation for the new year. While you don’t necessarily have to wait for year-end to do so, providers often recommend it.

Read more

Your guide to financially surviving Christmas

There are a few times each year where you need to dig deeper into your pocket and spend more money such as birthdays, anniversaries, and the Christmas period. Whether you celebrate this religious holiday or not, the festive period - depending on how you choose to spend it - means increased travelling, buying of gifts, entertaining, and eating out at restaurants.


Read more

Trump, Trump and a little bit of South Africa

What a November we had, with the rand staging one of its best months and closing below the R14.00 level. To be honest, this looked like quite a far-fetched possibility at one stage during the month. It seems that the tide has changed a little, even though it might be short lived since the US dollar bulls are not so sure of their case anymore.

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Free iCollege Scholarship

Price: R600
When: Until 16 May 2019
Where: Nationwide

Telkom December Big Deal

Price: R459 pm
When: Until 31 December
Where: Nationwide

Money Savvy Kids Giveaway

Price: R450
When: 8 December
Where: Johannesburg (Milpark)