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 Should you save or invest your money?

While saving means putting away cash for future use, investment involves purchasing assets which will yield good returns in the future.

Read more

Retirement annuities compared – pick the one for you

When selecting an RA you must know the type of annuity you are investing in. Retirement annuities are divided into two categories: traditional and new generation annuities.

Read more

Recent tax changes – how do they affect you?

In January this year, various amendments to the Taxation Laws Amendment Bill and the Tax Administration Act were announced. While some changes will benefit you, others could be to your disadvantage. Justmoney looks at how some of the recent changes will impact you.

Read more

Claiming from RAF – should you lawyer up?

A claim against the Road Accident Fund (RAF) can take up to five years before settlement. In trying to secure payment faster, should you appoint a lawyer rather than approaching the RAF directly?

Read more

Sign Up

To our weekly newsletter for advice you can bank on

Deals

Save R100 when you buy a tracker at Takealot

Price: R289
When: Daily
Where: Online

Pamper yourself and partner for less at Bakwena Day Spa

Price: From R999
When: Until 31 July
Where: Hartbeespoort

Pay only R35 for the new Nandos Boujee Bowl

Price: R35
When: Daily
Where: Nationwide