Capitec has updated its fees for 2023.
South Africa’s biggest bank by retail clients, Capitec, has updated its banking fees for 2023.
Capitec customers will see a sharp increase in the cost to get money into and out of their accounts, with cash deposits and withdrawals being hiked by 8% and 19%, respectively. Deposits at ATMs will increase from R1.30 per R100 deposited to R1.40 per R100, while cash withdrawals will jump from R8.00 per every R1,000 withdrawn to R9.50.
Most digital transactions remain the same, with card and online purchases remaining free; however, some transactions will also see price hikes. Payments to other banks will now cost R2 per transaction , and send cash fees have increased in line with withdrawal fees – ie, up to R9.50 from R8.00 previously.The bank has introduced a host of new services, including:
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