Capitec’s new banking fees revealed

Capitec introduced a new tiered structure to simplify and, in some cases, reduce its banking fees for 2025.

South Africa’s biggest bank by customers unveiled this new structure on Wednesday, 29 January.

The bank introduced a simplified and reduced fee structure for 2025 in what it calls an “industry-first”.

The bank said this marks a significant step forward in making banking more accessible and affordable for all South Africans. 

The new structure simplifies banking fees by introducing reduced prices for key services.

This structure revolves around five key price points: R1, R2, R3, R6, and R10. It simplifies over 30 price points into these tiers: 

• R1: Payments between Capitec accounts, including Capitec Pay. 
• R2: Payments to other banks via EFT or PayShap. 
• R3: Debit orders. 
• R6: Immediate payments for real-time transfers. 
• R10: Cash withdrawals per R1,000 at Capitec or other banks’ ATMs. 

Capitec’s group executive of marketing and communications, Francois Viviers, said the bank believes that making banking fees accessible starts with pricing. 

“By consolidating our fees into clear, simple tiers and reducing costs for essential services like debit orders and immediate payments, we’re making it easier for South Africans to understand and manage their banking fees,” he said.

“Capitec has extended its simplified fee structure to business banking clients, offering the same affordable rates as personal banking accounts.” 

“This change underscores the bank’s commitment to fostering economic inclusion and growth for entrepreneurs and small businesses.” 

Capitec business accounts require a minimum balance of R150 and include a monthly fee of R50, which provides access to a dedicated relationship suite available 24/7 for personalised support.

The bank clarified that its monthly account fee for personal banking clients remains unchanged at R7.50, maintaining Capitec’s position as one of South Africa’s most affordable banks.  

“Traditional banking is complex and expensive, at the expense of most South Africans,” Viviers said. 

“Our fundamental belief is that pricing should be affordable, simple and transparent so that our clients know what they pay and what they get.” 

“By maintaining competitive premiums on our insurance products and offering affordable mobile data rates, we can ensure that comprehensive financial services remain within reach for all South Africans.”

Viviers further explained that Capitec’s new pricing structure results from deliberate technological innovation and investment behind the scenes. 

“We’ve leveraged cloud computing, particularly through Amazon Web Services, to optimise our operations, improve system resilience, and deliver features faster,” he said. 

“This has allowed us to achieve efficiencies and pass the savings on to our clients.”