Capitec deposit fees; In the world of modern banking, convenience and accessibility are vital. Capitec Bank, known for its customer-centric approach, continues to offer a wide range of services to meet the needs of its clients.
However, it’s essential to understand the associated costs, particularly when it comes to deposit fees.
This blog post delves into Capitec Bank’s deposit fees for 2023. We’ll break down the fees involved in various banking activities, ensuring that you have a clear understanding of what to expect.
The Importance of Understanding Deposit Fees
Before we explore the deposit fees in detail, let’s briefly discuss why it’s crucial to understand these charges:
- Financial Planning: Understanding deposit fees helps you plan your finances effectively. It ensures that you’re aware of the costs associated with different banking activities.
- Budget Management: By knowing the fees, you can manage your budget better. This includes accounting for any additional expenses related to your banking transactions.
- Informed Banking: Being informed about deposit fees allows you to make educated decisions regarding your banking activities. You can choose services that align with your financial goals and avoid unnecessary charges.
Now, let’s dive into Capitec Bank’s deposit fees for 2023. Please note that these fees are subject to change, so it’s a good practice to stay updated through the bank’s official channels.
Capitec Deposit Fees for 2023: A Comprehensive Guide
Below, we’ve provided an overview of the deposit fees associated with various banking activities. Please keep in mind that some fees may be waived or reduced for specific account types or under certain conditions. Always refer to the bank’s official documentation for the most accurate and up-to-date information.
| Banking Activity | Deposit Fee |
|---|---|
| Purchase at local Mastercard® card machine | FREE |
| Card purchase online/scan to pay/telephone/Apple Pay/Samsung Pay/Google Pay | FREE |
| International processing fee | $3.00 |
| Airtime/data/SMS bundles (app/Internet/ 1203279#1) | $0.50 |
| Electricity (app/Internet/ 1203279#1) | *$1.00 |
| Airtime (other bank ATM) | $8.00 |
| Pay bills/vouchers/LOTTO (app/Internet/ 1203279#1) | *$1.50 |
| Capitec Pay (app/Internet) | $1.00 |
| Transfers/payments | |
| Transfer between own accounts (app/Internet/ 1203279#1/Capitec ATM/branch) | FREE |
| Payment received from Mastercard® MoneySend(card/virtual card) | $1.00 |
| Early release: fixed-term savings (Capitec ATM) | $9.50 |
| Early release: tax-free savings (Capitec ATM/Branch) | $9.50/$300.00 |
| Payment to Capitec client (with verified cellphone number) | $1.00 |
| Cash withdrawals | |
| PnP/Shoprite/Checkers/Boxer tillpoint | $1.75 |
| Capitec ATM | $9.50 per 1,000 |
| Other bank ATM | $10.50 per 1,000 |
| International Mastercard® ATM | $80.00 |
| International Mastercard® card machine | $9.00 |
| Statements (1 – 3 months) | |
| Main savings account statement (App/WhatsApp/Internet/ 1203279#1) | FREE |
| Flexible savings/tax-free savings plan statement (App/Internet) | FREE |
| Fixed-term savings/tax-free savings plan statement (App/Internet) | FREE |
| Credit card statement (first statement free) (App/Internet/ 1203279#1) | FREE |
| Credit card transaction history (App/Internet) | FREE |
| Balance enquiries | |
| Capitec (App/Internet/ 1203279#1/card/branch) | FREE |
| Other bank card machine | $0.40 |
| International Mastercard® card machine | $3.00 |
| Other bank ATM | $8.00 |
| International Mastercard ATM | $9.00 |
| Declined transactions (insufficient funds, exceeds limit) | |
| Capitec card machine/Capitec ATM | FREE |
| Local other bank card machine/online/scan to pay/telephone | $0.40 |
| International Mastercard® card machine/online/scan to pay/telephone | $3.00 |
| Local other bank ATM | $8.00 |
| International Mastercard® ATM | $11.00 |
| Security | |
| Internet banking token on keyring/replacement token on keyring | $120.00 |
| Replacement/supplementary card (branch) | $70.00 |
| PIN change (app/Internet/ 1203279#1/Capitec ATM/branch) | FREE |
| PIN reset (branch) | $10.00 |
| Stop lost/stolen card (app/Internet/ 1203279#/branch) | FREE |
| Money In/Money Out notification | |
| In-app message | FREE |
| SMS | $0.30 |
| Send payment notification | |
| FREE | |
| SMS | $0.30 |
| Send account details | |
| FREE | |
| SMS | $0.30 |
| Deposits | |
| Cash for loan repayment | FREE |
| Notes (cash-accepting ATM) | $1.40 per 100 |
| Notes (branch) | $4.00 per 100 |
| Coins (branch/coin deposit machine) | $15.00 per 100 |
| Incoming international payment in rand or foreign currency | $50.00 |
| Exchange Control Application Fee | $1,000.00 |
| Disputed transactions | |
| Disputed debit order: last 40 days (app) | $5.00 |
| Disputed debit order: last 40 days (branch) | $50.00 |
| Disputed debit order: last 40 days (SST) | $25.00 |
| Disputed debit order: after 40 days (branch) | $80.00 |
| Disputed debit order: after 40 days (SST) | $40.00 |
| Disputed DebiCheck: last 12 months (branch) | $50.00 |
| Disputed DebiCheck: last 12 months (SST) | $25.00 |
| Reversal of payment request to Capitec account (last 40 days) | $7.00 |
| Reversal of payment request to other bank account (last 40 days) | $160.00 |
| Local/international card machine/online/scan to pay/telephone purchase (unsuccessful dispute, last 60 days) | $80.00 |
Conclusion
Understanding deposit fees is a crucial aspect of managing your finances effectively. Capitec Bank’s transparent fee structure ensures that you have access to the information needed to make informed decisions about your banking activities.
By staying informed about these fees, you can plan your financial transactions wisely, ultimately working towards your financial goals.
Always remember that while fees are a part of banking, Capitec Bank strives to provide cost-effective solutions to its clients. The bank’s commitment to transparency and affordability ensures that you can enjoy the benefits of modern banking without breaking the bank.
Please note that the information provided here is subject to change, and it’s essential to refer to Capitec Bank’s official resources for the most up-to-date and accurate fee information.
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