Wolmaransstad Link: Capitec has announced new banking fees for the year 2025

Wolmaransstad - Capitec has unveiled its new banking fees for 2025, which includes a new structure to simplify its pricing even further

Capitec said that the simplified and reduced fee structure for 2025 marks a major step toward making banking more accessible and affordable for all of its customers

The new structure will also simplify banking fees by introducing reduced prices for key services

The new fee structure revolves around five key price points: R1, R2, R3, R6, and R10

By simplifying over 30 price points into these clear tiers, Capitec said that it makes its banking fees more transparent:

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 R1000, at Capitec or other banks’ ATMs

“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,” said Francois Viviers, Group Executive of Marketing and Communications at Capitec

When it comes to business banking clients, Capitec will offer the same rates as personal banking accounts

It said that this change underscores the bank’s commitment to fostering economic inclusion and growth for both entrepreneurs and small businesses.

Business accounts will require a minimum balance of R150 and include a monthly fee of R50, which will provide access to a dedicated relationship suite available 24/7 for personalised support

The monthly account fee for personal banking clients will remain unchanged at R7.50, which will maintain Capitec’s position as one of the nation’s ost affordable banks

The monthly administration fee for credit cards stands at R50

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

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

“This philosophy extends across our entire product range – from everyday banking to insurance and Capitec Connect”

“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”