{"id":640392,"date":"2026-04-13T19:10:58","date_gmt":"2026-04-13T17:10:58","guid":{"rendered":"https:\/\/mybroadband.co.za\/news\/?p=640392"},"modified":"2026-04-14T09:14:41","modified_gmt":"2026-04-14T07:14:41","slug":"good-news-for-people-with-capitec-banking-accounts","status":"publish","type":"post","link":"https:\/\/mybroadband.co.za\/news\/banking\/640392-good-news-for-people-with-capitec-banking-accounts.html","title":{"rendered":"Good news for people with Capitec banking accounts"},"content":{"rendered":"\n

Capitec has introduced several initiatives to benefit its banking clients, including in-branch Smart ID services, as well as good news on fees.<\/p>\n\n\n\n

Capitec is South Africa\u2019s largest bank by customer numbers. This year, it surpassed 25 million clients.<\/p>\n\n\n\n

This means that over half of South Africa\u2019s adult population now carries a Capitec card, including 12 million youth clients.<\/p>\n\n\n\n

It is also one of South Africa\u2019s most valuable banks, with a market cap of nearly R500 billion. This is driven by many technological innovations.<\/p>\n\n\n\n

Many analysts noted that Capitec operates more like a technology company than a bank, which has led to a higher valuation than its traditional peers.<\/p>\n\n\n\n

Capitec co-founder Riaan Stassen explained that building Capitec\u2019s systems from the ground up saved them money and gave them simplicity.<\/p>\n\n\n\n

Having simpler systems that cost significantly less to operate allowed Capitec to offer customers better prices and remain profitable.<\/p>\n\n\n\n

Grant Nader from Benguela Global Fund Managers said Capitec has created a platform rather than a bank, which allows it to continually offer new services.<\/p>\n\n\n\n

\u201cThe way Capitec\u2019s management sees the business they have created is very different from traditional banks. The other banks are now trying to play catch-up,\u201d he said.<\/p>\n\n\n\n

Capitec\u2019s excellent technology stack, simple business model, and consistent innovation have helped it to serve its customers better.<\/p>\n\n\n\n

All Capitec\u2019s data resides in the cloud, which gives it more flexibility and allows it to offer services faster.<\/p>\n\n\n\n

Its mobile virtual network operator (MVNO), called Capitec Connect, is growing rapidly and enhancing its offering to clients.<\/p>\n\n\n\n

No increase in banking fees, and more branches and ATMs<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Good news for Capitec banking clients is that the company did not follow many other banks which increased their fees in 2026.<\/p>\n\n\n\n

Capitec\u2019s new banking fees, which kicked in on 1 March 2026, remained virtually unchanged from last year.<\/p>\n\n\n\n

In real terms, taking inflation into account, it means that Capitec\u2019s banking clients will pay less than what they did a year ago.<\/p>\n\n\n\n

Capitec also introduced an entrepreneur account, designed specifically around the needs of small and informal business owners.<\/p>\n\n\n\n

The account has no monthly fees for qualifying personal banking clients and allows card payments via a linked Capitec card machine with low commission.<\/p>\n\n\n\n

The account also gives entrepreneurs access to capital, with credit facilities of up to R500,000 based on business turnover to support growth.<\/p>\n\n\n\n

Another thing which makes Capitec stand out is that it is expanding its services and networks across South Africa.<\/p>\n\n\n\n

Most other large South African banks are downsizing branches, scaling back on ATMs, or going cashless.<\/p>\n\n\n\n

However, Capitec is planning a net increase in both branch footprint and ATM network in 2026. This will make it easier for customers to get cash or visit a branch.<\/p>\n\n\n\n

Capitec makes it easy to get a Smart ID<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Earlier this year, Capitec launched a partnership with the Department of Home Affairs (DHA) to provide clients with a quick and convenient Smart ID application service.<\/p>\n\n\n\n

Last month, Capitec expanded its Smart ID service by introducing self-service terminals to over 30 branches.<\/p>\n\n\n\n

These self-service terminals make it easier for South Africans to apply for their Smart ID cards while doing their everyday banking.<\/p>\n\n\n\n

Clients can submit their details digitally through a secure, paperless process that takes just five minutes to complete.<\/p>\n\n\n\n

Capitec\u2019s newly developed proprietary digital integration, built on Amazon Web Services, connects dedicated in-branch SSTs directly to DHA systems.<\/p>\n\n\n\n

This allows Capitec to scale the service quickly with strong stability and lower operational costs.<\/p>\n\n\n\n

The terminals are centrally managed, so new features and critical security updates can be deployed rapidly.<\/p>\n\n\n\n

Better security and better rewards<\/h2>\n\n\n\n
\"\"<\/figure>\n\n\n\n

Over the last few months, Capitec has launched numerous improvements to its rewards programme and banking security.<\/p>\n\n\n\n

Capitec\u2019s Live Better free rewards programme gives its banking clients cash back, with discounts and deals from numerous retailers.<\/p>\n\n\n\n

Clients can get 15% instant discount on more than 140 brands at Dis-Chem and get cash back when supporting Cashbuild and Tiger Wheel & Tyre.<\/p>\n\n\n\n

The bank also has numerous discount partners, offering up to 50% when supporting one of the companies on the Capitec platform.<\/p>\n\n\n\n

It has also invested heavily in security. \u201cWe\u2019ve built multiple layers of protection into our app so you can bank with confidence knowing your money is safe,\u201d Capitec said.<\/p>\n\n\n\n

The Capitec app supports biometric login, such as fingerprint or facial recognition, on compatible devices.<\/p>\n\n\n\n

\u201cIt\u2019s a quick, secure way to keep your account safe without needing to type in your PIN every time,\u201d it explained.<\/p>\n\n\n\n

The bank also allows users to lock features they don\u2019t use and offers in-app call verification to address suspicious calls.<\/p>\n\n\n\n

Capitec is also the first bank in South Africa to use real-time payment tracking to stop fraud before it happens.<\/p>\n\n\n\n

\u201cBy recording and analysing every payment instantly, we detect suspicious activity and block payments to high-risk accounts before your money leaves your account,\u201d it said.<\/p>\n\n\n\n

\u201cWhen we flag a payment, you\u2019ll be prompted to complete a quick security screening to assess the risk. You can then choose to cancel or continue with the payment.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Capitec has introduced several initiatives to benefit its banking clients, including in-branch Smart ID services, as well as good news on fees.<\/p>\n","protected":false},"author":23,"featured_media":640401,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10106],"tags":[5334,81699,85435,104476],"class_list":["post-640392","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-capitec","tag-capitec-connect","tag-riaan-stassen","tag-virtual-network-operator-mvno"],"_links":{"self":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/640392"}],"collection":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/users\/23"}],"replies":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/comments?post=640392"}],"version-history":[{"count":7,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/640392\/revisions"}],"predecessor-version":[{"id":640627,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/posts\/640392\/revisions\/640627"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media\/640401"}],"wp:attachment":[{"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/media?parent=640392"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/categories?post=640392"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mybroadband.co.za\/news\/wp-json\/wp\/v2\/tags?post=640392"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}