Capitec Bank has announced that it won’t increase its bank fees this year. Bank fees are traditionally hiked on March 1 each year, but Capitec has opted out, saying that South Africans are already under financial pressure with hikes in electricity, food, petrol and school fees to contend with.
With the 2010 fees still in place, Capitec Bank’s Global One facility — a simplified solution to all daily money management needs — means clients will still enjoy free debit card swipes at all points-of-purchase; a flat fee of R3,75 for withdrawals at own ATMs; a R7 flat fee at other banks, no matter what the amount, and a monthly admin fee of R4,50.
For the full range of rates, Capitec’s website.
Read more news, blogs, tips and Q&As in our Smart Money section. Post questions on the site for independent and researched information