Capitec Bank is one of the most affordable banks in South Africa. Opening a bank account at Capitec is very easy and effortless. This is a guide on how to open a Capitec account and the types of accounts that are available to open at Capitec.
Opening an account at Capitec doesn’t require a lot of things. This is something that you can’t do online. You have to go directly to your nearest Capitec branch to open an account, I think this is mainly because there are too many papers that you need to sign and they also collect your fingerprints.
To open an account at Capitec Bank, you need:
That’s all you really need, go to the bank and tell them you want to open an account. They will make you sign and initial multiple papers and finally take your fingerprints then install the remote banking app for you if you have a mobile phone.
Capitec Bank doesn’t offer a stokvel account at this point in time. Members of a stokvel would have to open a bank account under someone’s name and deposit money to it. That’s if they want all the benefits that come with having a Capitec Bank account.
A joint savings account works a lot like a stokvel account. Capitec Bank doesn’t offer a savings account plan at this point in time. The best thing you can do is open another card and deposit money into it. This can be a flexible savings account or a virtual card.
This was a guide on how to open a Capitec Bank account. Do you have any thoughts or questions? Comment below.
Daily Income is a South African based personal finance website.
Daily Income is not a financial services provider and should in no way be seen as one. We gather the information for our articles from reliable sources. The articles are of a general nature and do not purport to offer specialised and or personalised financial or investment advice. Neither the author, nor the publisher, will accept any responsibility for losses, omissions, errors, fortunes or misfortunes that may be suffered by any person that acts or refrains from acting as a result of these articles.
