New Capitec banking fees for 2016
Capitec has announced its new fee structure for the 2016 to March 2017 banking year.
Capitec currently offers only one account – the Global One – which targets both lower and middle-market customers.
The bank prides itself on its fixed fees, where it largely doesn’t charge clients based on the amount they transact with. For the 2016/17 period, the Global One account fee increased 5% to R5.25.
For the most part, transaction fees for 2016/17 tracked higher with the inflation rate, though some fees increased above inflation – such as cash handling or cheque handling services – due to increased risk and administration costs.
Capitec 2016/17 key fee changes
| Fee/Transaction | 2015/16 Fee | 2016/17 Fee | Change |
|---|---|---|---|
| Withdrawal (Native) | R5.00 | R5.50 | 10.0% |
| Withdrawal (Cash at till) | R1.25 | R1.30 | 4.0% |
| Withdrawal (Other) | R8.00 | R8.50 | 6.3% |
| Withdrawal (International) | R45.00 | R50.00 | 11.1% |
| Deposit (ATM) | 70c per R100 | 80c per R100 | 14.3% |
| Account fee (PAYT) | R5.00 | R5.25 | 5.0% |
You can view Capitec’s full fee schedule for 2016/17 here.
The new banking fees take effect from 1 March 2016.
For a comparison, you can see BusinessTech’s coverage of banking fees for 2016, which has been updated with the new Capitec prices.
See: Here are your banking fees for 2016
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