Capitec bank fees: Capitec Bank recently released a newsletter that detailed the transaction habits of South Africans. The research compiled informal data to deduce the main methods of transactions that are used by an average South African and found that 45% of the time debit cards were used for purchases, while 35% of the time, individuals used their ATM cards to withdraw money. The remaining 20% of the time debit orders were used.
The reason behind conducting this study was to analyze how much a South African pays in banking fee every month. The results were astonishing as the study concluded that an average monthly fee payout was about R208. This was in stark contrast to the fee applied by Capitec for the same habits as the figure stood at R61; 70% lower than that of what other banks charge.
Typically, bank fee are often published in a very confusing way to mislead consumers into making decisions they otherwise would not. However, with Capitec, all fees are clearly published and as a perk they are much lower when compared to other banks.