Capitec Business introduces a groundbreaking banking solution for South African businesses, offering the same pricing as personal banking to save businesses up to 50% in banking fees.
- The bank aims to break barriers by providing simplicity, transparency, and affordability across all business sectors and sizes, challenging the complex products and convoluted fee structures of traditional banking.
- Effective from 1 March, Capitec Business implements a flat monthly fee of R50 and transaction fees that apply to 21 million personal banking clients, regardless of business size or format.
- Supporting SMEs is a priority for Capitec, as it believes that by helping them grow, they can stimulate job opportunities and contribute to the country’s economic growth.
- The new transaction fees include savings of up to 50%, a free virtual card for online transactions, zero fees on local card payments, and affordable rates for payments, transfers, and debit orders.
- Capitec disrupts the conventional business banking model by offering one account to all businesses at the same affordable price, aligning with its ethos of simplicity and affordability.
- In addition to competitive fees, Capitec provides a range of products and services including digital banking, personalised service through Relationship Bankers, quick approval for finance, and convenient solutions for forex, rental finance, and payments.