The banking industry and the flexible credit industry has over the years gone through tremendous transformation. Over the past decade, there has been a significant transformation in banks business models. In the last ten years the access to market based funding and wholesale deposits have allowed banks to raise large amounts of funding at relatively low costs in order to finance the provision of new loans. One banking brand at the heart of all this is Capitec.
Capitec Bank is a commercial bank in the republic of South Africa. It is one of the locally controlled banks licensed by the Reserve Bank of South Africa. Established in 2001, this bank has introduced the masses to the fact that when it comes to banking, simplicity is the ultimate sophistication.
This bank operates as a retail bank that serves both individuals and businesses, but does not provide business banking for close corporations, companies,partnerships or trusts. Capitecs product and service bouquet can be categorised into global one, money management and business services.
Global one allows users to transact, save and secure credit.The transaction or savings account is your main account that gives you affordable banking and up to 4 extra flexible, fixed or tax free savings plans. With only R25 minimum balance and R5 monthly admin, you can earn from 4.5% interest per year on daily balances, easiest transactions at lower and transparent bank costs as well as easy access to your money using Global One card and remote banking.
Money management has been designed to assist those wishing to buy a dream home. Business services are tailored for customers and employees.This is done in form of card machines, salary transfers, workplace banking and financial skills.