Capitec Clients Can Now Withdraw Cash From Any Bank’s ATM At The Same Fees

Capitec Clients Can Now Withdraw Cash from Any Bank’s ATM at the Same Fees

Capitec Bank has introduced a game-changing update for its customers, allowing them to withdraw cash from any bank’s ATM in South Africa at the same fee they would incur at a Capitec ATM.

This move comes as a solution to the persistent issue of long queues at Capitec ATMs, driven by the bank’s growing customer base.

As Capitec’s popularity surges, with the number of active customers rising to 22 million in 2024 from 19.9 million in 2023, the demand for cash withdrawals at Capitec ATMs has intensified.

Despite the availability of electronic transaction options, many customers still prefer cash, leading to longer wait times at Capitec ATMs compared to those of other banks.

To address this, Capitec Bank has begun encouraging its clients to use ATMs from other major banks, including ABSA, FNB, Nedbank, and Standard Bank, to withdraw cash.

The bank has simplified the process by ensuring that the fee for these withdrawals remains consistent, regardless of the ATM used.

This means Capitec customers can now enjoy the convenience of withdrawing cash from any ATM without worrying about additional fees or long queues.

The bank has communicated this update directly to its customers through SMS, stating:

“Withdraw cash from any bank’s ATM in South Africa at the same rate. Avoid queuing at ATMs.”

This initiative is part of Capitec’s broader strategy to reduce congestion at its ATMs and enhance customer experience.

While this move has been well-received, social media has seen some light-hearted banter, with loyal Capitec customers joking about their habit of waiting in long queues at Capitec ATMs, even when other bank ATMs are readily available.

In addition to this, Capitec continues to promote its Pay Me feature within its banking app, which allows customers to generate personalized QR codes for instant and secure payments from other Capitec users.

This feature is part of the bank’s effort to encourage electronic transactions and reduce reliance on cash withdrawals.

By offering the same withdrawal fees across all ATMs in South Africa, Capitec Bank is taking significant steps to alleviate the pressure on its ATM network and provide a more convenient banking experience for its growing customer base.