How to Transfer Money using Capitec

How to Transfer Money using Capitec

How to Transfer Money using Capitec

Capitec Bank is a South African retail bank that offers a variety of banking services, including money transfers. There are three main ways to transfer money using Capitec.

Ways to Transfer Money Using Capitec

  1. The Capitec app 
  2. Internet banking 
  3. USSD

Using the Capitec App

The Capitec app is the easiest and most convenient way to transfer money. To do this, follow these steps:

  1. Open the Capitec app.
  2. Tap on the “Transact” tab.
  3. Tap on “Send money”.
  4. Enter the recipient’s cellphone number or Capitec account number.
  5. Enter the amount you want to send.
  6. Create a 4-digit secret code.
  7. Tap on “Send money”.

Using Internet Banking

To transfer money using internet banking, follow these steps:

  1. Go to the Capitec internet banking website, https://www.capitecbank.co.za
  2. Sign in to your account.
  3. Click on the “Payments” tab.
  4. Click on “Send money”.
  5. Enter the recipient’s cellphone number or Capitec account number.
  6. Enter the amount you want to send.
  7. Create a 4-digit secret code.
  8. Click on “Send money”.

Using USSD

To transfer money using USSD, follow these steps:

  1. Dial *120*3279#.
  2. Select option 9 for “Send money”.
  3. Enter the recipient’s cellphone number or Capitec account number.
  4. Enter the amount you want to send.
  5. Create a 4-digit secret code.
  6. Enter your Mobile Banking PIN.

FAQs 

How do I transfer money using the Capitec app?

To transfer money using the Capitec app, follow these steps:

  1. Open the Capitec app.
  2. Tap on the “Transact” tab.
  3. Tap on “Send money”.
  4. Enter the recipient’s cellphone number or Capitec account number.
  5. Enter the amount you want to send.
  6. Create a 4-digit secret code.
  7. Tap on “Send money”.

How do I transfer money using internet banking?

  1. Go to the Capitec internet banking website, https://www.capitecbank.co.za
  2. Sign in to your account.
  3. Click on the “Payments” tab.
  4. Click on “Send money”.
  5. Enter the recipient’s cellphone number or Capitec account number.
  6. Enter the amount you want to send.
  7. Create a 4-digit secret code.
  8. Click on “Send money”.

How do I transfer money using USSD?

  1. Dial *120*3279#.
  2. Select option 9 for “Send money”.
  3. Enter the recipient’s cellphone number or Capitec account number.
  4. Enter the amount you want to send.
  5. Create a 4-digit secret code.
  6. Enter your Mobile Banking PIN

How long does it take for a money transfer to go through?

The time it takes for a money transfer to go through depends on the method you use. If you use the Capitec app or internet banking, the money should be available in the recipient’s account within minutes. If you use USSD, the money should be available in the recipient’s account within 2 hours.

Are there any fees for transferring money using Capitec?

There are no fees for transferring money between your own Capitec accounts. However, there are fees for transferring money to other banks. These fees vary depending on the amount of money you are transferring and the method you use.

How can I track my money transfer?

You can track your money transfer using the Capitec app or internet banking. Once you have initiated the transfer, you will be given a reference number. You can use this reference number to track the status of your transfer.

What if I make a mistake when transferring money?

If you make a mistake when transferring money, you can contact Capitec customer service. They will be able to help you cancel the transfer or correct the mistake.

How can I protect myself from fraud when transferring money?

There are a few things you can do to protect yourself from fraud when transferring money:

  • Only transfer money to people you know and trust.
  • Never give out your Capitec PIN or secret code to anyone.
  • Be careful of phishing emails and text messages that ask for your Capitec account information.
  • Report any suspicious activity to Capitec customer service immediately.

What are the limits on money transfers using Capitec?

The limits on money transfers using Capitec vary depending on the method you use. The daily limit for money transfers using the Capitec app or internet banking is R50,000. The daily limit for money transfers using USSD is R10,000.

Can I transfer money to an international bank account?

Yes, you can transfer money to an international bank account using Capitec. However, there are some fees associated with international transfers. You can find more information about international transfers on the Capitec website.

Conclusion 

Capitec offers a variety of ways to transfer money, including the Capitec app, internet banking, and USSD. The best method for you will depend on your needs and preferences. 

If you need to transfer money quickly and easily, the Capitec app or internet banking are the best options. If you do not have access to the internet or a smartphone, USSD is a good option.

When transferring money, it is important to be aware of the fees involved. There are no fees for transferring money between your own Capitec accounts. However, there are fees for transferring money to other banks. These fees vary depending on the amount of money you are transferring and the method you use.