How to Transfer Money Using Capitec App

Transferring money has never been easier, especially with the rise of mobile banking apps.

The Capitec App is designed to make your banking experience smooth and hassle-free.

In this post, we’ll show you the basics of setting up the Capitec app. We’ll also give you a step-by-step guide on how to transfer money and we’ll give you some tips to carry out secure transactions.

So grab your phone and get ready to learn how to make the most out of the Capitec App.

1What is Capitec?

2How does the Capitec App work?

3Do I need to be a Capitec customer to use the app?

4How do I download the Capitec App?

5Are there any fees involved in transferring money?

6How long does it take for the recipient to receive the money?

7How to Transfer Money Using Capitec App

8Frequently Asked Questions

9Final Thoughts

10Reference

11Recommendations

What is Capitec?

Capitec is a new bank in South Africa and it’s very popular because it’s so unique in the way that it does banking.

Founded in 2001, it focuses on providing affordable and accessible financial services to individuals and small businesses.

The Capitec model is all about simplicity; they offer easy digital banking and minimal fees, so it’s no wonder so many consumers who want uncomplicated banking opt for Capitec as their bank of choice.

A unique selling point of Capitec is its innovative savings account with very good interest rates and incentives to save better.

Plus, they have a user-friendly app so that customers can take care of their accounts right from their phones.

The one thing that Capitec has been recognized for is that they are there to help their clients reach their financial goals and to make banking as easy as possible.

How does the Capitec App work?

The Capitec App is banking made easy at the tip of your fingers. After you download the app, of course, you’ll be prompted to log in, be it with a username and password, or just a touch or glance of your fingerprint or face.

It is a very user-friendly application where you can check your account balances and transaction history, and you can even manage multiple accounts all in one place.

This Capitec app has really made banking a more convenient thing to do. You can do things like transferring money, paying bills, and even buying airtime.

It also allows you set up some savings goals and shows you your spending habits with its personalized insights.

Do I need to be a Capitec customer to use the app?

Well, not really, because you don’t actually have to be a Capitec customer to use their app. Although the app does a lot for Capitec account holders like manage your banking transactions, etc., it also has some very nice features not exclusively available to Capitec account holders.

For example, you can read up on budgeting advice or financial education tools that would assist anyone in becoming better at managing their money.

Even if you’re not a Capitec customer, but are thinking of joining them, downloading the app lets you kind of see what it is all about.

It is very easy to use and it has so many cool little tools that make banking much more convenient.

Also Read – How to Borrow Money from Fidelity Bank in Nigeria | A Step-by-Step Guide

How do I download the Capitec App?

It is simple to download the Capitec App. The process is simple, if you have an Android device just go to the Google Play Store.

Go to the Apple App Store (iPhone users) Just search for “Capitec Bank” in the search bar in both stores, and you should get the app.

Search for the application, click on “Download” or “Get”, and that app will automatically start the downloading installation process.

Once the app is downloaded onto your phone, you just open it up and answer a few questions to link it with your banking details. And there you go.

You can get your banking needs anytime at your fingertip any problems you encounter while setting it up, please do not hesitate to ask for help.

Are there any fees involved in transferring money?

True, the process can cost you money as well with fees varying based on how you route those funds. For instance, a bank transfer may have a set fee or charge you as a percentage of the money being sent, even more so when transiting globally.

In the same way, services like PayPal or even Venmo might run up a cost for an immediate transfer that takes place when a credit card is used as opposed to a bank account.

Before you send any transfer through the service, it is always best to check out the terms and conditions of the service.

For example, they may offer free transfers among friends or family members if you pay using your bank account; or have promotional periods where no fees are applied. Knowing about these can aid in saving which you appreciate and give your change a trouble-free transfer.

How long does it take for the recipient to receive the money?

If you send money with Capitec, the person usually gets it pretty much straight away, minutes even.

The transaction is usually processed almost immediately if you’re using the Instant Money service or transferring funds between Capitec accounts.

So your friend or family member gets immediate access to their money.

However, transferring money to a different bank might take a bit longer—usually up to one business day.

It’s always a good idea to check the specific details of your transaction, as factors like banking hours and weekends can affect processing times.

Also Read – How to Borrow Money from Union Bank App in Nigeria | A Step-by-Step Guide

How to Transfer Money Using Capitec App

Here’s a quick step-by-step guide on how to transfer money using Capitec App.

Step 1:

Download and Set Up the Capitec App If you haven’t already downloaded the Capitec app. You can find it on the App Store for iPhone users or Google Play Store for Android users.

Here’s how to download the App:

Search for “Capitec Bank” in your app store and click “Download”.

Register:

Open the app, and you’ll be prompted to register. Enter your ID number, cellphone number, and email address.

Activate:

To activate the app, you’ll need to visit a Capitec branch or ATM for a one-time setup. You can also do this using your card and PIN, it just depends on how your account is set up.

Secure the App:

Set up your access PIN, which you’ll use for logging in and authorizing transactions. Once your app is up and running, you’re ready to start transferring money.

How to transfer cash using Capitec app

Tap Transact
Tap the button to send cash
Choose the “From” account
Enter the amount you want to send
Come up with a 4-digit code (this will be used to get the money).
Tap Send
Check the terms and conditions, check the boxes, click Accept.
Tap Yes to confirm the transaction
Click on the Share Reference Number button on the Send cash transaction’s successful screen to share the reference number
And then send the secret code to the other person in another message.

Also Read – How to Borrow Money from MTN App in Nigeria | A Step-by-Step Guide

How to send cash using Internet banking

Step 2:

Step 3:

Navigate to the payments section after logging in, you’ll see a clean, straightforward dashboard displaying your account balances and various options.

To initiate a transfer:

Click on the transact button at the bottom. From the list of options, select “Payments.”

Step 4:

Select the recipient

With the Capitec app, it is very simple to transfer money to different kinds of recipients.

To a Saved Beneficiary:

If you’re sending money to someone you’ve paid before, select “Beneficiary” and choose from the list of saved contacts.

To a New Beneficiary:

To add a new beneficiary, click on “Add Beneficiary” and enter the recipient’s details, including their bank account number, bank name, and branch code if required. You can also add a reference for the payment to help the recipient identify the transaction.

Step 5:

Once you’ve selected your recipient, enter the amount you wish to transfer. Double-check that you’ve entered the correct amount and recipient details to avoid any mistakes.

Step 6:

Review and confirm the transfer before completing the transfer. Review all the details to ensure everything is correct. This includes the recipient’s name, account number, and the transfer amount. Be sure to look out for fees though, especially when transferring to other banks or using the instant payment feature. If everything looks good, proceed to the next step.

Step 7:

Authorize the transaction to finalize the transfer. Enter your access PIN. Alternatively, if you have biometrics enabled, use your fingerprint or face recognition.

Step 8:

You will receive confirmation when the transaction is finished. It will say so on the screen of the app, and sometimes if you have notifications turned on it will send you a text message or email to confirm. Usually, the person who receives it gets it right away, especially when transferring to another Capitec account.

How to send cash using USSD

Dial 1203279# and reply 9
Accept the terms and conditions
Reply 1
Choose “From” account
Enter the amount you want to send
Create a 4-digit secret code (this will be used to collect the cash)
Enter your Mobile Banking PIN

Frequently Asked Questions

Is my personal information safe when using the app?

Yes! The Capitec App uses top-notch encryption and security measures to keep your personal and financial information under lock and key.

Can I transfer money with the Capitec App?

As of now, you can’t make international money transfers through the app; you might need to stop by a branch or use other services to do that.

What should I do if I run into problems while transferring money?

If you hit any snags take a look at their FAQ section in the app or reach out to the customer support team—they’re always ready to lend a hand.

Final Thoughts

It is so easy to transfer money on the Capitec app, it makes managing your money a lot less stressful.

You can transfer money to friends and family and pay for services with the touch of a few buttons on your phone.

The app’s user-friendly interface and secure features ensure that your transactions are safe and efficient every time.

Whether it’s splitting the bills or sending gifts, Capitec will always come through for you. So why not give it a try today.

Have any questions or want to know more? Drop a comment below. Also, make sure to keep up with us on social media for more helpful tips and news. You can find us here:

Facebook: Silicon Africa
Instagram: Siliconafricatech
Twitter: @siliconafritech.