JOHANNESBURG - South Africans took to social networking site, Twitter, on Wednesday morning with users tweeting about the long queues they have to wait in at Capitec ATMs.
While some users complained about the long lines at the bank's ATMs, others lauded the bank for the low service charges that they offer to customers with other banks charging a higher rate for using a different ATM as well as the rates charged for immediate payments.
Users said that Capitec charges R8 for immediate payments to be made from their accounts while other banks charge a higher amount.
Capitec told Business Report in an email, "Our clients can make immediate payments for the low fixed fee of R8 per transaction. This is less than half of the fee charged by the traditional banks and has led to us doing 32% of all immediate payments in South Africa. We continually strive to challenge the norms of banking and this is one way we are helping our clients bank better."
Take a look at what SA had to say on Twitter below:
NEDBANK :🏃🏃🏃
ABSA: 🏃🏃🏃🏃
FNB: 🏃🏃
STANDARD BANK 🏃🏃🏃🏃🏃
CAPITEC : 🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃🏃
I use Capitec and i withdraw wherever I want, me and queues don't get along. https://t.co/sxF1rfYhvk
— Tomi Rikhotso (@TomiRikhotso) October 9, 2019
Yes Capitec has the longest lines but I’ll gladly take that R8.50 charge to withdraw at a different bank than to pay R40 for my friend using Standard Bank to get her money immediately.
— Kimmy🏳️🌈 (@Mammi_Kim) October 9, 2019
Me : lets go to the Absa ATM the queue is short
Capitec client: pic.twitter.com/iy5ymALOZd
Those ones choose to. Capitec users can withdraw from any atm
— Andria (@Neighbor_Hater) October 9, 2019
ATM withdrawal: R6/R1000
— Mjebhula.Himself (@liindo_d) October 9, 2019
Till point w/drawal: R1
Swipe/Cashback: Free
Instant transfer: R11
E-wallet: R10.95 (so we don't have to ask "do you have capitec" when we need to send money)...
Easy Acc fee: R4.75...
Small difference, in pricing but huge difference in quality banking...
It's not slander when it's the truth. Capitec has queues long as the Nile. https://t.co/zS0ur5cg40
undefinedIts even less that R5 using capitec card on a standard bank atm🤷🏽♀️ https://t.co/yYnyZ23OdL
— Ndiwe💥 (@Ndiwe_Yola) October 9, 2019