Capitec has launched its 'Simple Fees' campaign. The initiative is built around a '1, 2, 3, 6, 10' fee structure and a jingle sung by the children of Capitec employees, making banking fees transparent and easy enough for anyone, even a child, to understand and sing about.
Francois Viviers, Group Executive of Marketing and Communications at Capitec, says the campaign responds directly to South African Reserve Bank Research, which highlights that while bank account ownership is high at 91%, a concerning 33% of account holders use their accounts merely as "mailboxes," withdrawing all funds immediately upon deposit.
"Our client feedback reveals that for too long, high banking costs and complex fee structures have acted as a hidden tax on financial participation. This issue extends beyond fees to essential services like insurance, data and airtime, eroding South Africans' trust in these various sectors. When South Africans cannot easily understand or predict the cost of a transaction, they often don't fully grasp the value they are receiving either," adds Viviers.
Banking Becomes as Easy as '1, 2, 3, 6, 10'
Capitec says it has released a new model built around five price points, making daily banking costs predictable:
- R1 for payments to other Capitec clients
- R2 for payments to other banks
- R3 for debit orders
- R6 for real-time immediate payments to any bank in SA, and
- R10 for cash withdrawals at any bank's ATM (per R1000 or part thereof).
The bank says it launched a nationwide campaign on Monday, 14 April, across television and radio platforms to bring this message of simplicity and clarity to life. At the heart of the campaign is a jingle performed by an unexpected choir — the children of Capitec employees. This approach transforms a typically dry financial subject into something memorable, relatable and deeply human, underscoring the core message that Capitec's fees are now so simple that even a child can understand and sing about them.
"We are driven by the purpose of making a meaningful difference, and we wanted to strip banking back to its essentials so our clients know what they pay for. This campaign reinforces the fundamentals of simplicity, transparency and affordability that Capitec is known for. By casting our own employees' children, we deliver the message effectively and celebrate our Capitec community, their families and the trust they place in our brand," says Viviers.
Viviers concludes, "This initiative underscores Capitec's position as a bank focused on empowering South Africans through understandable, affordable banking solutions. The '1, 2, 3, 6, 10' fee structure and the accompanying campaign signal Capitec's continued commitment to being the bank for all, making managing money clearer and more accessible. Capitec's approach challenges various sectors to adopt similar transparency, fostering competition that ultimately delivers better value for all South Africans."
For more information, visit www.capitecbank.co.za. You can also follow Capitec on Facebook, X, or on Instagram.
*Image courtesy of Facebook