capitec bank account

How to Open a Bank Account with Capitec Bank

Capitec Bank is one of the biggest South African banks operating in the retail sector. The bank has a variety of products designed specifically for individuals as well as business banking through its newly acquired Mercantile Bank.


As of August 2020, the bank was the second-largest retail bank in South Africa, based on the number of customers, with 130,000 customers opening new accounts per month.

This growth has resulted in the bank creating different types of banking products such as Bank Accounts to meet the needs of their ever-expanding customer demands.


We take a brief look at the different bank account types and how you can easily open an account with Capitec in South Africa.

Type of Capitec Bank Accounts

Capitec Bank has different variety of account types tailored for different purposes and needs. types of Capitec Bank accounts include but are not limited to

  • The Capitec Transactional Account
  • Capitec Savings Accounts
  • Capitec Tax-Free Savings Account
  • Capitec Business Account
  • Capitec Fixed Deposit Account

How to Open a Capitec Bank Account

The growing number of Capitec Bank customers can not be emphasized enough. Due to the ease of doing business with Capitec Bank, individuals and businesses are finding it more convenient to open personal and business accounts (Mercantile Bank) with Capitec Bank.

There are two main ways of opening a bank account with Capitec bank. The first method of opening a bank account with Capitec Bank is by using the traditional method of walking into a Capitec Bank Branch near you. And the remote banking method by using the Capitec Mobile App.

Opening Capitec Bank Account at a Branch

You can open a Capitec Bank account in any of the branches in minutes if all your documents are in place. All you have to do is to walk into any Capitec bank near you with the following documents in order to open the bank account.


Documents Required to Open Capitec Bank Account

To open a bank account at any branch of Capitec Bank, you need the following documents in order to make the whole process very easy and fast for you.

  • A valid SA ID or passport. 
  • Email Address
  • SA cellphone number
  • A smartphone to take selfies.
  • Proof of Residence

Capitec Bank account opening at every bank is totally free. You must however have a minimum balance of R25. 00 in your Capitec bank account to keep the account active.

How to Open a Bank Account Using Capitec Mobile App

The easiest and fastest way to open a Capitec bank account is by using remote onboarding.

To open a Capitec account from anywhere in minutes, you need first of all to make sure you have downloaded the Capitec Mobile App.

Documents Required to Open Capitec Account Online

  • Capitec Mobile App
  • A valid SA ID or Passport
  • An Email Address
  • South African Cellphone number
  • A smartphone to take selfies
  • Internet connection

After following the account opening steps on the Capitec mobile app, the only thing you may have to do thereafter is to visit a branch to collect your card. However, if you’re unable to visit a branch, there is a virtual card that is available immediately on the app.

Opening a bank account with Capitec bank is easy and simple. There are two main methods to open an account, these are the traditional method of visiting any Capitec bank branch to open an account OR the Remote onboarding where you open your bank account using the Capitec bank mobile app by following some very simple steps.


Since Capitec Bank is one of the best performing Banks in South Africa, Opening a bank account with Capitec should be fancied by many. The steps provided above on How to Open a Bank Account with Capitec Bank should be able to guide you through the step-by-step process with ease.