Capitec's New Jingle Makes Banking Fees As Easy As 1, 2, 3, 6, 10

Francois Viviers, Group executive: 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."

Banking becomes as easy as 1, 2, 3, 6, 10

In response to the country’s need for clarity and reaffirming its founding principles, Capitec consolidated over 30 distinct transaction fees into straightforward price points. This new model is 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
• R10 for cash withdrawals at any bank's ATM (per R1000 or part thereof)

The leading digital bank launched a nationwide campaign on 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 catchy and heartwarming jingle performed by an unexpected choir – the children of Capitec employees. This unique and joyful approach transforms a typically dry financial subject into something memorable, relatable, and deeply human, powerfully 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," adds Viviers.

Realising a commitment to driving financial inclusion

This commitment to simplicity isn't new for Capitec. Since its inception, the bank has challenged the notion that financial services must be complex or intimidating. It consistently works to remove the fine print, cut unnecessary costs, and build a bank that helps people live better.

Viviers says Capitec believes that genuine financial inclusion extends beyond mere account ownership to encompass meaningful participation and active usage. “By making banking fees easier to understand and predict, we hope to encourage South Africans to engage more confidently with financial tools, fostering better financial health and contributing to broader economic resilience.”

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.”