Western Cape Business News

Send  Share  RSS  Twitter  30 Nov 2011

FINANCE: Capitec Can Help Businesses Too


Recent Western Cape Business News

WHILE Stellenbosch-based Capitec Bank does not offer business banking for close corporations, companies, partnerships or trusts, it does offer a range of services to help companies save money and improve productivity.

Its point-of-sale payment solution is ideal for traders, retailers and wholesalers, and supports both restaurant and retail terminal software applications. It offers a competitive fee structure and one can keep your existing banking relationships. Merchant terminals are available as either a portable or desktop unit, and accept all debit, credit, chip and charge cards (American Express/Diners Club International if you are registered with them) so customers have more payment options.

The bank’s secure and convenient web-based salary transfer facility allows one to make cost-effective salary transfers and bulk payments at the lowest transaction fees, any time or place. There’s no monthly subscription, special software, call-out fees or hidden costs, and you can keep your existing banking relationships. Paying employees electronically is also safer than drawing cash at an ATM, Capitec says.

Employees who are under financial stress are typically the least productive because they are anxious and unfocused. Equipping your employees with basic financial skills will empower them to take control of their finances and become more productive with a newfound sense of financial wellbeing. Capitec’s financial skills presentation for employees, community groups and schools was developed in recognition of the fact that basic skills are the foundation for financial independence. The presentation is free of charge and supports national initiatives such as the National Skills Development Strategy.

Most employees are simply unable to visit a bank during the week, citing tight production schedules and lack of transport as some of the factors. Fortunately, Capitec can now bring the bank to them so they can open bank accounts onsite. This service is offered free of charge and helps reduce absenteeism, which maintains overall productivity. Global One is a single solution to money management that offers transparent banking with lower bank costs and fixed fees per transaction, and employees simply cannot afford to miss out, the bank argues.

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