BANKING: Capitec Targets Business Owners
Recent Western Cape Business News
MERCHANT point-of-sale terminals, workplace banking and salary transfers – these are among the services that Capitec Bank offers employers and business owners in the public and private sector.
“The advanced systems which underpin these services hold two advantages in particular, namely cost-effectiveness and ease of use. These services are made even more attractive by their clear cost structures, transparent terms and solid support,” says Henk Lourens, national sales manager of Stellenbosch-based Capitec Bank.
The bank’s merchant terminals allow for the secure processing of credit and debit card payments. Capitec Bank’s workplace banking services enables employees to do all their non-cash banking at work – such as opening accounts in real time, transferring money, arranging debit orders, obtaining account balances and paying accounts. For employers, this translates into reduced absenteeism. For employees, this means better access to banking and better money management. Capitec Bank’s salary transfer system allows employers to pay weekly and/or monthly wages and salaries electronically at highly competitive rates.
“Employers can use Capitec Bank’s secure salary transfer system even if they do not bank with us. They can pay any number of employees, literally saving up to thousands of rand on banking fees per month. Our business banking accounts are secure and easy to use. We will gladly refer those interested in using our web-based salary transfer system to clients that already use it to find out how user-friendly and cost-effective this is. Our system is compatible with all the payroll and human resources systems currently used in the industry.”
The bank also offers a range of financial skills workshops and courses to groups of employees as part of its social impact programme.
Established in 2001, the Capitec Bank’s technologically advanced banking system provides fast, highly accessible, secure and easy-to-operate banking at less than half the cost of other banks. As a retail bank, it focuses on providing affordable and accessible banking services for individuals by using technology innovatively. Hence, advanced technology delivers all products in real time, which means all actions, decisions and approvals can be made immediately without delay, according to Lourens.
In 2010, Credit Suisse identified Capitec Bank as one of the world’s 27 Great Brands of Tomorrow. The bank has a nationwide banking footprint of more than 455 branches and a national network of over 1 661 ATMs.
Capitec Bank is a registered clearing bank and a member of the Payments Association of South Africa. It is Saswitch-connected, which provides access to all local ATMs. It is also a Visa and MasterCard partner. As a registered credit provider, it subscribes to the Codes of Good Practice.
It offers a range of services designed to help companies save money and improve productivity. Note that the bank does not provide business banking for close corporations, companies, partnerships or trusts.
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