Sending money to friends and family in South Africa just got easier with Capitec Cash Send. This handy service lets you transfer funds to anyone in the country, even if they don’t have a bank account.
You can send up to R3,000 per transaction using the Capitec mobile app, internet banking, or USSD code.
The process is simple and quick. Once you’ve sent the money, the recipient gets a reference number and secret code. They can then collect the cash at various outlets across South Africa. It’s a brilliant solution for those times when you need to help out a mate or send money to a relative in a pinch.
Capitec Bank has made sure this service is accessible to everyone. Whether you’re tech-savvy or prefer more traditional methods, there’s an option that suits you. The bank’s commitment to making financial services available to all South Africans shines through with this clever cash send feature.
Understanding Capitec Cash Send
Capitec Cash Send is a user-friendly service that lets people send money quickly and easily. It offers a simple way to transfer funds to anyone in South Africa, even if they don’t have a bank account.
How Cash Send Works
Capitec Cash Send allows customers to send money using their mobile app, internet banking, or USSD codes.
To send cash, a person chooses the amount and creates a secret code. Then, the sender shares a reference number and the secret code with the recipient.
The recipient can collect the money from any Capitec ATM. They don’t need a bank account or card. They just enter the reference number and secret code at the ATM to get their cash.
It’s a safe way to send money. The secret code adds an extra layer of security. Only the sender and recipient know this code.
Benefits of Using Capitec Cash Send
Capitec Cash Send offers several advantages:
- Convenience: Send money anytime, anywhere using a mobile phone or computer.
- Accessibility: Recipients can collect cash even without a bank account.
- Speed: Transfers happen quickly, often instantly.
- Security: The secret code system helps keep transactions safe.
- Affordability: Fees are often lower than other money transfer services.
Cash Send is great for sending money to family or friends. It’s also useful for paying workers who might not have bank accounts. The service works across South Africa, making it easy to send money to people in different parts of the country.
Step-by-Step Guide to Sending Cash
Sending cash with Capitec is quick and easy. There are two main methods to choose from: using the Capitec App or USSD codes. Both options allow you to send money to anyone in South Africa, even if they don’t have a bank account.
Using the Capitec App
The Capitec App offers a user-friendly way to send cash. Here’s how to do it:
- Open the Capitec App and log in.
- Tap on ‘Transact’ and select ‘Send cash’.
- Choose the account you want to send from.
- Enter the amount you wish to send.
- Create a 4-digit secret code for the recipient.
- Review the details and confirm the transaction.
The app will generate a reference number. Share this and the secret code with the recipient. They can collect the cash at any Capitec ATM or partnering retailer.
Using USSD Codes
For those without smartphones, USSD is a great option. Follow these steps:
- Dial 1203279# on your mobile phone.
- Select ‘Send cash’ from the menu.
- Choose the account to send from.
- Enter the amount you want to send.
- Create a 4-digit Remote PIN.
- Confirm the transaction.
You’ll receive a reference number. Give this and the Remote PIN to the recipient. They can then collect the money at a Capitec ATM or partnering shop.
Withdrawing Sent Cash
Capitec Cash Send offers flexible options for recipients to access their funds. The service allows for easy withdrawals at Capitec ATMs and various partner retailers across South Africa.
At Capitec ATMs
Capitec ATMs provide a quick and convenient way to withdraw sent cash. Recipients don’t need a bank card or account to access their funds. They simply enter the unique reference number and PIN provided by the sender.
The process is straightforward:
- Select ‘Cardless Services’ on the ATM screen
- Choose ‘Cash Send Withdrawal’
- Enter the reference number
- Input the PIN
- Select the amount to withdraw
It’s important to note that daily withdrawal limits may apply. Recipients should check their available balance before attempting a withdrawal.
At Partner Retailers
For added convenience, Capitec has partnered with several retailers to offer cash withdrawals. This network includes popular shops like Shoprite, Pick n Pay, Checkers, Game, Boxer, PEP, and Makro.
To withdraw at these locations:
- Inform the cashier about the Cash Send withdrawal
- Provide the reference number and PIN
- Show a valid ID document
- Receive the cash
Some retailers may have specific requirements or limits. It’s best to check with the store beforehand. This option is particularly useful for those who don’t live near a Capitec ATM or prefer to combine their withdrawal with shopping.
Safety and Security Features
Capitec Bank prioritises the safety of its Cash Send service. Users can feel confident knowing their money transfers are protected by multiple security measures.
Protecting Your Transactions
Capitec Cash Send uses several layers of security to keep transactions safe. When sending money, users must enter their Mobile Banking PIN or Remote PIN to confirm the transfer.
For added protection, a unique secret code is created for each transaction. This code must be shared with the recipient privately.
The sender’s South African ID is also verified during the process. This helps prevent fraud and ensures only authorised persons can send money.
Each Cash Send transaction gets a special Reference Number. Users should keep this number safe in case they need to track or query the transfer later.
What to Do If You Suspect Fraud
If something seems off about a Cash Send transaction, it’s crucial to act quickly. Users should contact Capitec Bank’s fraud helpline straight away.
They’ll need to provide the Reference Number of the suspicious transaction. This helps the bank track down the details quickly.
Capitec advises users to never share their PINs or secret codes with anyone. If a user thinks their PIN has been compromised, they should change it immediately using the Capitec mobile app.
The bank also recommends enabling Feature Lock on the app. This extra step lets users secure specific features, adding another layer of protection.
Managing Fees and Limits
Capitec Bank offers a Cash Send service with specific fees and limits. Customers should be aware of the costs and restrictions when using this feature to send money.
Understanding the Cost of Cash Send
Capitec Bank charges a small fee for Cash Send transactions. The fee varies based on the amount sent. For transactions up to R1000, the fee is around R8.
For larger amounts, the fees increase. Customers can send between R40 and R3000 per transaction. The bank charges R10 for amounts between R40 and R1000 when using the app, online banking, or USSD.
For amounts between R1001 and R3000, the fee is R16 when using the app. It’s important to note that these fees may change, so it’s best to check Capitec’s official website for the most up-to-date information.
Transaction Limits and Regulations
Capitec Bank sets limits on Cash Send transactions to ensure security and compliance with regulations. The minimum amount that can be sent is R40, while the maximum is R3000 per transaction.
There are also daily and monthly limits to consider.
Customers should check their account settings or contact Capitec for specific limits that apply to their account type.
It’s worth noting that Capitec-to-Capitec PayShap payments are free for amounts less than R100. This can be a cost-effective option for smaller transfers between Capitec account holders.
Customers should also be aware of the expiry date for Cash Send transactions. If the recipient doesn’t collect the money within a certain timeframe, the transaction may be cancelled, and the funds returned to the sender’s account.