Capitec Bank is a well-known financial institution in South Africa, providing various banking services to its customers. One of the popular services offered by the bank is Capitec Cash Send, allowing you to send money to anyone in South Africa via your cellphone. Let's take a closer look at how this service works.
The process of using Capitec Cash Send
The steps to follow when sending money through Capitec Cash Send are pretty simple, and they are as follows:
Step 1: Dial the USSD code
Before anything else, you need to dial the Capitec Cash Send USSD code, which is *120*3279# on your mobile phone.
Step 2: Select the Cash Send option
Once you have dialed the USSD code, select the "Cash Send" option from the menu that pops up.
Step 3: Enter the recipient's details
You will then be prompted to enter the recipient's cellphone number and the amount you wish to send. Double-check to ensure that you have entered the correct details before proceeding.
Step 4: Enter your details
Next, you will be required to enter your 13-digit South African ID number and the 4-digit secret code that you use to access your Capitec account. This ensures that you are the rightful owner of the bank account from which you are sending the money.
Step 5: Confirm the payment
Finally, you will be asked to confirm the payment by entering your secret code once again. Once you have done that, the funds will be instantly transferred to the recipient's cellphone, and they can withdraw the money from any Capitec ATM.
The benefits of using Capitec Cash Send
The Capitec Cash Send service comes with numerous benefits, which include:
- Instant transfers: With Capitec Cash Send, the money is transferred instantly to the recipient's cellphone, eliminating the need to wait for long periods.
- Convenience: You can send money from anywhere in the country, 24/7, as long as you have your mobile phone with you.
- Safety: The service is secure, as you need to enter your secret code to access your account and confirm the payment.
- No need for bank account details: You don't need to know the recipient's bank account details to send them money, making the process hassle-free.
The costs involved in using Capitec Cash Send
Sending money through Capitec Cash Send comes at a cost, although it is relatively affordable. The fees charged depend on the amount of money you are sending, and they are as follows:
| Amount | Fee |
|---|---|
| R10 - R100 | R1 |
| R101 - R300 | R5 |
| R301 - R1000 | R10 |
| R1001 - R3000 | R20 |
It's worth noting that the fees are subject to change, and you should always check with the bank before sending any money.
Conclusion
Capitec Cash Send is a convenient and secure way to send money to anyone in South Africa. The service offers instant transfers, and the fees charged are relatively affordable, making it an excellent option for anyone looking for an alternative to traditional banking methods.
