What is the Swift code of capitec bank?

Answer 1

Thank you for your enquiry.

Persons outside South Africa who wish to make a transfer to a Capitec Bank account should note the following:

• Approach a commercial bank in the country from where you wish to make the transfer to South Africa.

• Before making the transfer, ask the foreign bank to confirm the ZAR exchange rate and convert the foreign currency to ZAR.

• Payments must be processed via the foreign bank's local correspondent bank - usually Absa, FNB, Standard Bank or Nedbank - through which they make ZAR payments to accounts in South Africa.

• The foreign bank must then transfer the ZAR amount, through its normal payment channels to their South African correspondent bank.

The transfer message must indicate the following to route the payment to the

beneficiary:

o The reason for the transfer (i.e. pension, allowance, etc.)

o The Capitec Bank savings account number

o The SWIFT code: CABLZAJJ.

• Since the transaction can be processed immediately upon receipt of the payment notification, the time before the funds are made available in the Capitec Bank account is reduced when sending ZAR from outside South Africa.

• Transfers received in foreign currency cannot be processed by Capitec Bank and will be returned to the bank of the payer.

Should you have any further queries in this regard, you are more than welcome to contact us.

Thank you

Kind Regards