International Transfer with Capitec: Fees, Process, Time

With over 3 million¹ immigrants living in South Africa, including expats from the Western world, demand for sending money to and from the "Rainbow Nation" is high.

However, legislation in South Africa makes it one of the more complex countries for foreign exchange. This was compounded by regulatory changes requiring enhanced due diligence processes. Capitec Bank is a popular choice for exchange due to its financial services. The bank enables transfers from South Africa to other nations and has partnered with Mama Money to ease transfers to over 29 countries across Africa and globally. This article breaks down the process, fees, rates, processing times for international transfers with Capitec.

This article also introduces Wise for international money transfers to ZAR at the mid-market exchange rate.

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Can Capitec do international money transfers?

Yes, Capitec supports international money transfers from South Africa to other countries in major currencies like the US dollar, euro, and British pound. The bank continues to expand its list of supported currencies.

Capitec international transfer fees

Capitec Bank allows users to send and receive money internationally in approximately 50 countries from South Africa using the Transact feature on their mobile app. For sending money abroad, customers can also contact Capitec Forex to set up an FX Trade Account. Capitec typically processes account setup requests within 48 hours².

While fees vary based on the specific transfer circumstances, Capitec applies fixed transaction fees for both sending and receiving payments:

Receiving International Transfers with SWIFT

Capitec supports incoming international transfers via SWIFT. While the sender pays foreign bank fees on their end, receiving international transfers at Capitec also incurs local processing fees.

Total fees for SWIFT payments cannot always be quoted prior to transfer completion due to intermediary correspondent banks involved in processing the transaction².

The intermediary banks processing your money transfer may charge additional correspondent fees⁷, which may reduce the final amount received relative to the initial transfer value.

Making Outward International Transfers with SWIFT

To send an international SWIFT transfer from South Africa through Capitec, email CapitecFX@capitecbank.co.za to request an FX Trade Account setup. A representative will call within 48 hours to complete account setup. There is no fully automated online application available for initial FX Trade Account creation.

For inquiries, contact Capitec Forex at +27 87 830 6361 (Monday–Friday, 8am–5pm SAST).

Capitec international transfer exchange rate

In addition to transaction fees, Capitec applies an exchange rate markup when converting currencies.

Capitec recommends that incoming transfers be sent in a foreign currency², which Capitec automatically converts to ZAR upon receipt after the beneficiary submits a Balance of Payment (BoP) declaration.

Exchange rates fluctuate dynamically. When initiating a payment, Capitec displays an indicative rate, with the final rate locked in upon payment confirmation.

Use Wise for international transfers to South Africa at the mid-market exchange rate

Wise provides an alternative for international transfers to South Africa using the mid-market exchange rate. Transfer fees are displayed upfront without hidden markups on the exchange rate.

Learn more about Wise’s exchange rates on the rate tracker.

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Capitec international transfer process

Capitec facilitates international transfers via its mobile app and banking infrastructure.

Sending international payments via app⁵:

1. Sign in to the Capitec app and tap Transact.
2. Select International payments.
3. Tap Make a payment and follow the on-screen instructions.

Note: The mobile app supports major currencies including USD, GBP, and EUR. If a target currency or destination bank is unlisted, contact the Capitec Forex team directly at 021-8094501.

Receiving international payments via app⁶:

1. Sign in to the Capitec app and tap Transact.
2. Select International payments.
3. Tap Receive a payment and follow the prompts.

Receiving International Transfers via SWIFT

To receive a SWIFT payment, provide the sender with your Capitec account details. The sender initiates the transfer via their foreign bank or remittance provider.

Capitec international transfer via Mama Money

Capitec partners with Mama Money to enable cross-border transfers to 26+ countries, including bank-to-bank transfers to 13 nations⁸.

Supported destination countries:

• Angola
• Bangladesh
• Belgium
• Botswana
• Canada
• Eswatini
• Ethiopia
• France
• Germany
• Ireland
• Italy
• Kenya
• Lesotho
• Malawi
• Mozambique
• Netherlands
• Pakistan
• Poland
• Portugal
• Rwanda
• Spain
• Switzerland
• Tanzania
• Thailand
• Uganda
• United Arab Emirates
• United Kingdom
• Zambia
• Zimbabwe

To send funds via Mama Money, log in to the Capitec app and navigate to Cross Border Money Transfers. Transfers can be deposited directly into bank accounts, digital mobile wallets, or made available for cash pickup at Mama Money partner locations. Cash collection recipients receive an SMS containing a pickup token and must present valid government identification (e.g., passport or national ID) at collection.

Transfer Limits and Fees (Mama Money):

• Daily Limit: Up to R10,000 per transaction per day.
• Monthly Limit: R25,000 per calendar month⁸.
• Service Fee: 5% standard service fee applied based on transfer destination⁸:
  • Cash/Wallet transfers to Zimbabwe and Malawi: R10 minimum fee.
  • All other wallet/cash supported countries: R29 minimum fee.
  • Direct Bank Transfers: Bangladesh (R59 min), Pakistan (R29 min), other supported countries (R60 fixed fee)⁸.

Capitec international transfer requirements

To receive an international transfer into a Capitec account, provide the sender with²:

• Capitec SWIFT Code: CABLZAJJ
• Account Number: 10-digit Capitec account number
• Account Holder Name: Full legal name matching ID/Passport
• Address: Residential address
• Payment Reference: Balance of Payment (BoP) reason code (e.g., gift, tuition, allowance)

Note: For incoming transfers exceeding R50,000, beneficiaries must complete a verbal declaration over the phone with Capitec Bank².

To send money internationally through Capitec, you need:

• Sufficient cleared funds in your main savings account to cover transfer principal and fees.
• Target country name and destination currency.
• Beneficiary details: Full legal name, address, contact phone number.
• Beneficiary banking details: Account number, IBAN (for European transfers), and receiving bank SWIFT/BIC code.

Capitec international transfer limits

Under South African Reserve Bank (SARB) regulations, South African residents have a Single Discretionary Allowance (SDA) of R1 million per calendar year (January 1 – December 31)⁴. This limit covers outward international transfers and offshore card transactions. The minimum single transaction amount is R350⁴.

For incoming transfers exceeding R50,000, Capitec requires formal reporting and declaration prior to crediting funds².

How long does an international transfer take with Capitec?

Outward international payments sent via Capitec typically settle into the beneficiary account within approximately 4 business days⁴, depending on destination time zones, foreign bank clearing cycles, and compliance verification.

While Capitec Bank provides international transfer services to and from South Africa, transaction fees and foreign exchange margins should be factored into total cost calculations.

Wise offers mid-market exchange rates and transparent upfront pricing for international ZAR transfers.

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Sources:

1. Expats in SA Guide
2. Capitec Foreign Exchange Services
3. Capitec Inward Payment Fee Schedule
4. Capitec Outward Payment FAQ
5. Capitec Outward Transfer Process
6. Capitec Inward Transfer Process
7. Capitec Correspondent Bank Fees
8. Capitec Cross Border Money Transfer (Mama Money)

All sources checked on September 25, 2026.