Transfer money from Capitec to Tymebank

If you’re someone that’s looking to transfer money between Capitec and Tymebank but are confused about the process, you are in the right place. Our guide helps you understand all there is to know about transfers from Capitec to Tymebank.

We’ll also introduce to you Wise for international money transfers to South Africa at the mid-market exchange rate - similar to the exchange rate you see on Google.

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Can I transfer money from Capitec to Tymebank?

Capitec is a major bank in South Africa and is the largest bank if we consider customer numbers⁵. Tymebank on the other hand is South Africa’s first exclusively digital bank and is very popular among locals due to its easy account opening process and low fees. There are several ways through which you transfer money from your Capitec account to a Tyme account. We discuss the steps to doing each of these in the sections below.

How much does the transfer cost?

Transfers from Capitec to Tymebank are not free of cost unfortunately. Capitec charges a minimal transaction fee for these transfers. This is ZAR (South African Rand) for digital transfers, ZAR 5.5 for self-service transfers, ZAR 11 for transfer through a consultant⁸. If you need to send an immediate payment the fee for both digital and self service payments is ZAR 6.5⁸.

Get the mid-market exchange rate when making international money transfers to South Africa with Wise

If you’re living in South Africa, Wise can help you save money¹ when making international money transfers to South Africa.

Although the majority of banks may allow their account holders to make an international transfer, it is possible that a markup is added to the mid-market exchange rate. Find out what you would pay for an international money transfer with Wise:

The mid-market exchange rate is the rate that banks use to transfer money between them and is considered the fairest rate in the market. It is recommended to check the exchange rate offered by your bank against the mid-market rate, which is similar to the exchange rate shown on Google. Say no to hidden fees!

Wise customers don’t have to pay an additional markup fee but only a small transparent fee to make an international transaction¹. That’s because Wise uses the mid-market rate for overseas payments!

How to send money from Capitec to Tymebank?

Using the Capitec Mobile App

• Grab your phone and open the Capitec app
• Once in, navigate to the ‘Send Money’ or ‘Payments’ option this is where you will initiate the transfer.
• Upon getting to the payments page enter the details of the Tyme account recipient correctly. Be sure to double check the details to help avoid delays or issues with the transfer due to errors in data input.
• The next step is to enter the amount you want to transfer. You can also add in a reason for transfer for future reference.
• Be sure to include all the details before finalising the payment. Once you’re sure everything is in place enter your PIN or authorise the transfer with any other security measures you have set up.
• Post authorisation the app will give you a confirmation message or even send you a receipt confirming the transfer.

How to transfer money from Capitec to Tymebank without using the app?

You can also send money from Capitec to Tymebank without using the GlobalOne app.

Transfer Money from Capitec to TymeBank by Walking in to a Capitec Branch

If you don’t have the app and would rather get the transfer done in person you can also visit a Capitec branch.

• Go to your nearest Capitec branch.
• Request a transfer form and fill in the details of the recipient. Also include the amount you need to transfer.
• Once you’ve completed the form and checked the details, hand the form to a teller and they will get the transaction done for you.
• They will also hand you a receipt that confirms the transfer.

Send cash using USSD

You can also send cash to any recipient using your Capitec account⁶. It is important to note that you will need to be registered for mobile banking to do this. The steps to do so are as follows:

• Dial *120*3279# and reply 9
• Accept the terms and conditions
• Reply 1
• Choose "From" account
• Enter the amount you want to send
• Create a 4-digit secret code (this will be used to collect the cash)
• Enter your Mobile Banking PIN

You will be sent a reference number on your registered mobile number, you can send this to the recipient who will need to show this to receive the cash.

The recipient can collect the cash by doing the following:

• Ask them to visit any Capitec ATM, Shoprite, Checkers, Usave, Game, Makro, Pick n Pay or Builders store near them.
• Once at the store inform the teller that they have a transfer from a Capitec client
• They will be asked to provide the reference number
• They will be asked your name, surname and cellphone number, along with the secret code
• Once all the details are authenticated, the cash is paid out immediately.

How long does it take to transfer money from Capitec to Tymebank?

One of the necessary things to know when carrying out a transaction between banks is how long it’ll take for the funds transferred to reflect.

So, transfers between different banks on weekends can take up to 24 hours, however, during regular business hours most transactions are completed almost immediately⁷.

You can also try Wise as an alternative for receiving money at the mid-market rate for international transfers to South Africa.

Whether you're a Capitec customer sending funds locally to Tymebank or looking at international options, staying informed about transfer fees, times, and secure methods ensures a smooth transaction experience.

Join Wise!

Sources:

1. Please see Terms of Use for your region or visit Wise Fees & Pricing for the most up to date pricing and fee information.
2. Transaction speed claimed depends on funds availability, approval by Wise’s proprietary verification system and systems availability of our partners’ banking system, and may not be available for all transactions.
3. Eligibility is subject to verification of customers identity. Wise may request additional documents to verify a customer's identity.
4. Please note that certain products or features may not be available in all regions. Please visit www.wise.com to check for availability and learn more about our offerings.
5. Capitec customers
6. Methods of transfer
7. Transfer times
8. Immediate Payments
9. Fees