Travel better with your Capitec credit card | Capitec Bank (2024)

FAQs

Can you use your capitec credit card overseas? ›

You can pay with your Capitec credit card wherever you see the Mastercard® sign. There are no purchase or currency conversion fees on international transactions or cash withdrawals. So no nasty surprises when you return from your trip.

Let us know when you're travelling

So it's important to contact our 24hr Client Care Centre on 0860 10 20 43 (+27 21 941 1377 if you're not in South Africa) to let us know the dates and where you'll be travelling to (remember to also mention any layovers).

Click here to apply. Stacey Barnett, former sales and marketing manager at Dreams, a travel company, notes, “Debit, credit and travel money cards can generally be used in most destinations around the world, as most South African banks are linked to Visa or MasterCard, which allow for global transactions”.

Advantages of an overseas card

The main advantage of using a debit or credit card overseas is that you won't pay foreign transaction fees every time you spend. While many also won't charge fees for cash withdrawals, you will still usually be charged interest from the date of the transaction if you use a credit card.

Your credit card provider will use a conversion rate offered by Visa, Mastercard or American Express. This will usually be better than the rate you would get from the retailer or ATM. Expect a small currency conversion fee and, if you're withdrawing cash, a cash transaction fee.

We offer specialised exchange control services through our business bank, such as receiving proceeds for exports. Please e-mail Capitec Forex on FXQueries.capitec@mercantile.co.za to setup a trading account for you to make international payments. A consultant will contact you within 48 hours.

To set a travel alert for your credit card over the phone, call the number on the back of your card to get in touch with your bank. The customer service line will either let you speak to a representative on the phone or work with an automated system.

Yes! It's hugely important for customers to inform their bank of their travel plans in advance. This helps to protect against fraudulent activity and ensures that you have access to your funds while you are away. Be aware of any limits on the amount of money that can be withdrawn or spent while you are abroad.

Book your international flights with our credit card and get free basic travel insurance. You will be covered for medical emergencies and related expenses for up to R5 million. A full benefit schedule, specifying the cover, will be supplied to you by travel insurance consultants.

Is it better to use cash or credit card in foreign country? ›

Credit cards typically provide better exchange rates than what you'll get from ATM machines and currency stands. Depending on your card issuer, your purchases might automatically qualify for insurance. This coverage doesn't simply apply to consumer goods — it also covers travel delays and lost luggage.

Credit cards are widely accepted around the world and can also serve as a deposit, e.g., when renting a car. Credit card transaction fees are typically higher than debit cards. Most banks charge an average conversion fee of 2% for a credit card payment, that's 1% more than for a debit card payment.

Hidden transaction fees

These fees are typically a percentage fee of the amount you spend during each foreign transaction and can add up quickly. Look out for fees for cash withdrawals on credit cards abroad too, as you can also be charged a percentage of the amount you withdraw from an ATM.

Using foreign exchange services before you fly

Exchanging cash in advance before your trip is often one of the best ways to spend money abroad. It will avoid you having to pay poor exchange rates at certain airports, especially if you don't know what their rates will be before you leave for your trip.

The general consensus is that you should have $50 to $100 in cash per day for each traveler. However, this amount could vary considerably depending on where you are vacationing. Some destinations are more cash-friendly than others.

Types of Transactions Subject to Foreign Transaction Fees

A good rule of thumb is to have the card charged in the local currency to avoid conversion fees and to choose a card that doesn't charge foreign transaction fees for all purchases made abroad. Cash withdrawals from international ATMs are also subject to fees.

Capitec Bank is a South African retail bank.

Based out of Stellenbosch, Capitec Bank is one of South Africa's most prominent banks, with a solid reputation around its digital presence and tech-savvy online banking options.

International payments can take 3 to 7 working days to reach Capitec. Should you need to complete an IBAN number, you must use 470010 and your Capitec account number. Hi, we only offer personal banking at Capitec. For more info, check this out: capitecbank.co.za/money-manageme… or visit your nearest Capitec branch.

Do I need to tell visa I'm traveling? ›

You don't need to let your credit card company know you're traveling, but it's always a good idea. To protect you from fraud, credit card issuers look for charges that seem to be out of the ordinary, or “suspicious activity”.

If you already use online banking, there's likely an online travel notice where you can enter your destination and the length of your trip. If you've got multiple countries on your itinerary, you can specify that as well. If you don't have online banking, call your bank to set up a travel alert on your account.

Yes, your debit card and credit card are accepted internationally! If your ATM card is linked to a checking account, it can also be used at ATMs internationally.

A passport is required for overseas travel. It is recommended to make a copy of your passport and put it in a separate place. Carry your passport - do not pack it in your checked luggage. You must present it to the Customs and Border Protection officer upon arrival in the United States.

Passport, Travel Visa and National ID Card

Proper identification is the foundation of international travel. As a result, you should ensure to always have an official identification document with you. You can even consider having multiple documents such as your passport, national ID card or driver's licence.

Can I withdraw cash from the ATM using my Visa Debit Card in Nigeria? Yes, you can use your Visa debit card for cash withdrawal on any bank's ATM in Nigeria (free of charge).

The improved Capitec Masterpass™ app, powered by Mastercard®, stores all your payment and billing information in one central, secure location. Capitec Masterpass is a digital wallet that simplifies the payment process by storing all your payment information in one location.

Where can I use my Capitec card? ›

Your Global One card, a debit MasterCard®, is just like a credit card, but without any of the credit or additional fees. This means that you can use your card to shop online.

An ATM foreign transaction fee is a fee you pay for using an ATM abroad. Banks have varying policies on fees you will pay for using an ATM that isn't their own. If you're using another bank's ATM abroad, you may pay around 1%-3% foreign transaction fee for using an ATM to withdraw money, which can swiftly add up.

You may bring into or take out of the country, including by mail, as much money as you wish. However, if it is more than $10,000, you will need to report it to CBP.

You can fly with any amount of cash. No law prohibits you from bringing any amount of money on a flight. Likewise, TSA has no rules that limit how much money you can bring through security. In other words, TSA has no cash limit per person.

You may bring large sums of money with you in the form of cash, money order, or traveler's checks. There is no maximum limit, however, any amount exceeding $10,000 USD must be declared upon arrival on both the Form 6059B and FinCEN 105. All forms must be filled in completely and truthfully.

Is Capitec MasterCard International? ›

Your Capitec credit card is powered by Mastercard® and therefore accepted at nearly 30 million locations internationally. Don't worry about bank fees, because paying with your card is free.

Banking does not get much easier than this! You can make an instant impression with your African Bank Credit Card! Use your African Bank Credit Card wherever you are.

As long as your ATM or credit card has either a Visa or PLUS logo, you can withdraw cash at ATMs that are part of the Visa or PLUS network. How do I find an ATM in the country that I'm traveling to? Visa is accepted at over 200 countries and territories around the world.

Yes! It's hugely important for customers to inform their bank of their travel plans in advance. This helps to protect against fraudulent activity and ensures that you have access to your funds while you are away. Be aware of any limits on the amount of money that can be withdrawn or spent while you are abroad.

Generally, you should tell your bank the locations you are traveling to and the dates/duration of your travels. This will allow you to continue using your credit cards and debit cards without the fraud detection on your accounts being triggered, preventing you from using your cards.

Not all major credit cards are accepted everywhere. Merchants in some destinations prefer to be paid in cash because they must pay a fee to the credit card company. There may be a risk that your credit card will be cloned at some destinations, particularly in restaurants.

You're not required to notify your credit card company when you're going away on vacation, but it is highly recommended. By letting your credit card company know where you're going and for how long, your company will know that any card transactions from that location were likely authorized by you.

Using a credit card in the USA

Visa, Mastercard and American Express cards are widely accepted in the US, so you might face difficulties paying if you do not have one of these.

Is it better to use a debit or credit card abroad? ›

Credit cards are widely accepted around the world and can also serve as a deposit, e.g., when renting a car. Credit card transaction fees are typically higher than debit cards. Most banks charge an average conversion fee of 2% for a credit card payment, that's 1% more than for a debit card payment.

Avoid exchanging money at airports and hotels - they usually have the worst rates. If you want to withdraw cash from an ATM when you're abroad, always do it in the local currency. This guarantees the mid-market rate. However, your bank may charge ATM fees and foreign transaction fees (more on this later).