Fast little loans
It’s often small changes that have the biggest impact. The same could be said of the small change in your pocket. Instead of spending your coins, or putting them in a piggy bank, imagine if you could deposit them in an ATM and straight into your savings or loan account.
Clients of Capitec Bank in Stellenbosch can now do precisely that.
This week Capitec Bank launched an ATM “cash recycler” at its new concept branch in Eikestad Mall in Stellenbosch.
“To us, every cent counts, so the most exciting feature of the cash recycler is that clients can use their small change to either add to their savings accounts or pay off loans,” Riaan Stassen, chief executive officer of Capitec, says.
In addition to accepting coins, the ATM also dispenses coins when a client closes an account and withdraws the remaining funds – provided the balance is less than R100.
The cash recycler also accepts cash and cheques, and can perform third-party deposits, meaning anybody can deposit money into a Capitec Bank client’s account, not just its own clients.
Capitec has plans to pilot eight cash recyclers.