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Johannesburg - Capitec Bank (CPI) says its bank fees will not be increased in 2011.
It said at the weekend that its decision not to raise prices - traditionally implemented by all banks on 1 March - was simple: it wanted to empower South Africans to be more in control of their money.
Riaan Stassen, Capitec Bank's CEO said: "The recent price hikes in electricity, food, petrol and school fees, among other personal expenses, means South Africans already have enough financial pressure to contend with in 2011. So it is with this in mind that we have not increased our fees. By so doing, we intend on maintaining our position as the most competitively priced bank in South Africa while providing clients essential banking services at the most affordable price."
It said at the weekend that its decision not to raise prices - traditionally implemented by all banks on 1 March - was simple: it wanted to empower South Africans to be more in control of their money.
Riaan Stassen, Capitec Bank's CEO said: "The recent price hikes in electricity, food, petrol and school fees, among other personal expenses, means South Africans already have enough financial pressure to contend with in 2011. So it is with this in mind that we have not increased our fees. By so doing, we intend on maintaining our position as the most competitively priced bank in South Africa while providing clients essential banking services at the most affordable price."
