You can create another savings account directly in the Capitec app by going to your accounts menu and selecting the option to open a new savings account

The Capitec app lets you manage multiple savings accounts from one login. You don't need to visit a branch or call customer service — the whole process happens on your phone. The app will walk you through a few quick steps, ask you to choose an account type, and then your new account is ready to use within minutes.

This is useful if you want to save for different goals separately (one account for emergencies, another for a holiday, for example), or if you want to keep business and personal savings apart. Each account has its own card and its own balance, but they all connect to the same app login.

Key Takeaways

  • Open a new savings account by tapping your profile or accounts menu in the Capitec app, then selecting the option to open another account.
  • You will choose an account type (such as a standard savings account or a goal-based savings account) before the account is created.
  • The new account appears in your app when ready and you can start using it right away, though the physical card may take a few days to arrive.
  • Each account has its own balance and card, but all accounts are managed through the same app login and linked to the same person.

Steps to create a new savings account in the app

Open the Capitec app and log in with your usual PIN or biometric login. Once you are on the home screen, look for your profile icon or an accounts menu — this is usually at the top or bottom of the screen depending on your app version.

Tap on your profile or accounts section. You should see a list of your current accounts. Look for a button or link that says "Open another account" or "Add account" — the exact wording changes with app updates, but it will be near your existing account list. Tap it.

The app will show you the types of savings accounts Capitec offers. Read through the options: a standard savings account earns interest on your balance, while a goal-based account lets you set a target amount and track progress toward it. Choose the one that fits what you want to do with this account.

Answer any questions the app asks about how you plan to use the account. These are usually straightforward yes-or-no questions about your savings habits. Once you finish, the app will confirm your new account number and show your new account in your accounts list. You can start transferring money to it when ready.

What happens after you create the account

Your new account appears in the app straight away and you can use it to receive transfers, set up debit orders, or move money between your own accounts. The account number is active when ready, so if someone wants to send you money to this new account, you can give them the number right away.

A physical debit card for the new account will be posted to your registered address. This usually takes between 5 and 10 working days. Until the card arrives, you can still use the account for transfers and payments through the app, but you cannot use it at an ATM or in a shop. If you need to withdraw cash before the card arrives, you can transfer money to your main account and use that card instead.

Both accounts will show up in your app dashboard, and you can switch between them by tapping the account name at the top of the screen. Interest on your savings account balance is paid monthly, and you can see it listed in your transaction history.

Choosing between account types

Capitec offers different savings account options, and the right choice depends on how you want to save. A standard savings account is straightforward — money goes in, earns interest, and you can withdraw it whenever you need to. There are no restrictions on how much you save or how often you move money in and out.

A goal-based savings account is designed for people saving toward something specific, like a car or a house deposit. You set a target amount and a date, and the app tracks your progress. Some goal accounts have slightly different interest rates or features, so check what Capitec is offering at the time you create the account. The app will show you the details of each type before you choose.

Managing multiple accounts in the app

Once you have more than one account, the app makes it straightforward to move money between them. On your home screen, you will see all your accounts listed. To transfer money from one account to another, tap the account you want to send money from, then look for a "Transfer" or "Send money" button. Select your other Capitec account as the destination, enter the amount, and confirm.

You can also set up separate debit orders or standing instructions for each account. For example, you might have your salary paid into your main account, then set up a standing instruction to move a fixed amount to your savings account every payday. Each account has its own transaction history, so you can see exactly what went in and out of each one.

If you ever want to close one of your savings accounts, you can do that through the app as well — though you will need to move any remaining balance to another account first. Capitec will not let you close an account that still has money in it.

Limits and things to know

There is no set limit on how many savings accounts you can open with Capitec, but in practice most people open between two and five. The app can handle multiple accounts without any slowdown, and switching between them is when ready.

Each account is treated separately for interest purposes. If you have R10,000 in one account and R5,000 in another, each balance earns interest at the same rate, but the interest is calculated on each account individually. You do not get a higher rate by combining balances.

All your accounts are linked to the same person (you), so they all use the same login. If you share your PIN with someone, they can see and access all your accounts. If you want to give someone access to only one account, you would need to set up a separate arrangement with Capitec — the app itself does not have a way to restrict access to individual accounts.

Frequently Asked Questions

How long does it take for a new savings account to be active?

The account is active in the app when ready after you create it. You can receive transfers and set up payments right away. The physical debit card takes 5 to 10 working days to arrive by post.

Can I have different account names or labels for each savings account?

Yes. When you create the account, you can give it a nickname (like "Holiday Fund" or "Emergency Savings") to help you tell them apart in the app. This nickname appears only in your app, not on official documents.

Do I need a different PIN for each account?

No. All your accounts use the same login and PIN. When you log into the app, you can see and manage all your accounts from one login.

What if I create an account by mistake and want to delete it?

You can close an account through the app, but only if it has a zero balance. Move any money out first, then look for the account settings or close account option. Contact Capitec if you cannot find the option in your app version.

Can I transfer money between my Capitec accounts when ready?

Yes. Transfers between your own Capitec accounts happen when ready — there is no waiting period. The money moves as soon as you confirm the transfer.