More and more people are joining Forex trading in South Africa, among these are Capitec Bank users. Some people face challenges when they try to withdraw money from their Forex accounts using Capitec. So, does Capitec Bank allow Forex trading.
No, Capitec Bank does not allow Forex trading, it is currently not possible to process Forex payments directly from your Global One account. The best way to get the money into your Capitec account is by using payment gateways like Skrill or Payoneer.
Alternatively, you can just open an account with FNB and start receiving your Forex payments. FNB has been recognised as the best Foreign exchange provider in South Africa.
International transfers
How does Capitec work when it comes to making international transactions in general? Well, it’s not bad when it comes to making payments or sending money abroad, the problem is in receiving the money.
It’s easy to use payment gateways like PayPal to make payments when doing online shopping, it’s harder to use the money to withdraw funds. You need to search for payment gateways that are popular. If you are in a business that requires you to receive international funds then it’s best to open a business account with a bank that allows you to withdraw the money directly from your account.
I highly recommend using Skrill as a payment gateway for withdrawing money from Forex if you are using Capitec. Do you have any thoughts or questions? Comment below.
