Capitec Bank is probably the best bank for kids, a lot of parents want to open a bank account for their children. This makes it easier to send money directly into the kid’s account instead of whoever they’re staying with.
Opening an account for your child at Capitec
Capitec makes it easy to open an account for your child, my parents opened an account for me when I was just 12 years old. It also teaches the child some financial responsibility at a young age, which can be a huge advantage later on in life.
You will need to go directly to a Capitec branch, I don’t think it’s possible to open the account online. Go directly to a branch with the following documents on hand and your child.
What you need:
- You need to have a proof of residential address; proof of residence can be your bank statement or water bill or any other bill that’s usually accepted as proof of residence.
- You need to have your ID with you.
- Your kid’s birth certificate if they are under 16 years.
- Your kid with their ID if they’re 16 years or older.
How does it work?
The process is usually fast and it gets done within an hour. Here is something I learned from my experience. Your kid will have to have a phone and they will set the PIN for themselves, please advise them not to use their date of birth.
This is a mistake I made when I chose my PIN and was lucky that no one scammed me. The date of birth is what most kids normally go with and it’s super easy to guess. You will do the signing off on all the papers if your kid is under 16 years and you will have your picture taken; make sure that you look good.
Conclusion
This was a guide on how to open a Capitec Bank account for your child. Do you have any thoughts or questions? Comment below.
Slindile
Many times trying to open bank account for my child I failed bcos her surname different with mine
Mmabatho
How do i make it notify me when i am depositing money.
Naomie
Morning want to open bank account for my grandchild