“All Capitec customers are broke”, Capitec CEO Gerrie Fourie

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Capitec CEO Gerrie Fourie said almost all of their clients are broke. Fourie said the banks have millions of costumers compared to other banks which sounds fantastic but some of those customers barely use their accounts.

“The average account balance is only R150 and these morons will go to the ATM trying to withdraw R10. Most of the said they left their previous banks because of high fees but the cash flow on 70% of the accounts at Capitec is less than R5000 per year.

“We never actually attract rich customers that is why we lock our ATMs after 6 PM. Our clients use public transport so we don’t worry about them driving to the ATM at night.

“Most of the account was opened by people in their 20’s now most of them are over 30 but it looks like they are unemployed. No steady income no debit orders nothing.

Fourie said Capitec can close a few million accounts and that would not even put a dent on the bank’s revenue. “Only a few white people pay our bills and keep the bank going the rest is just a waste.