- Home
- Knowledge Base
- Frequently Asked Questions
Frequently Asked Questions
Explore our FAQ for quick answers to common questions, where you’ll find concise answers to help resolve any uncertainties quickly.
How much does your service cost?
At Shiftly, we believe in transparent and competitive fees. That’s why we only charge 0.20% for converting your Rands to...
Why do I need at least R200,000 to participate?
Our minimum trade size is R200,000 due to fixed costs involved, making smaller amounts less profitable. Each bank transfer abroad...
Is Shiftly licensed to provide these services?
Yes, we’re a licensed Category I Financial Services Provider (FSP 51806) and we’ve applied for a Category II licence which...
Do I earn interest on my Capitec account?
Yes, the bank currently pays a nominal interest rate of 6.25% per annum.
Can I get access to Capitec online banking?
No, however you’re able to see your account balance, request withdrawals, and download transaction histories from our client portal.
Can I act on someone’s behalf?
You are not allowed to use someone else’s allowances for your own benefit. However, with their consent, we can authorise...
Do I have to pay tax on my arbitrage profits?
Yes, arbitrage profits are taxed as income and not capital gain. You are responsible to ensure you remain tax compliant,...
Do you provide tax certificates?
You’ll receive an IT3(b) from Capitec showing the interest you’ve earnt on the account. We do not provide IT3(c) tax...
