Capitec has a new way to protect your money if your phone is stolen
STELLENBOSCH — Capitec customers worried about criminals gaining access to their phones can now completely hide selected accounts from the banking app, with the bank revealing that 75 000 accounts have already been placed behind the new security feature.
Called Secret Safe, the feature removes the selected account from view and prevents it from being accessed remotely. Once hidden, the account can only be unlocked by visiting a Capitec branch, meaning someone who gains control of the customer’s phone or banking app cannot simply access the money stored there.
The feature has attracted significant interest since being introduced, reaching 75 000 protected accounts in its first month.
It forms part of eight security measures Capitec is rolling out as South African banks confront increasingly sophisticated scams, malware, social engineering and networks of mule accounts used to move stolen money.
Capitec says its intelligent payment screening system prevented 113 410 customers from potentially losing more than R699 million between July 2025 and June 2026. The bank also identified and blocked more than 131 000 suspicious beneficiary accounts during the past year, including 64 000 mule accounts, while customers received warnings on more than 394 000 suspected scam payments.
Before an electronic payment is completed, Capitec now scores the beneficiary in real time. Reports previously made against that beneficiary contribute to a risk rating displayed to the customer before they decide whether to continue with the payment.
Another feature scans customers’ phones for malware capable of intercepting banking credentials. Where suspicious software is detected, the app identifies the potentially dangerous application and provides instructions for removing it. Capitec previously said its malware controls had prevented approximately R31 million in losses.
The bank is also preparing a Trusted Approver feature that will allow customers to nominate another person to approve payments. The nominated person will have 12 hours to accept or reject a transaction and will be able to pause the customer’s banking app and freeze cards where fraud is suspected.
An AI powered Scam Scanner is expected to arrive in the Capitec app in the coming weeks, allowing customers to check suspicious SMS messages and links. Other artificial intelligence systems are being deployed to identify criminal networks, detect unusual transactions and speed up anti money laundering investigations.
The changes reflect how banking fraud is increasingly moving beyond criminals simply stealing passwords. Capitec says social engineering, where victims are persuaded to authorise payments themselves, has become one of the significant threats facing customers.
For the bank’s 26 million customers, the most unusual response may also be the simplest: money that does not need to be immediately accessible can now be removed from the digital banking environment altogether, trading convenience for an additional barrier between savings and anyone who gains control of a customer’s phone.
Anyone with additional information can contact the press desk at press@townpress.co.za.