1 reviews | Active since Nov 2010
Frozen Funds
On 6 and 9 October 2025, I did business with an ABSA client. I bank with Capitec. On both days I received an ABSA Proof of Payment, confirmed the funds was received and released the goods. ON 20 Oct, ABSA sent a notification to Capitec to freeze the funds, as they suspected their client of *****, which Capitec did. I sent the all the documents pertaining to these transactions to Capitec, in turn they sent it to ABSA. Today is the 7th of November, and ABSA has not resolved anything so I have absolutely no recourse in this matter. Funds are locked up and stock is lost. I cannot approach law enforcement or start legal action, as ABSA has not verified whether their client did indeed commit *****. An interesting fact here, is that their client is still doing business as usual, using the same ABSA account. In the end, me, as well as people I paid out of that funds, as their funds are also locked, are the losers here, their funds being locked also does not put me in a good light at all. ABSA seems unable or unwilling to resolve this. Capitec has been as helpful as they can possibly be, but can do only so much. This is truly a horrifying situation, innocent persons are being impacted due to ABSA's **** poor handling of this matter.
