1 reviews | Active since Apr 2023
A disaster when it comes to integration with Accounting platforms
As an underdog in the Retail spaces (opening a chain of hardware stores) I thought choosing another underdog of a business bank was a good revolutionary idea. It was my mistake. A terrible mistake. For many reasons but let me focus on one for now: Integration to Accounting Softwares like Xero, Sage One, QuickBooks, you name them.
When our Accountant raised his concerns about Mercantile Bank in 2021 and the fact that our Bank was not integrating with Xero Accounting, I told him to integrate with another platform. So they chose QuickBooks. Nightmare. Later, we chose to not change a Bank, but to change to another Accounting Software, Sage One.
The problem is not the Accounting platforms, the problem is the bank itself. It's a Nightmare. I actually doubt that Mercantile Bank uses their own bank for business banking needs, because they'd know what their platform does when linked to any Accounting platform.
Lastly, the fees are too much. We do a lot of cash transactions then go to deposit at an ATM. Yhoooo the fees. We asked them for a 'package' with a blanket fees instead of pay-as-you-use just like all other banks. They don't have such a package. Messy.
Anyway, we are still Banking with Mercantile Bank with hopes that as they move to Capitec Business, they will improve into a proper Business Bank.
Now the App is blank. I can't pay staff salaries.
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards Capitec Bank
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards Capitec Bank
