FM
Fidellis M

1 reviews | Active since Feb 2022

27 Feb 2022, 10:25

Account stopped apparently due to suspicious activity

On the 23rd of February I transferred some funds from my standard bank account to my Capitec account. I am currently out of town so I had left the card with my son so he could use it to pay suppliers for my business as well as for buying groceries. I had made it an immediate transfer as I needed him to make some payments on that day but he could not because the Capitec card kept being rejected for any transaction even withdrawals at ATM machines. I also noticed that the app was not working properly...I went as far as deleting it and reinstalling hoping that it could have been a bug but alas... On the 25 I visited a Capitec branch to find out what was going on ... this is when I was told by the consultant that my account had been stopped because of a suspicious transaction. This was a transfer from my standard bank account to the Capitec account and they are both in my name. I understand that Capitec Bank needs to protect its reputation by flagging transactions that are deemed ********** or money laundering...but then why not inform me immediately of such a serious issue? Who is being suspicious here? I had to go to the bank to be informed of the issue.... what if I couldn't get to the bank? How would I have known about this? It's such a big inconvenience because I have lost business and opportunities because the funds are being held by Capitec. They could have just asked me at least and I would have provided all the proof for the source of funds. Who's going to pay for all the losses I incurred? Why are customers some of whom like myself who have been with this bank for over five years being treated this way? I'm very disappointed especially during these difficult times... Capitec should know better...all you have to do is inform the client the very minute you notice something suspicious.... Capitec Bank really needs to do better... this is so unprofessional and uncaring for a Bank that claims to be for the people...

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Replies (1)
Capitec Bank
Capitec Bank's reply27 Feb 2022, 11:26
Official
 Good day Fidellis

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