CW
Colin W

1 reviews | Active since May 2018

11 May 2018, 21:05

Account Suspension Without Customer Notification

I have just learned that my Capitec Savings account, which I opened 6 years ago, has been suspended due to account inactivity within the past year! Needless to say, I am furious as I needed to do an urgent online transaction this evening. My frustration is due to the following: -

- This is a savings account, and not a current account - one would presume therefore that it is in the banks best interests to have longer term investments; - I use this particular account mainly for my tenant’s rental deposit, which I am obliged by law to retain in a separate interest-bearing account; - If my tenant chooses not to vacate the rental property within a year, then there is no need for any activity on this account! - This suspension then, will clearly become an annual event, it would seem; - At the time of opening this account, there was no instruction given regarding a minimum number of banking transactions within a specified period; - There was no attempt at communicating with the customer to determine the reason for the apparent dormancy of this account; - I was advised by their customer service assistant that the problem can only be rectified at branch level (is this really customer service?) - This is a major inconvenience and time waster for an issue which could have easily been proactively averted via a simple SMS or an e-mail. After all, Capitec pride themselves on the use of technology to drive their business!

I feel that if Capitec wants to maintain a competitive edge, they should try talking to their customers. They might be surprised at the positive reaction they would get!

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Replies (1)
Capitec Bank
Capitec Bank's reply15 May 2018, 09:38
Official

I acknowledge your posting, and have referred it to Donorique Wessels for immediate attention.

Feedback will be provided within 3 working days, and I trust that this situation will be resolved to your satisfaction.

Complaint Management
Capitec Bank