Appalling Experience with Capitec Business Banking

I recently opened a business account with Capitec Bank, and what should have been a simple process has turned into a nightmare. Immediately after my salary was paid into the account, Capitec placed my account on stopped status. Despite supplying every document they requested to verify the origin of the funds, I have been met with the same excuse for over a week: “We are waiting for feedback from the bank that sent the money.”

This lack of urgency and accountability is unacceptable. As a business owner, having my funds frozen without clear timelines or proactive communication severely impacts my operations. Capitec’s customer service has been unhelpful, repeating the same scripted response without offering solutions or escalation.

I expected a professional banking partner, but instead I’ve experienced delays, poor communication, and a complete disregard for the impact on my livelihood. This is not the level of service one should expect from a major bank.