APPALLING SERVICE ON A ***** MATTER

The last few days I have had the worst experience with Capitec Bank after many years of being a client of theirs.

On Thurs 26 Sept 2019 I woke up to SMS notifications of 10 transactions on my account , 8 purchases and 2 being corrections ( reversal/corrections) The remaining purchases (6) that went off on my account amounted to R4537.62 I went to Cape Gate branch first thing that morning, the consultant called into client care centre and reported these unauthorized transactions. At the time these 6 purchases were still unprocessed, funds were just reserved. The consultant was advised to stop and replace my card . With this action I was told that because the funds were not processed yet, the funds will be returned within 48 hours into my account . I transferred funds out of the account as I was still uneasy to use it. Remaining in the account was an amount of R146.62 .

On Saturday 28 Sept 2019 I woke to another SMS notification of another unauthorized purchase, referencing my old, stopped card number which I had stopped on 26 Sept 2019. The amount was of R608.27 . Unfortunately the funds available on the account was R146.62 which it deducted from. Balance on the account 0.00, however the transaction is in a processed state suggesting that this transaction has gone off somehow from the reserved funds. I called into the client care centre and I queried how this amount can go off using a card that is no longer active and should not be linked to my account, highlighting a flaw in the banking system and the response I got from the agent was not satisfactory all he could tell me is that he does not know, it will go under investigation. I asked the question what will happen if funds go into my account, will the remaining amount that was not available at the time of the last unauthorized transaction then be deducted - He told he me he does not know but because my account is not in a negative balance, it should not be deducted. A customer service agent who is your first line of support as a customer, tells you he does not know how the system will work and cannot advise a client on what to do. APPALLING AND EXTREMELY FRUSTRATING!!!

Monday 30 September I went back to Cape Gate branch to apply pressure about this situation as I now cannot make use of the account if my old card is still seemingly active and ********** transactions can still go off on it. The consultant now also realised the 2/6 transactions had now been processed, on 27 & 28 September, after I had reported them as **********. All they told me is that all my complaints have been logged are under investigation.

These unauthorized transactions also did not require authorization from the app as some online purchases do.

It has been more than 11 working days and yet no feedback from Capitec bank. On 11 Oct 2019 one of the unprocessed amounts was reversed into my account, however I have had no communication or explanation with regards to the other outstanding funds or how far the bank is with the investigation.

I am extremely disappointed with this situation and how it has been handled or better yet not handled. Because of this I am considering closing this account, move my funds to a bank which regards security, customer service and communication as a high priority