Back-charge for overdraft facility fees due to Capitec System error.

Hi Capitec Business. I hate having to write negative reviews but I feel that this one is necessary.

I just received an email stating there were "Technical issues" with deducting my monthly overdraft facility fee of R69 per month from March to December and that we will be back-charged. While the offer to only charge for the months that the facility was used is commendable, the charges should be waived because your clients should not be penalised for your system error. If I "go into the negative" it is usually for a very small amount and it is topped up almost immediately so I actually don't need it. Now I am going to be essentially ********** because I used it as a very quick buffer and not due to lack of funds. If I had known this was going to happen I would not have used it. Furthermore, the extremely high annual fee came as an unpleasant surprise a few months ago because I did not know of such. It's obviously in the 'fineprint' and I do not remember this being disclosed to me by the telemarketer who was very enthusiastic to sign me up for it. I actually queried the charge as I thought it was *****.

Please be advised I am strongly considering cancelling the overdraft facility and may even contemplate moving my account elsewhere. Over the years I have always praised and defended Capitec's excellent service, however things have definitely been slipping particularly in the business account side. I have also heard a few stories from independent sources of questionable things happening with Capitec Business.

Please do not telephonically contact me. Use email only.