Capitec are theives!

I had long term investments with Capitec that I had to cancel due to cash flow issues. Capitec’s cancellation fee was the reversal of ALL the interest on each investment FROM INCEPTION! Now you cant discuss it with the clerk you are dealing with as they are none the wiser and have no authority to change it. I took Capitec to the Ombudsman which said they cannot do anything about it. The cherry ontop was that Capitec confirmed that I am still liable for the tax on the interest to SARS even though I did not recieve a cent from them.

Take your money to another bank and make sure you get in writing what the cancellation fees are!