JG
Jaco G
1 reviews | Active since Oct 2019
16 Oct 2019, 12:16
Capitec Bank & Cheques - a match made in hell!
As a small business operator, I use Capitec for obvious reasons. Last week I made a substantial sale to a big South African firm ***ned by PepsiCo). Not being a registered vendor with them, this client paid me by cheque. Capitec deftly insists that this cheque will take at least 14 days to clear.
The issuing bank of the client is ABSA, and the branch is located 200m across the street from the Capitec branch where the cheque was deposited.
It boggles the mind that it can take 14 days for a corporate cheque to clear! Does Capitec realize the damage they do to small entrepreneurs with archaic rules like this? My cash flow is not only severely disrupted, but all production has ground to a halt because I have to wait for Capitec to clear a stupid cheque...
Shame on you, Capitec. No other bank in SA takes this long to clear a cheque, and for a small fee cheque clearances can be expedited at all the other banks. This will be the very last business transaction Capitec sees from me, and I sure as hell hope you get it right with the business bank you've just bought, but judging from this experience the chances are slim.
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Replies (3)
Capitec Bank's replyOfficial
16 Oct 2019, 15:29I acknowledge your posting, and have referred it to Complaint Management for immediate attention.
Feedback will be provided within five working days. I trust that this situation will be resolved to your satisfaction.
Kind regards
Capitec Bank
Feedback will be provided within five working days. I trust that this situation will be resolved to your satisfaction.
Kind regards
Capitec Bank
Capitec Bank's reply16 Oct 2019, 15:29
Official
I acknowledge your posting, and have referred it to Complaint Management for immediate attention.
Feedback will be provided within five working days. I trust that this situation will be resolved to your satisfaction.
Kind regards
Capitec Bank
Feedback will be provided within five working days. I trust that this situation will be resolved to your satisfaction.
Kind regards
Capitec Bank
JG
Jaco G's updateReviewer Update
24 Oct 2019, 12:22UPDATE: 24 OCTOBER 2019
Three hours after lodging the initial review on HelloPeter a representative of Capitec Bank rep**** in a private reply and promised that feedback will be provided within five working days.
On Tuesday 22 October somebody from Complaint Management contacted me. I was with a client and missed the call, but returned the call within 4 minutes. I was left on hold for an extended period and eventually ended the call. On Wednesday 23 October I called again. This time the original caller was out of office, and the lady I spoke to promised the team leader would return the call once she came out of a meeting. That never happened.
This morning (Thursday 24 October) I called again. The original caller was still out of office, and once again the person I spoke to promised that the team leader will return the call shortly - she was just on another call. An hour later, and no return call.
So that's where I'm standing with the promised feedback I was supposed to receive within five working days, and still the cheque hasn't cleared...
The client informed me on Monday that the cheque was presented and paid - meaning the money - MY MONEY - has been with Capitec for at least four days now.
As this was quite a substantial sale, my little company's cash flow has been under severe restrain because of this delay. Production has basically ground to a halt, and I've had to pay two employees' weekly wages out of my private funds for two weeks now.
A few minutes ago I informed those two employees that I will no longer be able to keep them employed, and that I'm letting them go immediately. Thanks to Capitec's cheque clearance policy, two family lost their weekly income. It was a tough decision, but I had to protect my startup.
I consider this matter closed, and would like to thank the Capitec Complaint Management department for - well, for nothing. Congrats on ****ing small businesses and putting people out of work, but that would just be a terrible thing to say, so ignore that part the way you dealt with my complaint.
Three hours after lodging the initial review on HelloPeter a representative of Capitec Bank rep**** in a private reply and promised that feedback will be provided within five working days.
On Tuesday 22 October somebody from Complaint Management contacted me. I was with a client and missed the call, but returned the call within 4 minutes. I was left on hold for an extended period and eventually ended the call. On Wednesday 23 October I called again. This time the original caller was out of office, and the lady I spoke to promised the team leader would return the call once she came out of a meeting. That never happened.
This morning (Thursday 24 October) I called again. The original caller was still out of office, and once again the person I spoke to promised that the team leader will return the call shortly - she was just on another call. An hour later, and no return call.
So that's where I'm standing with the promised feedback I was supposed to receive within five working days, and still the cheque hasn't cleared...
The client informed me on Monday that the cheque was presented and paid - meaning the money - MY MONEY - has been with Capitec for at least four days now.
As this was quite a substantial sale, my little company's cash flow has been under severe restrain because of this delay. Production has basically ground to a halt, and I've had to pay two employees' weekly wages out of my private funds for two weeks now.
A few minutes ago I informed those two employees that I will no longer be able to keep them employed, and that I'm letting them go immediately. Thanks to Capitec's cheque clearance policy, two family lost their weekly income. It was a tough decision, but I had to protect my startup.
I consider this matter closed, and would like to thank the Capitec Complaint Management department for - well, for nothing. Congrats on ****ing small businesses and putting people out of work, but that would just be a terrible thing to say, so ignore that part the way you dealt with my complaint.
JG
Jaco G's update24 Oct 2019, 12:22
Reviewer Update
UPDATE: 24 OCTOBER 2019
Three hours after lodging the initial review on HelloPeter a representative of Capitec Bank rep**** in a private reply and promised that feedback will be provided within five working days.
On Tuesday 22 October somebody from Complaint Management contacted me. I was with a client and missed the call, but returned the call within 4 minutes. I was left on hold for an extended period and eventually ended the call. On Wednesday 23 October I called again. This time the original caller was out of office, and the lady I spoke to promised the team leader would return the call once she came out of a meeting. That never happened.
This morning (Thursday 24 October) I called again. The original caller was still out of office, and once again the person I spoke to promised that the team leader will return the call shortly - she was just on another call. An hour later, and no return call.
So that's where I'm standing with the promised feedback I was supposed to receive within five working days, and still the cheque hasn't cleared...
The client informed me on Monday that the cheque was presented and paid - meaning the money - MY MONEY - has been with Capitec for at least four days now.
As this was quite a substantial sale, my little company's cash flow has been under severe restrain because of this delay. Production has basically ground to a halt, and I've had to pay two employees' weekly wages out of my private funds for two weeks now.
A few minutes ago I informed those two employees that I will no longer be able to keep them employed, and that I'm letting them go immediately. Thanks to Capitec's cheque clearance policy, two family lost their weekly income. It was a tough decision, but I had to protect my startup.
I consider this matter closed, and would like to thank the Capitec Complaint Management department for - well, for nothing. Congrats on ****ing small businesses and putting people out of work, but that would just be a terrible thing to say, so ignore that part the way you dealt with my complaint.
Three hours after lodging the initial review on HelloPeter a representative of Capitec Bank rep**** in a private reply and promised that feedback will be provided within five working days.
On Tuesday 22 October somebody from Complaint Management contacted me. I was with a client and missed the call, but returned the call within 4 minutes. I was left on hold for an extended period and eventually ended the call. On Wednesday 23 October I called again. This time the original caller was out of office, and the lady I spoke to promised the team leader would return the call once she came out of a meeting. That never happened.
This morning (Thursday 24 October) I called again. The original caller was still out of office, and once again the person I spoke to promised that the team leader will return the call shortly - she was just on another call. An hour later, and no return call.
So that's where I'm standing with the promised feedback I was supposed to receive within five working days, and still the cheque hasn't cleared...
The client informed me on Monday that the cheque was presented and paid - meaning the money - MY MONEY - has been with Capitec for at least four days now.
As this was quite a substantial sale, my little company's cash flow has been under severe restrain because of this delay. Production has basically ground to a halt, and I've had to pay two employees' weekly wages out of my private funds for two weeks now.
A few minutes ago I informed those two employees that I will no longer be able to keep them employed, and that I'm letting them go immediately. Thanks to Capitec's cheque clearance policy, two family lost their weekly income. It was a tough decision, but I had to protect my startup.
I consider this matter closed, and would like to thank the Capitec Complaint Management department for - well, for nothing. Congrats on ****ing small businesses and putting people out of work, but that would just be a terrible thing to say, so ignore that part the way you dealt with my complaint.
Capitec Bank's replyOfficial
25 Oct 2019, 07:36Good day Jaco G
As per our telephonic discussion, your matter has been resolved.
Should you require further assistance, kindly contact us directly.
Kind regards
Capitec Bank
As per our telephonic discussion, your matter has been resolved.
Should you require further assistance, kindly contact us directly.
Kind regards
Capitec Bank
Capitec Bank's reply25 Oct 2019, 07:36
Official
Good day Jaco G
As per our telephonic discussion, your matter has been resolved.
Should you require further assistance, kindly contact us directly.
Kind regards
Capitec Bank
As per our telephonic discussion, your matter has been resolved.
Should you require further assistance, kindly contact us directly.
Kind regards
Capitec Bank