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1 reviews | Active since May 2023

19 Oct 2023, 20:37

Capitec bank debit order nightmare

I approached Capitec Hayfields Mall Pmb for a loan in July, loan was approved and after a brief discussion with the consultant was convinced to join Capitec because service fees were better that my current bank at the time. Consultant promised me the changeover would be seamless. They would take care of everything. At the end of the first month with Capitec more than half my debit orders were not switched over and the excuse was that the institutions were not cooperative and I incurred charges in excess of R1000 because of this. After some running around all debit orders were sorted (including the debit order for the Capitec loan) or so I thought. At my previous bank I was advised to keep the account open just in case there was issues with debit order payments and close the account once all payments are switched over. To my horror the capitec loan debit order was not sorted and I was penalized for insufficient funds for debits again. Capitec apologised and promised me that the debit order for their loan has now been sorted. At the end of the third month same issue again. Charges for insufficient funds at my old bank because the Capitec loan debit order was still not sorted out. I have had to pay over R2000 because of their consultants inability to switch debit orders as was promised. I spoke to the manager of the branch and was told that Capitec is not liable for all the money I lost because of this. She was only prepared to reimburse me for the one failed debit charge.

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Replies (1)
Capitec Bank
Capitec Bank's reply19 Oct 2023, 21:14
Official
Good day  

Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day. 

Kind regards 
Capitec Bank