Capitec Bank refuses to Close My Credit Card Account despite settlement

I am beyond frustrated with the way Capitec Bank has handled my request to settle and close my credit card account. It feels like Capitec is keeping me trapped in debt against my will by imposing arbitrary charges and inventing new rules that aren't part of our signed agreement.

On 14 August 2024, I went to the Gezina branch to settle my credit card account. Despite my clear instructions, the consultant tried to talk me out of it. I insisted, and R13,216.97 was transferred from my savings to my credit card account—more than enough to cover the outstanding balance of R13,022.46. The extra amount was supposed to cover all interest and fees up to the settlement date, as per the agreement (Clause 21), which states I can close the account at any time by settling the amount owed.

However, instead of closing the account, the consultant sent me to another branch the next day. I went to Quagga on 15 August, and once again, they refused to close my account, despite my demands. I was even forced to pay additional amounts—R50 and then R100—on the false promise that these payments were required to close the account. To make matters worse, after all that, the account still wasn’t closed, and on 31 August, I received another statement demanding R170!

This is blatant ******ion. Capitec is refusing to close my account, despite my full settlement and multiple requests, which goes directly against the agreement we signed. The bank's staff invented a 45-day waiting period, which is nowhere in the contract, and continues to rack up charges that I should not be liable for.

Capitec, why are you keeping my account open after I have fully settled it? Why am I being charged additional amounts when the account should have been closed on 14 August? This is unacceptable and *********. Your actions are causing me unnecessary stress, and it's clear Capitec is more interested in keeping me in debt than honoring our agreement.

My Demands:

Immediate Refund of all amounts paid after 14 August 2024. I owe nothing to Capitec beyond this date.

Cancellation of Charges: Cancel all charges and interest accrued after the settlement date. Immediate Account Closure: Close my credit card account immediately and provide written proof of the closure.

Capitec, your handling of this situation has been disgraceful, and I expect you to resolve this promptly. If this issue is not addressed immediately, I will escalate it to the relevant regulatory authorities. Stop ******ing your customers and start honoring your agreements!