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Carol N

1 reviews | Active since Dec 2019

06 Dec 2019, 09:01

CAPITEC BANK REFUSES TO PAY RETRENCHMENT COVER

Hello Peter,

I held a personal load with Old Mutual and Capitec Bank. Both these loans had insurance cover for retrenchment, death and disability. In may this year I was retrenched from my employment. I then approached both lenders to seek activation on the insurance cover as I was now unemployed. With immediate effect, Old Mutual activated this clause and advised that I should advise them should things change. Old mutual Insurance Covered paid my monthly premiums continuously. Capitec Bank on the other hand advised me that I should just pay my installments or settle my debt from the payout I received because they will not pay a cent towards this my account as the retrenchment was a voluntary separation. The consultant I dealt with advised that the process can take up to 6 months and my credit record would suffer a great deal if I don't pay up on my account. Knowing this and a fear of a bad credit record, I settled from what I had and stayed without basics with a hope that Capitec Bank will consider my paperwork and grant the cover favorably as Old Mutual has done. Capitec Bank came back saying that there is nothing they can do. I have since lodged this matter with their disputes resolutions. Capitec refuses to allow one to have their own insurance cover on personal loans. They make sure that they score from this insurance cover. We get to this point, they change tune and play tactical. I have banked with Capitec for over a decade and this kind of treatment is offensive to the core. They are brutal and inconsiderate. There is nothing I could have done to avoid my retrenchment. I did not ask to be retrenched. I was just a month back from Maternity Leave. I needed a source of income. They took the last bit I had for themselves and refused to settle. I have been without work ever since and have suffered greatly as a result of their actions.

Disgruntled Capitec Bank customer

0
Replies (8)
Capitec Bank
Capitec Bank's reply06 Dec 2019, 09:41
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
Capitec Bank
Capitec Bank's reply09 Dec 2019, 14:47
Official
Hi Carol N

Thank you for providing me with an opportunity to look into your matter.

Kindly be advised, I've been trying to contact you but you've been unreachable. 
 
Please return my call on the number provided in the SMS sent to your contact number. 
 
Kind regards 
Capitec Bank
CN
Carol N's update09 Dec 2019, 16:38
Reviewer Update
Good day

Thank you for the swift response. I have not received an sms with you contact. I have been receiving calls from numbers that have automated machine on the other end. I'm not sure if one of those was yours. You have my number. Please contact me or drop me an email with you feedback. you have both my number and my email. I have not received any form of communication and I have been expecting to hear from you.

Please resend your sms I can contact you back soonest.

Regards,
Carol
CN
Carol N's update18 Dec 2019, 14:48
Reviewer Update
Hello Peter,

I have not received a response from Capitec. I made numerous attempts of following up with them leaving messages and requesting to be linked with the person handling this case, to no avail. This is very disappointing from Capitec and its a clear indication of their ignorance to my plight. I'm not sure why they came here as said 5 working would resolve my concern when up to now, there does not seem to be a person appointed to work on my case.
Capitec Bank
Capitec Bank's reply20 Dec 2019, 15:50
Official
Good day

As discussed telephonically, I trust that your issue is now resolved.

Kind regards

Complaint Management

Capitec Bank

CN
Carol N's update20 Dec 2019, 16:31
Reviewer Update
Good day,

Thank you for the swift response. Indeed, I received a positive news today. Thanks to Lucretia Japhta on her efforts in ensuring that this matter gets the necessary attention. I'll provide feedback as soon as matter is finalized
CN
Carol N's update07 Feb 2020, 08:16
Reviewer Update
Hello Peter,

The matter is still not finalised. Capitec is still giving me a runaround and I don't even know who to speak to. Contrary to the above response from Capitec, there's no interest nor acknowledgement to resolve this matter. I'm conviced that Capitec is avoiding resolving and paying what is due to me.

I'm not sure how much longer I have to wait but it's been over 5 months now. I'm utterly disappointed because their written response to me on the 20th of December confirmed that they will payout by end of January.

Would you not be frustrated Peter?

Carol

CN
Carol N's update04 Mar 2020, 11:45
Reviewer Update
20th of December Capitecs' reply was their thanks because my issue was resolved, while I was conversing with Lucretia Japhta from Complaints Managemen who is handling my query. NOTHING HAS BEEN RESOLVED. Lucretia herself has been ducking and diving because she hasn't even returned a single message I've left for her, both on email and via the phone!!! I was suppose to get a payout end of Jan and it's now March, I've received nothing while Capitec themselves have confirmed that their insurance has paid them for my claim. Jessica Rademeyer from the Retrenchment Department is also nowhere to be found while she promised to look at my query and get back to me. It was atleast comforting waiting for a certain date, now it's gotten to a point of getting no feedback at all from Capitec. I'm the unemployed fool who keeps on nagging them every day via calls and emails while noone cares to call back or respond to my emails. I'm so livid.