1 reviews | Active since Nov 2023
Capitec Business/ Mercantile Bank ... go elsewhere!
Mercantile Business Bank, owned by Capitec Bank, was merged with Bank of Lisbon (also Capitec) and rebranded as Capitec Biz (aka Capitec Business Banking)
While these accounts are accessible via the normal Capitec App (swipe left to get the Business login screen) the backend appears to still be the old Mercantile system.
It offers very little by way of what customers have come to expect of their banking platforms in this day and age. All functionality is extremely limited.
As a Capitec Global One client since 2012 I was prepared to be patient and wait while they upgraded the system to receive all the "great things" they promised were coming.
However, that was before I experienced the complete lack of customer service (not the same customer service people as Capitec personal banking) and the problematic systems.
I strongly recommend that anyone looking for a business bank account fir a small business or as a Sole Proprieter look elsewhere.
In 3 months they have not been able to get simple services such as sending me an sms notification when funds come in or go out from my account. (It works perfectly on my personal Capitec account.)
Even worse, I have now had 2 EFT payments never arrive at the recipient Bank!
The 1st occasion was from my business account to my personal account (believe it or not, it cannot be done as a simple transfer due to different banking platforms) That one took me over a month of frustration and arguments before the funds were eventually credited back into my business account.
The second occasion was an eft to an FNB account. FNB have referred the query back to Capitec Business Bank / Mercantile / Bank of Lisbon
After a week I have had no joy from Capitec Business (whose support email is @mercantile.co.za ) and I am settling in for another long wait.
Customer service is non existent.
Do yourself a favour.... you need a small business bank account, go elsewhere.
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
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
However, I do not put that down to any progress on the part of the bank.
The improved response time was only due to "going public" via Hello Peter.
Other issues I have been raising for 3 months have still not been resolved, clearly never will be, and the poor standard of customer "service" remains.
My recommendation remains the same- deal with Capitec Bank (personal accounts) by all means. They are a different animal and have given me great service and support for over a decade.
However Capitec BUSINESS (aka Mercantile Bank / Bank of Lisbon) I certainly would never recommend. I still advise staying away.
I have now opened my small business account with a competitor Bank (offering a LOT more functionality) transferred all my business funds to the new bank account, and requested Capitec Business to close my business banking account.
It remains to be seen how long this takes them, and how much of a run-around they give me in order to get this done.
However, I do not put that down to any progress on the part of the bank.
The improved response time was only due to "going public" via Hello Peter.
Other issues I have been raising for 3 months have still not been resolved, clearly never will be, and the poor standard of customer "service" remains.
My recommendation remains the same- deal with Capitec Bank (personal accounts) by all means. They are a different animal and have given me great service and support for over a decade.
However Capitec BUSINESS (aka Mercantile Bank / Bank of Lisbon) I certainly would never recommend. I still advise staying away.
I have now opened my small business account with a competitor Bank (offering a LOT more functionality) transferred all my business funds to the new bank account, and requested Capitec Business to close my business banking account.
It remains to be seen how long this takes them, and how much of a run-around they give me in order to get this done.