JM
Jacob M

1 reviews | Active since Nov 2013

25 May 2018, 15:40

Capitec can't reverse transactions made in error, wait 14 days

I made extra payment in error to one of my beneficiaries, when I called Capitec bank to request a reversal of an extra payment I was told it cannot happen immediately or in less than 7 day, I have to wait 14 days. I joined this bank thinking it offers better service compared to competition. For so many years they can't get it right like other banks who r able to reverse funds in a few hours if not immediately? If I didn't know the beneficiary it means I get to lose as time passes. The lady at customer was cold when I explained my situation. This waiting period impacts my credit rating from unpaid debits due to funds not being available. Pls Capitec bank look into improving this process, 14 days for funds reversals is a long time..aaaaargh! I must go apply for loan in the meantime..

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Replies (2)
Capitec Bank
Capitec Bank's reply25 May 2018, 15:44
Official

I acknowledge your posting, and have referred it to Keshia Nomdo for immediate attention.

Feedback will be provided within 5 working days, and I trust that this situation will be resolved to your satisfaction.

Complaint Management
Capitec Bank

JM
Jacob M's update25 May 2018, 15:48
Reviewer Update
5 days money will be gone! Y don't u reverse the funds now and then take ur time to investigate?