Capitec frustrating ***** case

I would like to share my experience with Capitec Bank regarding a ***** case, as it raises serious concerns around customer protection, communication, and accountability.

I was a victim of ***** where ****mers impersonated bank representatives. During the incident, I received a multiple OTP messages that appeared to be from the bank, asking me to confirm a transactions of over R200,000 in total.

This was the first time in my entire banking history that I had ever received OTP without trying to pay for anything or not even being on the App. Shortly thereafter, I realised something was wrong money was leaving my account and I have logged a ***** case with Capitec to date there wasn’t even a single update.

At no point did I share my OTP, PIN, or any confidential banking details.

What is deeply concerning is: • Mutilple OTPs weather reject or not money left my account to confirm a multiple transaction exceeding R200,000 • There were no additional safeguards or multi-factor verification steps • There was no option to reverse, challenge, or escalate the response immediately • This communication method had never been used with me before

Despite these circumstances, my claim has been declined.

What adds to my frustration is that the matter has been under review by the bank’s investigators since last year, with no meaningful feedback or resolution to date. This lack of communication and transparency is unacceptable, especially given the magnitude of the loss.

I have now escalated the matter to the Ombudsman for Banking Services South Africa for independent review.

I share this not only in pursuit of resolution but also to highlight the urgent need for stronger ***** prevention measures and clearer, more secure communication channels.

@Capitec Bank I respectfully request a fair reassessment of my case and a transparent update on the status.