Complaint – Capitec Bank’s Treatment of a Fully Compliant Credit Provider

HelloPeter Complaint – Capitec Bank’s Treatment of a Fully Compliant Credit Provider

Title: Capitec Bank’s Dismissive and Unprofessional Treatment of a Registered Micro-Lender Seeking a Debit Order Facility

Complaint:

I am deeply disappointed by the manner in which Capitec Bank has handled my recent enquiry regarding access to their Collection Facility (Debit Order Service). As a registered and fully compliant micro-lending business operating under the National Credit Act (NCA), I approached Capitec with a legitimate and professional request: to obtain a debit-order facility in order to manage client repayments efficiently and in line with regulatory requirements.

My initial communication to Capitec was clear, respectful, and business-oriented. I introduced myself, my company (City Capital), and explained exactly why the Collection Facility is essential for an NCA-regulated credit provider. I also offered flexibility for a discussion and further engagement.

Capitec responded and requested additional information — which I provided promptly. However, after several interactions, I received a cold, dismissive rejection stating that Capitec only onboards loan service providers who already have historical debit order statistics. In other words, unless a business already has debit order facilities through another bank, they will not even consider assisting.

This requirement is illogical, unreasonable, and frankly insulting to my intelligence.

Banks exist to enable businesses, not to discriminate against compliant credit providers who are seeking to operate properly within the financial system. Capitec’s stance essentially blocks emerging lenders from ever accessing debit order services — which is neither fair, progressive, nor aligned with South Africa’s financial inclusion goals.

What makes this especially disappointing is the manner in which the rejection was delivered: abrupt, cold, and with no attempt to offer alternatives, guidance, or a willingness to engage constructively. After years of loyalty as a customer, this level of dismissiveness is extremely unprofessional.

I want other potential clients, especially micro-lenders and small loan businesses, to be aware that Capitec’s sponsoring bank policy does not support new or growing credit providers. Instead of uplifting small businesses, they erect barriers that make compliance and operational efficiency unnecessarily difficult.

Capitec has unfortunately lost my trust — and my business — as a result of this experience.

Albert T. Langeveld City Capital – Registered Credit Provider