1 reviews | Active since Apr 2025
Do no bank with Capitec Bank - once the funds are there you can't get access to them
Having had a terrible experience with trying to close my credit card with Capitec Bank, and the issue still not being resolved 10 days later, my challenges with the bank continue. I've got a tax free saving account with the bank that matured on Friday 25 April'25. On the 24th April I went into the bank and advised them that I wanted to close the tax free investment account and wanted to move the funds into my debit card. I was assured that someone would phone me on the Friday (25th) to go through the necessary security questions. Well Friday came and went with no call and no access to the funds as the account was now paused. On the 29th I phoned into the banks help desk via my mobile and spent 25minutes on the phone explaining what had happened and trying to get the funds moved across but no luck. Was told that I needed to go into the bank as this could not be done over the telephone. So on the 30th I went into the bank in Sea Point, spoke to who seemed to be the manager, and he assured me that the funds would be in my account on Friday 2nd May. On the Friday (2nd May) the funds were still not available to me so tried the WhatsApp chat facility. 2 hours later I was assured that the funds would definitely be available to me by the end of the day. Well, it now Saturday 3rd May and the the Tax free account still 'paused' and I still do not have access to the funds. I'm leaving for the UK on holiday on Tuesday morning and wanted to use these funds overseas but I guess Capitec feels they would rather keep the money and earn interest on it rather than give it to me as promised.
