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MN
Mark N

1 reviews | Active since Mar 2013

20 Apr 2016, 22:51

**DON'T EVER TAKE OUT A LOAN WITH CAPITEC BANK**

I took out a loan with Capitec,they happily gave me a loan knowing i was a contract employee, i notified them of this as well as my companies HR.in this loan there is a retrenchment insurance,should your company retrench you your loan will then be covered by this insurance,this was app**** to my loan as well,unfortunately i have been retrenched,my employer was not making profits and therefore retrenched their staff,i notified capitec,they requested documents which i sent through,today i received an email saying they will not be able to cover my loan,and their reason was because i am a contract employer,why did they give me a loan in the first place?they knew and confirmed with my HR that i am a contract employee.On top of this when i went to query this at the branch today the Manager clearly stated that Capitec consultants blindly give out loans not knowing that some customers will not be covered and others will be covered by the retrenchment insurance,I was also accused by the manager (mimi Jevu) that ,apparently i was aware that i was going to be retrenched and that is why i took out the loan, this is shocking,please spread this message and never deal with capitec again !!!

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Replies (2)
Capitec Bank
Capitec Bank's reply21 Apr 2016, 09:27
Official
Hello Marklynnaidoo,

I acknowledge your posting, and have referred it to Roxanne Pridgeon for immediate attention.

Feedback will be provided within 3 working days, and I trust that this situation will be resolved to your satisfaction.

Complaint Management
Capitec Bank
MN
Mark N's update04 May 2016, 07:09
Reviewer Update
hi all , this is Capitecs reply below Good day Mrs Naidoo Please accept my apologies for the delay in response, I was out of office. I have received feedback from the relevant department regarding your matter. They advised that your claim for retrenchment cover remains declined. Unfortunately the retrenchment cover is at the discretion of Capitec Bank as the service offered to clients is free of charge. Roxanne Pridgeon Complaint Management Officer and below is my reply Hi Okay i will take it further. Unfortunately you havent given me feedback with regards to the the Manager i dealt with who indirectly called me a ***** that i will not tolerate especially being an extremely good payer, loyal and honest customer. This is not the end of this. Im not one bit happy with the response and extremely bad service as well as the misleading information from capitec. People should not even have an account with capitec who gives loan to just anyone, promises retrenchment and falls back on their promise due to circumstances that they just make on the spot. Also management make accusations without any proof. What kind of bank does that. Another important factor is that they dont have proper training on procedures and not on the same page. Capitec needs proper restructuring and proper training. And i want action to be taken against the manager , i will not tolerate anything less ************************** on top of this my family members are ready to close their Capitec accounts , i will post their account numbers shortly , so Capitec can have a look at them and see that they actually closed!