DON'T TRUST CAPITEC WITH FOREIGN TRANSACTIONS

Don't trust Capitec with your money. This is my third review, both times I've posted here I received an automated response to say that someone would contact me within the next business day. This NEVER happened.

A payment was processed to my Capitec account from Switzerland. I provided proof, from the Swiss bank, confirming that payment was made. When I reached out to the CEO office (after receiving poor service with my first foreign payment, which was also delayed), Capitec said that the transaction would take 3-7 days. This after I filled in a standing instruction form, which would allow for payment to be released immediately once transferred. The Swiss bank also confirmed that payment would take between 1-2 days to reflect.

Nevertheless, I spent the days on the phone, with Capitec's forex department, and drove hundreds of kilometres to visit a branch after days of fruitless phone calls. In the branch I sat for almost 4 hours, while the manager spoke to the forex department. After phoning Mercantile, I was told that the money was not released to Capitec. After spending the next day emailing and phoning AGAIN, Mercantile sent proof that the money was released to Capitec. I forwarded this proof to Capitec's CEO's office. CAPITEC CONFIRMED THAT THE MONEY WOULD REFLECT IMMEDIATELY ONCE RELEASED FROM MERCANTILE, AS I'VE FILLED IN THE STANDING INSTRUCTION FORM - SO CAPITEC WHERE IS MY MONEY???? WHY ARE YOU IGNORING MY COUNTLESS EMAILS AND NOT RELEASING WHAT IS DUE TO ME?

DON'T TRUST THIS BANK! Believe me, you need to fight to receive your money and their customer service is non-existent.

Capitec is not what they used to be!