Funds frozen by Capitec bank

On the 20th February 2024 my Capitec account was suspended following a service I provided to my customers. I contacted the bank via the contact Centre for an explanation, the bank indicated that the payee who deposited funds into my account, reported my account as *****ulent . It was so disappointing that the bank decided to suspend my account without conducting due diligence and had to suspend my account based on lack of evidence for approx. 2 months . Upon visiting the bank numerous times, they kept on indicating that the matter is under investigation. The funds on hold are R14 900, R4 700 and R4 900 with a total amount of R24 500. To make the matter worse, one of the payee for the amount of R 4 900 by the name of Vuma Gatsha Mgaga is a Capitec client, but its difficult for the bank to resolve the issue. This week I noticed that the bank decided to take R4 700 from that holding funds, and when I called they told me the money was deposited back to the payee's account. They did that without any explanation or whatsoever. On the 22nd April, my daughter deposited an amount of R2000, the money was also suspended.

This matter was raised at Chris Hani crossing branch in Vosloorus with the Branch manager, Ziyanda since February. I was sent from pillar to post with no justification, I cannot access my hard earned money. To date no tangible progress has been provided since Feb until to date.

Futhermore, every time I visited the branch, a new incident numbers is created, to date, 7 incident numbers have been created on the same matter. I am been very transparent with the bank and submitted all the required supporting documents and also made an affidavit. I am disappointed that a bank as reputable as Capitec would do such and also have an *********** investigating team, ineffective, inefficient, no communication at all, no transparency and have no disregard for their client and to even to forcefully keep client funds and make transaction without client's knowledge and consultation. I really suspect that something is ********* is going on.

To the management team at Capitec, May you urgently intervene to this matter as I am disappointed in the lack of service.