HL
Hansie L

1 reviews | Active since Jul 2020

01 Mar 2022, 19:30

Mercantile could spoil Capitec's growth

I am a very happy Capitec client for a number of years allready. I was eagerly awaiting the purchase of Mercantile and I expected that the system of Capitec would take some time to be implemented in Mercantile. I decided to open a small business account with Mercantile to close another account that we have had for over 20 years with one of the big banks. The fees looked fantastic and initially (at the setup) the service was great. Then everything fell flat. The business banker did not event reply on straightforward emails. He did not return his voicemails that was left on his office phone. He did not respond to a direct sms that was sent to his personal mobile phone. I assumed that he left the services of the bank. I managed to get certain documentation done through their system on Feb 2 (docusign).

I duly sent a follow up email after this was done. The service company emailed me with copies of all the completed documentation. After a phone call to them to follow up (needless to say that email was also unaswered) to ask I was told that I had to do all the documentation again as this is not reflecting on the system. No phone call, no sms, no email to explain.

The process has been dragging on for months now. Will I bring any of the other accounts that I wanted to move to Mercantile to them? Of course not.

Should I keep my Capitec accounts? I may want to look at other alternatives now. It may be that the Mercantile way of doing things could become contageous. There are great people at my local Capitec branch, but if the rot will set in, they will be helpless.

Maybe it is just one business banker that is acting in this way, but may be it is a culture thing. If he is this bad at communicating before we do business, what could I expect later?

Eish, Mercantile, I do not think I want to do business with you.

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Replies (1)
Capitec Bank
Capitec Bank's reply09 Apr 2022, 12:45
Official
Good day

 Thank you for bringing this matter to our attention. We acknowledge receipt thereof. One of our Relationship Managers will contact you directly for a resolution. 

Kind Regards, 

Mercantile Bank a Division of Capitec Bank Limited