Outdated banking tech and support systems

This review is more of a suggestion. I recently had to go into a branch to dispute a debit order because Capitec does not allow you to reverse amounts above R800.00 via phone calls. They reversed it for me at the branch, but I just feel like one should be able to dispute any debit order of your choosing on the app or online, regardless of the amount, because it is still your money and your reasons are your own business. However, this is not the main concern that I had.

The real problem I have is with Capitec's reluctance to invest in new banking technology; I have been in contact with the bank about this before. My argument is that a bank should be able to detect previously disputed debit orders and give the accountholder the option of allowing it or letting it process. Capitec does not do this. Furthermore, at my visit to the branch yesterday, the consultant was not able (the system did not allow them) to stop the debit order they had just reversed. This was due to something we call "obfuscation of transactional intent" whereby the beneficiary company (the one collecting the payment) repackages the same transaction in a slightly different format on the bank's payment processing system to bypass initial attempts of the bank and the accountholder to stop the debit order from going through in the future. My advice is that Capitec figure out a way to flag such instances and block them. Not everyone lives close to a branch; some people cannot go into a bank every month to reverse the same transaction.

The alternative would be to close your account and take your banking business elsewhere.