NT
Nick T

1 reviews | Active since May 2018

26 May 2018, 19:06

Personal loan turns into extra charges

A while back I went to capitec to get a personal loanans ever since then I've been paying it each month with no fail. Today I went to capitec to settle my loan, the consultant asked me all the relevant questions and I told him I was looking to pay it off in cash. The settlement amount was R27 176 without interest, fair enough, I pay the R20 000 through internet banking and then the consultant told me that I had to deposit the remaining balance through cash deposit he then proceeded to check and show me on his monitor the remaining amount being R7 176.75 and told me to just make it R7 180 since the machine doesnt take any coins. I went ahead and deposited R7 200 since I didn't have R80 on me into my loan account. He then told me I could go ahead and use the self service to get my statement to check that the account has been settled. To mine and my mother's surprise the statement says the closing balance is R656.21, I do not know where that amount comes from or why is it there. The consultant then explained that this was the amount owed to me because I mean he is the one who helped me settle it and I saw everything he was doing and showing me on his computer screen. He then tells me to take another ticket so that a consultant can help me out with the refund/reversal.

The next consultant who helps me starts to tell me that this is the amount that I'm owing! How? I ask her, she then tells me that this is the interest accumulated since capitec calculates interest rate per day called discharge int and service fee but I then tell her that that's not possible since I paid the monthly installment yesterday and woke up today and came in to pay it off so what interest she talking about. She then says we should call client care to lay a complaint since I saw the amount of the settlement on the monitor myself and the definitely wasn't any R656.21 extra. From there I'm sent to one pillar to another post and no one is able to help me. This is what's called hidden costs, I didn't suck these numbers out of my thumb, these figures came from their consultants and from their computer system but suddenly there more money that I have to fork out. I have to call 5 different departments and none of them can help me because I'm not willing to put out any more money than what was originally asked of me. These arrears come from thin air and it doesn't make sense and no one can explain it to me cause there was no settlement letter sent out but who's fault is that? Mine? I damn well don't think so. I want answers and I want that R656.21 removed from my name because I've paid R27 180 that was required of me to have this debt wiped and I don't appreciate being duped into paying any cent more than is necessary. I'm not paying any more interest accumulated by the time monday rolls around because no one at client care was available to process my complaint, and mind you I need to take a few hours off of work on Monday to go back and sort this out. I am really upset and I feel absolutely **********. Someone from capitec needs to fix this because I will take my money and my business to another bank where all this will be prevented

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Replies (3)
Capitec Bank
Capitec Bank's reply28 May 2018, 09:18
Official

I acknowledge your posting, and have referred it to Sugeibah Ganief for immediate attention.

Feedback will be provided within 5 working days, and I trust that this situation will be resolved to your satisfaction.

Complaint Management
Capitec Bank

Capitec Bank
Capitec Bank's reply04 Jun 2018, 07:14
Official

Good day

I refer to your matter received on the 26 May 2018 . I confirm the matter has been dealt with and resolved on 01 June 2018.

Complaint Management
Capitec Bank

NT
Nick T's update05 Jun 2018, 15:25
Reviewer Update
Update: Capitec has gotten back to me on this matter and it has been handled accordingly. I am once again a happy client. Thank you for the service given to me regarding my complaint and the extent you went to try and contact me and solve this at my soonest convenience.