Poor Service and product knowledge

I really hope that this email will explain to you exactly how we feel about Capitec, as at this moment I will not refer anyone to Capitec, because our experience was not pleasant at all.

My 1st encounter with Capitec bank was an email from Capitec that I could qualify for a revolving Loan, your access facility credit. It came at a very good time as we where looking at Credit facilities because we where interested in buying a new business and needed running capital.

On 6 July I did a online inquiry for the access facility, there after I gave Capitec a call to complete my credit application Incident number #***1. I sent all the required documents through and the same day Capitec came back with a query on my UIF, asking for a letter to explain. We did what was asked and sent the relative documents back. 2 days later on 8 July, I had not heard anything from Capitec so I sent an email asking for an update, with no reply. Monday 11 July still no response so I gave them a call. They said the company I am working for is not listed on compuscan so my application cannot go through. This company is a sole proprietor so what must we do to register this business or to still be accepted for the credit, was my question and no one could answer me.

On 12 July I went into the branch at Bayside asking for help. The people in the branch were fantastic and very helpful. I received great service from them. The gentleman explained to me what would be needed from me, because according to the system I had a block on my name cause of the UIF query. So Friday 15 July I went back to your branch with 3 month bank statements, 3 payslips and a confirmation letter of employment, that I received from your branch that needed to be completed and signed a letter about the UIF query. I was at your branch for 4 hours from 9am to 1 pm, the guy helping me there tried everything possible to help. We lifted the block from my name, went through a whole process and in the end it was declined again because of my business not being on compuscan. And yet no one can tell me what compuscan is or how to list the business on compuscan, which is ridiculous cause not every company in SA is on compuscan so 70% of SA won’t be helped then by Capitec even thought our credit record is immaculate and there is evidence of income. And can I please add I am 7 months pregnant this is not an enjoyable experience sitting in a branch for 4 hours!!!

I returned home, spoke to my husband and he suggested to maybe try and get a access loan on his name, as he works for a larger company and they might be on Compuscan. We went online and did a credit application for him, phoned Capitec and the call centre transferred him to the correct division as he is a commission earner. He received an email for incident number ***6 on Friday 15 July. He supp**** them with all the necessary documents, payslips, bank statements etc on the same day. He had no response at all. On 20th July, he followed up via email and still no response. Further follow up emails were sent on 21 July, 27 July, 2 August and until today, not a single response from Capitec. On 2nd August he even logged a complaint on the client care email address. No response despite stating email stating we would receive a response within 48 hours. A follow up email was sent to client care on 5th August and up until today had NO RESPONSE WHAT SO EVER from Capitec. I really think this is appalling, even if your bank decided to decline it at least respond to us!!!

I also logged a complaint in the hope that someone can explain to me how to go ahead with a loan application, seeing that the business is not on Compuscan. I actually got a call from Capitec on 21 Jul and they said I must go back to the branch to lift a block again because there was now a block on the account about the company not being on compuscan. I explained to the lady that it was a sole proprietor, so she said I must apply again but through MIE.

Again I went to the branch on the 22nd I sat there for about 2 hours, we managed to lift the block and tried to list the business, and all of a sudden I was only approved for 48k which was not really enough.

BELIEVE ME BY THIS TIME I WAS SICK AND TIRED OF CAPITEC AND THEIR SERVICE!!!

The Branch assistant sent in a request for an application on MIE. I got a call from a lady who asked for 6 months bank statements, from me and the business, including invoices to show that I get an income from the business. I sent all the relevant documents through. REF NUMBER : ***3. This was on 26 July. 27 July I received an email asking for a transaction history for up to 27 July as I didn’t have a new bank statement yet and the latest statement sent was for up to 12 July. I sent the required statements through the same day still. Thereafter I did not hear anything from Capitec. NO RESPONSE TO EMAILS AND NO UPDATES until 16 August, a whole 20 days later. And again they asked me for personal and business statements which I emailed to them on 16 August.

On 17 August I got an SMS to say my application was declined, with no explanation at all!!!!!

REALLY THIS IS THE WORST SERVICE EVER!!! I Mean, I know for a fact my credit record is good, I can show you multiple income streams which is good. On your computer system I am approved for more than 300k so why was it declined? I emailed a few times now, to the email address where I sent my bank statements to, to please tell me the reason, maybe we can still sort out the problem, but I got no response at all, I even phoned and the call centre also have no answers to me.

I am seriously not happy with this service, the time spent and wasted is unacceptable.

Hope you can shed some light on this so that we can understand or maybe assist us in the application.