LI
Lee I

1 reviews | Active since Feb 2018

20 Feb 2018, 12:33

Special cheque clearance

A cheque was deposited into my account with special clearance. I've been told it takes 7-10 business days for this, where a normal deposit takes 14 calendar days however the fee is 3 times the normal deposit fee. By my calculation that means the cheque will clear on 1 March, either way, as it was deposited on the morning if 16 February. What's so special: paying R90 for special clearance service Vs R30 for normal, when the outcome is the same. The drawer of the cheque is a liquidation company meaning the funds are in lieu of employee monies not paid by an employer and the cheque isn't crossed, so in my opinion should clear immediately. But no one can assist that I've called.

0
Replies (2)
Capitec Bank
Capitec Bank's reply20 Feb 2018, 13:04
Official

I acknowledge your posting, and have referred it to Keshia Nomdo 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

LI
Lee I's update20 Feb 2018, 13:10
Reviewer Update
Thank you for the response. However in 5 working days the cheque should be about to clear. This is a complaint so you can take action and get me my money by ensuring special clearance, not just higher fees for the same service. Other banks do special clearance in 2-4 days.