Unfair Account Closure, Lack of Communication & Withheld Funds by Capitec

I am writing to raise a serious complaint about the way Capitec Bank has handled my account issue.

On 19 September 2025, I transferred money from my FNB business account to my personal Capitec account to pay people and make business-related transactions. I chose Capitec because their transaction and withdrawal fees are lower than FNB’s.

Shortly after the transactions, my Capitec account was blocked, and I later received an email stating that my account was identified as a mule account and would be closed. This was extremely shocking and unfair because I use my accounts strictly for legitimate business purposes.

I submitted all the documents and affidavits Capitec requested, but since then, I have received no feedback or communication from them. It has now been over a month (since 19 September 2025), and despite sending several emails, I have not received any reply, update, or phone call explaining the progress or outcome of my case.

Because of this, I currently have undone projects and business operations that are stuck, since I cannot access my funds. This situation has caused me serious inconvenience, financial strain, and loss of business opportunities, while Capitec continues to ignore my follow-ups.

I am urgently requesting Capitec to: 1. Review my case immediately, 2. Release my funds, and 3. Provide proper communication about the resolution process.

The way this matter has been handled is unacceptable for a bank that prides itself on customer service. I expect a prompt response and resolution.