1 reviews | Active since Jul 2016
Unfortunate Bias and Lack of Transparency (Capitec protecting Clientele *****ulent debit orders): My Experience with Capitec's Handling of a Disputed Debit Order
Capitec has demonstrated a concerning bias towards protecting their larger business clients at the expense of their smaller clients. I recently had an experience with my mother involving a disputed debit order from Clientele Life Incident# ***. Despite her efforts to resolve the issue at the branch, she was unable to get Capitec to open an incident. She resorted to contacting their client care center instead. While they initially promised to investigate the matter upon receiving an affidavit, they eventually stopped responding altogether.
Despite my mother's diligent efforts in opening a ***** case and providing the required affidavit, Capitec failed to provide any feedback or escalate the issue further. To add to the frustration, their Facebook page claimed that an agent was handling the matter, but it has been nearly two months without any communication from them. In contrast, Clientele promptly informed us that Capitec confirmed a debicheck was conducted. However, Capitec has not provided any evidence to support this claim, leaving us unable to verify Clientele's stance.
It is worth noting that a debicheck typically leaves traces behind. If my mother had swiped her card, the transaction with a corresponding transaction ID would have appeared on her statement. Additionally, if she had accepted the debicheck through the app or phone, there should be evidence of such activity. Unfortunately, Capitec has not provided any of this crucial information, thereby obstructing our ability to determine the truth.
Given the lack of cooperation and transparency from Capitec, we have decided to report this issue to the banking Ombuds. We hope that they will investigate the case impartially and provide a fair resolution. It is essential that the Ombuds thoroughly examines the matter without any bias towards either party involved.
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards
Capitec Bank
Thank you for letting us know of your concern, and for your patience while we explore this matter. We have assigned your query to a designated official who will contact you within the next business day.
Kind regards
Capitec Bank
My concern lies with Capitec's handling of the situation. It took an incredibly long time, nearly 6 months, to reach a settlement. The primary defence put forth by Clientele was that they had received confirmation from Capitec that a Debicheck had been performed. Had Capitec conducted a prompt investigation into the undisputed debit order report, this case could have been resolved within a matter of weeks. By not properly investigating and confirming whether a debicheck was conducted for the transaction, Capitec inadvertently enabled Clientele to carry out the *****ulent transaction.
This situation is disheartening because it involves prominent financial institutions potentially colluding and breaking the law. Acts and regulations are put in place to ensure the integrity of our financial industry, and it is our responsibility to hold each other accountable for upholding these laws. When financial institutions themselves abuse or enable each other to do so, it undermines the progress and stability of our country. We must strive for a robust financial system that adheres to these laws and works towards transparency and fairness.
PS: I hope Capitec will do better with the next client who finds themselves in the same situation.
My concern lies with Capitec's handling of the situation. It took an incredibly long time, nearly 6 months, to reach a settlement. The primary defence put forth by Clientele was that they had received confirmation from Capitec that a Debicheck had been performed. Had Capitec conducted a prompt investigation into the undisputed debit order report, this case could have been resolved within a matter of weeks. By not properly investigating and confirming whether a debicheck was conducted for the transaction, Capitec inadvertently enabled Clientele to carry out the *****ulent transaction.
This situation is disheartening because it involves prominent financial institutions potentially colluding and breaking the law. Acts and regulations are put in place to ensure the integrity of our financial industry, and it is our responsibility to hold each other accountable for upholding these laws. When financial institutions themselves abuse or enable each other to do so, it undermines the progress and stability of our country. We must strive for a robust financial system that adheres to these laws and works towards transparency and fairness.
PS: I hope Capitec will do better with the next client who finds themselves in the same situation.