Unsatisfactorily Service

I transferred R200 from one of my accounts to a wrong client (also banking with Capitec) using the Capitec *120*3279# on 20 August 2018, I contacted and pleaded with the said client to transfer me back the R200. She first agreed to transfer back the money, but later refused to transfer the money. I went to one of Capitec bank branches in Pretoria Central to try and recover my money. I was advised that they would call the said client and negotiate with her to try and transfer back the money into my account. They also mentioned that would not be able to recover the money if the said client does not give them consent to debit the money from her account. I have not had feedback since. How is it possible that a Big bank like Capitec does not have effective Recovery policies and procedures just other banks.

I ask myself what would happen I / someone else / an organisation transferred amount of R100 000 - R 2 000 000 by mistake to a wrong client banking with Capitec . According to Capitec policies and procedures, the transfer-er would lose all their money. I am very surprised that Capitec can not recovery money in cases similar to mine while other Banks in South Africa are able to do so.

I am switching and informing everyone I know of the bad experience I had

I am switching my salary and debit orders and moving them to other banks that would offer secure and professional banking. I am going to advice my family, colleagues and member organisations to consider banking with other banks and to fall victims as I did.