Where Did The Money GO?! And Why the Ransom?

To Whom It May Concern at Capitec Bank (and I use the term "concern" loosely, given your apparent disregard for your clients' financial well-being),

I am writing on behalf of my mom, Deona Brough, account holders of a 32-day call account with Capitec, account number. This complaint details an utterly unacceptable and frankly, predatory act of mismanagement that has caused financial distress to elderly individuals who entrusted their savings to your institution.

My parents sold their home last year and, based on Capitec's advertised "good interest rate," responsibly invested their funds in a 32-day call account with the explicit understanding that they would receive monthly interest payouts each month to supplement their living expenses. This arrangement functioned as expected until April 2025, when my mother did not receive her expected interest payment.

Upon visiting a Capitec branch to inquire about this alarming discrepancy, she was met with a response that is not only unbelievable but borders on *****ulent. Your representatives informed her that the entire principal amount had been inexplicably moved to a different account, one that would now only provide payouts in November 2025. To add insult to injury, Capitec then audaciously claimed that my mother was responsible for this unauthorized transfer, despite her explicit statement that she does not use internet banking and has no knowledge of how to perform such a transaction.

This is not merely an error; it is a gross act of negligence and a blatant disregard for the financial security of your clients. To then demand a penalty of approximately R3000 to release their own money – money that they rely on for their monthly living expenses – is nothing short of ******ion. Are you truly suggesting that my elderly parents, who placed their trust in your institution, should be penalized for a mistake that they demonstrably did not make?

Capitec's refusal to take responsibility and their insistence that my parents wait until November for their funds is unacceptable. They are being denied access to the very funds they intended to live on, all due to what can only be described as a colossal blunder on Capitec's part.

This is what I would like to happen now:

1. Immediate transfer of the full principal amount back into the original 32-day call account. 2. Payment of the outstanding interest for April 3. A complete waiver of the ludicrous "penalty fee" for releasing my parents' own money. 4. A clear explanation of how this unauthorized transfer occurred and the measures you will be taking to prevent such egregious errors in the future.

We refuse to accept the preposterous claim that my mother initiated this transfer. Capitec must conduct a thorough internal investigation to determine the true cause of this error and hold the responsible parties accountable.

Consider this our formal and public condemnation of your appalling service and your callous treatment of elderly clients. We will be escalating this matter to the Banking Ombudsman.

I would expect that you will now reach out to my mother to rectify.

Bianca My mom's name is Deona and her details are: ***