Years of being overcharged on my CAPITEC BANK credit card... correct and reverse, urgently.

Instead you deducted R2,686.55... Ooooh my God! How and when do you rectify that? Do you understand how difficult it is to make ends meet?

You mistakenly deducted R2,686.55 and when I alerted you... instead of apologizing... you made it all available and did not deduct the monthly R730.64 x 48months arrangement budget details
straight to budget to save | 0032
Outstanding balance: | R 25 963.41
Original amount: | R 25 998.90
Monthly instalment: | R 730.64
Interest rate: | 15.25%
Remaining term: | 48 months
Original term: | 48 months
Date added: | 09/04/2021

Instead you charged me for using money you mistakenly took and yet you say I have an outstanding Straight Balance of R 345.62 and my Payment by debit order for 15/05/2021 is R 1 043.33... see below

Available Balance R0.00
Payment by debit order: 15/05/2021 | R 1 043.33
Current balance: | R-26 309.03
Credit limit: | R 26 000.00
Interest rate - straight: | 15.25%
Budget balance: | R 25 963.41
Interest earned tax year: | R 6 012.18
Date opened: | 03/08/2019

How am I being charged more than the agreed arrangement of R730.64 x 48months = R35 070.72 (for a R26000.00 outstanding balance... )?

Why am I being charged an additional R658.31 and please don't say it includes administration fees and insurance fees because those are charged separately and nit included in this.

Please do not try to call me because I don't get answers or clarity when you call... I prefer an email, which explains all this...

Why the poor treatment... especially during such a difficult time? I don't miss payments, but I am overcharged and I never really get help when I ask questions. Even when I pay extra into the account and I have a negative balance... I am charged for using a negative balance.

BANKS NEVER ADMIT TO BEING WRONG FOR OVER CHARGING instead try to make us feel like idiots, who don't understand banking or accounting... when it's really simple maths. But if I miss a payment... some rude woman will call and threaten me and be uncompromising and yet, I must be ignored or forced to be understanding.

Good day Nxumalo

I refer to your complaint raised on 30 April 2021 and thank you for providing us with an opportunity to look into the matter.

Kindly be advised that the amount debited in April is correct. Your instalment is based on the outstanding balance of the credit card.

Based on the statement your payment is set to debit 10% of the outstanding balance.

Kindly be advised the below was the instalment due for April.

Below is the instalment due on 15 May 2021.

Kindly be advised that interest will be charged on the straight balance if the interest-free payment is not paid in full by the due date. Interest is due on transfers, payments and cash transactions from the transactions date.

Should you have any further queries, feel free to contact us.

Kind regards

Tarryn McKerry
Complaint Management Officer
Complaint Management

Evening, Tarryn McKerry

You have said absolutely nothing... I have asked several questions and you chose to give me a generic response after 5 days of investigating?

You have not explained the wrongful/******** debited amount of R2,686.55 on the 15th April 2021, which resulted in the additional amount charged as Straight Balance of R345.62.

The R730.64 debit order, which was scheduled for the 15th April 2021 was not processed by CAPITEC Bank... and no explanation was provided, as to what happened an why? Instead, I was charged R345.62...

According to your calculations, following you wrongful/******** debited amount of R2,686.55... R730.64 (x 48months) + R345.62 + R102.95 = R1179.21.

If CAPITEC Bank abided by our contract of R730.64 x 48months from 15th April 2021... then it would have meant that after 15th May 2021... our contract should have read... R730.64 x 46months).

I should only be paying 730.64 + 102.95 (insurance) = 833.59

So, is this solving a problem according to Capitec Bank?

Wow...

Issue not resolved and I am not satisfied...

Regards

| Complaint Management (Business Support Centre) | 10:00 AM (21 minutes ago) | |
to me, ComplaintGood day Christine Kindly be advised that your statement date is _ You chose the payment percentage of 10%, So 10% is calculated on the revolving balance of that day, plus the service fee for the month. The interest will be charged on the straight balance if the interest-free payment is not paid in full by the due date. Interest is due on transfers, payments and cash transactions from the transactions date. Kindly be advised that this is how your credit card instalment is calculated. Straight plus budget:We have to add together all budget and straight amounts owed on the day the statement date is created and that will determine the amount due. Budget Facility:In cases where clients has multiple budget facilities at various terms, balances at various terms, balances and instalments. On the day the statement is created all the instalment amounts for all budgets are added together and is then payable on the next paydate. Kindly be advised that from 1 March 2021 to date you have a total of 32 budgets that you have created which are all calculated in to your instalment. This is how we calculated the below instalments owed. If you are still dissatisfied with this explanation, you are welcome to take the matter further with the Ombudsman. Should you have any further queries, feel free to contact us. Kind regards Tarryn McKerry
Complaint Management Officer
Complaint Management

T +***9 F +***2 M +***0

Morning

You are right, I did choose the payment percentage of 10%... but I arrangement a budget for the R26,000.00 as following... R730.64 (x 48months) = R35,070.72. So why did you still go ahead and ********ly deduct R2,686.55 on the 15th April 2021?

Answer this question... don't read me the standard procedure act in an attempt to avoid taking responsibility. Answer my specific question...

Morning

You are right, I did choose the payment percentage of 10%... but I arranged a budget for R26,000.00 as follows... R730.64 (x 48months) = R35,070.72. So why did you still go ahead and ********ly deduct R2,686.55 on the 15th April 2021?

Answer this question... don't read me the standard procedure act in an attempt to avoid taking responsibility. Answer my specific question...

Regards

CHRISTINE