Capitec Bank
Capitec withhold funds for no reason

Capitec are unable to handle Nedbanks merchant telephone authorisation system.

I used savings on my capitec card as a deposit for a rental car. The rental company took "authorisation only" through the Nedbank merchant telephone authorisation system. Upon my return they checked the car and then had Nedbank cancel the authorisation. That was on Monday the 6th of May.

Today is the 15th, after 4 days of visits to Capitec bank they informed me it will take them 35 BUSINESS days to release the deposit. That's nearly 2 months. According to Capitec HEADOFFICE the nedbank merchant telephone authorisation system goes through as a transaction on the Capitec system and therefore could be reversed at anytime within 35 days. Every other bank in the country is able to refund this amount within 48 hours, except for Capitec who take 35 business days.

After several months of being an ambassador for Capitec they have left me with a zero balance in my account, no money for food or petrol and no one to help me. The branch has tried in vein, but can only speak to Headoffice call centers and have no escalation path.

Capitec i feel completely helpless and as if there is no one who can help me.

Company: Capitec Bank
Country: South Africa
City: Head office

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