I was caught by an online, where they deducted nearly R900 from my account in stead of R260 for a product I have since found out does not exist. I immediately went to the Somerset Mall Capitec bank to stop my card and to stop the transaction. I was told that even though the transaction hasnt gone through from Capitec (money was out of my account, but transaction still pending), they cannot stop the transaction, since I had consented to it. I explained that it was an overseas, and that the product doesnt exist, yet they claimed that they cannot help me. The card dispute department phoned me and told me I have to give the "merchant" 7 days to deliver the "goods", and if it isnt delivered, only THEN can they investigate and maybe reverse the transaction.
I am so upset by this, since I sent them all the details of the and also that way more money was deducted from my account than was suppose to. This didnt seem to make any difference.
All other banking institutions are way more helpful with transactions, and would have reversed the transaction for me.
Its as if Capitec cannot make objective judgements in this regard, and only blindly follow the so-called rules
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