Capitec to reverse additional deductions

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According to the bank, it is trying to establish how it happened that a retailer that was using another bank deducted transactions twice from Capitec account holders.

A technical glitch caused the additional deductions without clients’ consent. By this morning a post about the problem on the bank’s Facebook page already had 6,500 comments from angry clients.

Capitec said in a press statement this morning that additional deductions that were made from their clients’ bank accounts will be reversed within 24 hours.

According to Capitec, it is trying to establish how it happened that a retailer that was using another bank deducted transactions twice from Capitec account holders.

Charl Nel, spokesperson of Capitec, said that the bank is in the process of reversing the double withdrawal. Something went wrong technically with the transaction process. The other bank requested the money twice.

“Some clients will see on their account a double deduction. Our IT team and the other bank’s IT team are working together to resolve this as quickly as possible,” Nel said.

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