Capitec points finger at Nedbank for double deduction error
Capitec Bank says it’s working around the clock to fix the glitch that left some of its clients baffled by unauthorised payments on Friday morning.
Frustrated clients took to social media, calling on the bank to account for the payments.
READ: Capitec clients hit with unauthorised debit transactions
In a statement, the bank said the error was caused by its competitor’s systems.
“The double deduction was caused by a technical issue on Nedbank’s systems, which affected billing on their point of sale terminals.”
The bank added it would take at least 24 hours to reverse the payments.
“The double deduction was caused by a technical issue on Nedbank’s systems, which affected billing on their point of sale terminals,” the bank said in a statement on Friday.
“We have to follow a standard industry process.”
The Financial Sector Conduct Authority (FSCA) said it would engage with the banking sector and review their systems to avoid such instances.
“The Authority has also taken note of Capitec clients’ complaints about this issue and have engaged Capitec accordingly. The bank’s management team has assured the FSCA that this matter is being attended to urgently.
“The FSCA is monitoring the situation and expects a speedy resolution in the best interests of all affected Capitec clients.”
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