Double deductions will be reversed in 24 hours, Capitec assures clients

Image credit:

Social media was abuzz on Friday morning as hundreds of Capitec Bank clients reported receiving SMS notifications of double deductions on certain transactions.

In a statement, Capitec confirmed that double deductions had indeed occurred because of a “technical issue,” but said they will be reversed in 24 hours.

IT team working on issue

“We are aware of a technical issue between us and another bank that has caused Capitec clients who transacted on this bank’s card machines to be double deducted. Our IT team is working to rectify the issue.

“The transactions will be reversed within the next 24 hours. We will SMS the affected clients directly. We apologise for any inconvenience caused,” the bank said.

However, Capitec’s head of communications Charl Nel did not name the bank during an interview with Power FM.

He said, “There is a technical issue between us and another bank and our respective IT teams are working very hard at the moment to reverse those transactions.

“When you put your card into a machine, that machine belongs to a specific bank, and that transaction then gets presented to us if you are a Capitec client and the money gets deducted from your account. What happened in this case is that the transaction was presented to us twice.”

‘Capitec is not hacked’

The latest Capitec news sparked rumours that Capitec Bank had been hacked or clients’ accounts compromised. Nel denied this. “There is no firewall that’s been breached. It is a simple transaction between one bank and another bank.

“The file that runs that transaction on our side is presented twice and the deduction went off twice. There is no hack,” he explained.

Concerned clients wanting to understand what is happening with Capitec Bank should rest assured that it was nothing more than a “normal technical problem,” Nel emphasised.

He did not provide a specific number of clients who were affected, but said retail transactions are “high volume” and the figure would therefore be quite high.

“We will do everything in our power to rectify the transactions as quickly as possible after arranging the technical details with the other bank,” Nel concluded.

Be the first to comment

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.