By CapitecBank has confirmed that some of its clients have experienced late deductions of payments for transactions made during 13 and 18 December 2012. This was due to issues experienced from ABSA-supportedcard machines at select retailers where the card system is integrated into its till networks. Affected clients were notified of their payments via SMS on the day of the initial purchase, however due to the technical error on ABSA'sside, the payments were not authoriseduntil the morning of the 6thJanuary, 2013.
The error occurred as after clients made their initial purchases, the transaction was sent via MasterCard for final settlement from the various retailers and their supporting banks. During this period, clients were also advised that the card transaction was not yet processed on their bank statement although the funds were deducted from their accounts. However, as the final settlement was not authorisedthe payment was cancelledand the funds were made available to all affected clients again. In the bank's experience most transactions can take up to 7 days to authorise. In this instance however, the final settlement was received more than 10 days after the initial purchase. Another SMS was sent to clients advising them of this.
CapitecBank acknowledges the significant inconvenience that this has placed on our clients and we sincerely apologise. We are urgently investigating the problem and updates will be released as soon as possible.
In the meantime, Capitecwishes to highlight and confirm that clients who were affected by the error made only one payment, not two as some comments on social media sites and media reports suggest. Among those who had insufficient funds with which to make the late payments, Capitecwill communicate directly to them to rectify any fees incurred.
Clients are urged to contact CapitecBank's 24 hour call centreon 0860 10 20 43 or engage via Facebook for any updates or information relating to individual's accounts.
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