Capitec - Stolen Money

[SauRoNZA]

This doesn't sound like a Capitec problem at all, but just general fraud of some sort which happens to any bank.

Jeez I'm on my third Credit Card for the same reasons...and that's with ABSA/Virgin.

 

[Ockie]

I have read of some the facebook posts. Seems like it is not money that is taken twice...it is delayed payments for purchases made in December or something. I checked my account and all seems ok.

 

[KalMaverick]

I have read of some the facebook posts. Seems like it is not money that is taken twice...it is delayed payments for purchases made in December or something. I checked my account and all seems ok.

My gf found the same transaction for the same amount. It seems to be a double transaction.

This doesn't sound like a Capitec problem at all, but just general fraud of some sort which happens to any bank.

Whether fraud or a glitch with their system it is still Capitec's problem.

 

[xrapidx]

My other half can't remember her login details, so guess she won't know.

 

[satanboy]

What is the reference of the deductions?

 

[KalMaverick]

So Capitec has posted a message:

Note that we are aware that some merchants banked their Point of Sale Machines late. This meant that purchases done earlier only reflected on some clients accounts today. There are no way to force merchants to bank their machines daily. Machines can be linked to any bank.

Doesn't explain why there are double transactions on the statements.

 

[Kosmik]

So Capitec has posted a message:



Doesn't explain why there are double transactions on the statements.

Some machines may be sending same transactions through twice, easy to fix though as the initial transaction is stamped with a unique ref.

 

[OMB]

My daughter phoned me this morning because she was upset that she received an sms from Capitec at 02:00 this morning for an amount of just over R500 for a transaction that took place in December (she also got an sms at the time the transaction took place). Capitec told her it was not a duplicate transaction. I told her to go in a demand a statement. At first I thought it might have been a mistake on her side but now it sounds like something different?

 

[dabbler]

Some machines may be sending same transactions through twice, easy to fix though as the initial transaction is stamped with a unique ref.

I've had that with FNB and was sorted out by the bank a day or 2 later without intervention.

 

[HavocXphere]

*sigh* Shortly after I buy Capitec shares...

I hope they release a less idiotic statement shortly.

 

[Sly21C]

Come join ABSA Bank guys, it might be a bit more expensive but it's much safer. Today, Tomorrow, Together.

 

[KalMaverick]

Come join ABSA Bank guys, it might be a bit more expensive but it's much safer. Today, Tomorrow, Together.

Ja... Not going to happen.

Okay going through my gf's statement it seems there are no double transactions, she just received two SMSs saying money was deducted.

However her mom's account is now in the minus? How on earth is it possible to be in the minus?

 

[KleinBoontjie]

Come join ABSA Bank guys, it might be a bit more expensive but it's much safer. Today, Tomorrow, Together.

/facepalm

 

[R13...]

Apparently some Capitec customers received money

 

[supersunbird]

http://www.fin24.com/Companies/Financial-Services/Hacking-scare-at-Capitec-20130106

News24 story

 

[froot]

http://www.fin24.com/Companies/Financial-Services/Hacking-scare-at-Capitec-20130106

News24 story

Okay so they [Capitec] said that it was due to the merchants only processing the payments then.... why then are we only hearing about this happening to Capitec customers? I didn't see it happening to Absa/Std/Nb or FNB.

 

[Tinuva]

I was once bitten by a new bank closing, this time I was skeptical of Capitec, guess it was a good thing.

 

[SaiyanZ]

It just looks like the money came off accounts a couple weeks late.

 

[KalMaverick]

Okay so they [Capitec] said that it was due to the merchants only processing the payments then.... why then are we only hearing about this happening to Capitec customers? I didn't see it happening to Absa/Std/Nb or FNB.

I'd like to know how then subsequent transactions at the same merchant got processed normally but the ones around the 16th only got processed now?

Why would the merchant process the later two but not the earlier one?

"The information we have at this moment is that some merchants did not 'bank' their point of sale machine transactions until last night. Some even date back to December 18.

They didn't 'bank' their sale machine transactions from the 18th but all the subsequent ones they did? Does that make sense?

And still, why was the amount not kept under processing until 'banked'.

It just looks like the money came off accounts a couple weeks late.

That seems to be it, however the problem is people received SMSs saying it was deducted, then carried on as normal, then the amount that was 'reserved' for those transations was available again all of a sudden a week or two later with no SMS or any indication letting customers know, so people actually spent money they didn't have.

They should have stopped that money from being used.

 

[shooter_za]

These systems work on batches of transactions. Files get generated on one system and gets sent to another in a format it understands. The merchants also use 3rd party companies to process their transactions. So somewhere a batch got lost. I'm not sure why the funds would get "unreserved". Maybe there is some timeout.