Capitec transfer to wrong account

A

aleksandar

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Maid made transfer to wrong account, after realizing that she went to branch but they said that they can not do anything and she needs to go to the police.
She went to police but there is no case so they told her to go back to branch.
In my mind they could notify account owner of wrong transfer and advise to transfer money back but they do not want to do that.

Any advice now to assist her, is there rep on the forum?
 
Banks acting like it's crypto: "Your wallet your funds sorry ne".
 
If not from a credit card, you won't be able to reverse it.

The recipient has to agree to refund, but the bank won't let you know who it is, and won't contact them.

What a way to use regulation to avoid more admin work.
 
maumau said:
Maybe check with Capitec.

I received funds that weren't for me and Capitec phoned asking me to pay back the money.
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Same thing happened with me and was contacted by the recipient's bank. I believe they'll need to do an EFT reversal request which will come with a fee, and it's not guaranteed. Also worth noting that if the account number is invalid, it should bounce.
 
Praemon said:
Same thing happened with me and was contacted by the recipient's bank. I believe they'll need to do an EFT reversal request which will come with a fee, and it's not guaranteed. Also worth noting that if the account number is invalid, it should bounce.
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Interesting.

ABSA won't contact the account owner. Just like "nothing we can do"
 
In South Africa, the recipient is not obligated to return the money. Remember what happened to the person that "accidently" received R14 000 000 from NSFAS. She spent it on bags and crap. :ROFL:
 
It's a bit of a grey area for sure but not because the law is unclear but because the banks have better things to do.

If they're too eager to assist in reversing EFTs then they risk becoming complicit in scams themselves. They also can't afford to act like an escrow service, listening to each side's story. But they also can't completely close ranks around the recipient because it is illegal to keep money that wasn't intended for you.

But it's again a case where they could do more - for one thing there's no reason to be using obscure account numbers as identifiers in this day and age, with not so much as a profile picture to corroborate.
 
I think they should contact account owner and then we can go from there.
Once I found brand new unsigned credit card on parking lot.
Called banks credit card line and explained that I have card and if they would pass my cell phone to the owner.
They did and later owner picked it up, he was not aware that he lost his card.
 
I was under the impression that the bank have their people contact the other bank's people, and they reach out to their client, requesting them to pay back the money. There is no obligation for that individual to comply, with the aggrieved party having to then resort to take it further via the police/court system. Getting unjustified enrichment vibes
 
aleksandar said:
I think they should contact account owner and then we can go from there.
Once I found brand new unsigned credit card on parking lot.
Called banks credit card line and explained that I have card and if they would pass my cell phone to the owner.
They did and later owner picked it up, he was not aware that he lost his card.
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Yes, in a case like this the bank would ask you to contact the recipient bank. It's better if it isn't capitec to capitec.
 
I'm sure with STD when doing a once off or setting up a beneficiary, They warn you to check that the account number is correct as it's not reversable.
 
Dan C said:
I'm sure with STD when doing a once off or setting up a beneficiary, They warn you to check that the account number is correct as it's not reversable.
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All the banks give the warning. Issue is that if the recipient spends the money or withdraws it you have no recourse other than police/civil claim. The bank can't force the person to give it back.
 
Isn't it funny that you can reverse an e-wallet send but not an EFT, FNB e-wallet will set you back R17 though which is madness.
 
Stinkbeaver said:
Isn't it funny that you can reverse an e-wallet send but not an EFT, FNB e-wallet will set you back R17 though which is madness.
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But can you reverse it after it is used? I like the Capitec one where you can change the PIN :ROFL:. A number of people have been scammed that way, send cash send and then immediately change the PIN. This obviously only works where you hand the goods before payment.
 
Thanks for all the posts.
This is latest info.
Got her Capitec whatsapp number to contact bank, they did notify account owner about error however account owner emptied account (WTF), she was advised to go to small claims court.
It was cash deposit not eft transfer that I thought originally and it was for stokvel.

Had a brief chat about saving and that she can open savings account instead of stokvel since she already has bank account. Not sure why there is need for stokvel since most of savings accounts are free.
 
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