Opening a new Capitec account faster than a KFC order!!!

[supersunbird]

I saw that episode of Speak Out and it put me off my move to Capitec.

The guys card was skimmed:

Speak Out television programme aired on SABC 2 by Capitec Bank on Thursday, 06 January 2011 at 15:29.

It is with disappointment that Capitec Bank has noted the biased report on Speak Out, the consumer watch programme on SABC 2, that aired Wednesday, 5 January at 21h35. There is great concern that the view of the bank was not aired. We regret that the programme producers put junior staff under undue pressure, while no effort was made to obtain and or present the perspective of the bank from staff who could respond to the allegations put forward.



We apologise for the behavior of one of our young sales consultants on camera. We will be addressing this behavior with further training internally.



In the case referred to, the loss the client suffered was due to card skimming fraud. Once fraud is reported, our Forensics department do an in-depth investigation to determine whether there has been any negligence on the part of the bank or the client in compromising his /her card and pin. A decision was taken based on the facts, and a proposal was made to the client.



The major concern is the false perception created by the programme in suggesting that money invested with Capitec Bank is not safe, by highlighting the isolated incident of R13 000 rand fraud, in relation to the 4,9bn rand of client’s money invested at Capitec Bank. This perception is entirely wrong and malicious in intent. Fraud, and particularly card skimming, unfortunately happens at all banks around the world, and Capitec Bank, together with the rest of the industry, constantly strive to make it more difficult for criminals to gain access to our clients’ money.



Capitec Bank is fully committed to safeguarding our clients against fraudulent activities. We call on all our clients to ensure that their card and their pin numbers always remain protected, and not allow criminals to gain access to their cards. The sms-update feature, as an example where clients are informed of any movements in and out of their accounts, is one of the best safeguards a client can implement to minimize his/her risk.



Capitec Bank regrets the incident, the biased way in which it was presented,and the damage inflicted. We will however continue striving to offer the best essential banking option in South Africa.



Riaan Stassen

CEO



.

 

[Ekstasis]

You cannot blame a bank for implementing the requirements of RICA. My neighbour works at ABSA and confirmed the anal requirements of RICA if you have no proof or residence as per RICA. The only way we could get a letter of residential address confirmation accepted by the bank for the Nanny was because she is on my wifes business payroll (CC) and we had an official letterhead that they could use to confirm the existence of the business.

All banks should adhere to RICA requirements, right? Well yesterday I went to ABSA to open a savings account for my daughter. Took her passport,my id & a Telkom account. Didn't accept the Telkom account because it doesn't show my middle name. Went to Capitec and they accepted the account. WTF :wtf: BTW I've been with ABSA for 30 yrs.

I'm also beginning to think stuff ABSA!

 

[Shake&Bake]

Been with Capitec for close on a year and have had nothing but speedy, effortless service from them.

Sent from my GT-I9000 using MyBroadband Android App

 

[MickeyD]

Went to Capitec at Somerset Mall. What an absolute waste of time, they only had three people working. No one greets you, all of them were busy. After waiting for 30 minutes they were all still busy??? NO one could turn round and say, sorry sir we will be with you shortly.

So I eventually got tired of this and walked out!

Eish, Lino... you must be StreetWise, bru!!!!

 

[Juggy]

I thought about the one at Shoprite (as you mentioned it last week), however as I had my wife with me I was not prepared to take her with to a taxi rank. The one at Somerset Mall is shocking and quite frankly left me with a sour taste in my mouth.

There is a branch at Sommerset Mall.

 

[Lino]

There is a branch at Sommerset Mall.

Yes its next to the bottle store (where Primi Piatti) used to be!

 

[Fuma]

Went to Capitec at Somerset Mall. What an absolute waste of time, they only had three people working. No one greets you, all of them were busy. After waiting for 30 minutes they were all still busy??? NO one could turn round and say, sorry sir we will be with you shortly.

So I eventually got tired of this and walked out!

That's the problem with Capitec. The two I usually go to has about 10 counters, but only 2 or three have people working. And it takes forever to assist one person.
I'll be moving to them though since ABSA has been nothing but expensive. 12 years with ABSA and they couldn't even give me car/house finance.

 

[Other Pineapple Smurf]

a friend of ours has been telling us and others about Capitec and how cheap and easy it was to open an account and then on Speak Out on SABC they investigate a Capitec branch in Joburg somewhere for stealing this guys money and the staff look like casuals running a fly by night Capitec branch.

HelloPeter has lots of complaints i see about capitec.

Not here to defend any bank but even my local Standard Bank branch where I bank was in the news where an employee had stolen millions from investors. Our local Boland Bank (shows my age) had 90% of its staff fired for misconduct, blah blah blah

Also most of those HelloPeter complaints are about Loans - I checked as I was going to move my personal bank account over to Capitec but decided not because of Hellopeter (you should check Standardbank client biatch), but for technical reasons.

All banks suck, some just suck less.

 

[Other Pineapple Smurf]

Yes its next to the bottle store (where Primi Piatti) used to be!

Next to KFC, how nice to stereotypically target their market

 

[Other Pineapple Smurf]

Both Capitec and Standard Bank had FICA. Standard Bank gave me a form which I filled out and my folks signed. Hand in, 5 minutes later, bank account. Capitec wouldn't even believe me that I live with them when I brought them there myself.

I've seen that form, my neighbour from ABSA gave me one as that was our first choice for the nanny. Still needed FICA documentation though so either that Capitec branch did not like you or the Standard Bank branch was creative in interpreting the FICA documentation.

Now you at least know how the ANC supporting majority of this country feel when they try to get a bank account. Just tonight my wife is looking around for FICA approved documents so she can change her details - what joy.

 

[waynegohl]

Not here to defend any bank but even my local Standard Bank branch where I bank was in the news where an employee had stolen millions from investors. Our local Boland Bank (shows my age) had 90% of its staff fired for misconduct, blah blah blah

Also most of those HelloPeter complaints are about Loans - I checked as I was going to move my personal bank account over to Capitec but decided not because of Hellopeter (you should check Standardbank client biatch), but for technical reasons.

All banks suck, some just suck less.

no i agree with you that all banks are crooks, if this was a thread about another bank i reckon we would have said the same. The reason I mentioned the things i did was 1) a friend swears by them and 2) they featured on Speak Out.

 

[Other Pineapple Smurf]

no i agree with you that all banks are crooks, if this was a thread about another bank i reckon we would have said the same. The reason I mentioned the things i did was 1) a friend swears by them and 2) they featured on Speak Out.

I've banked with many of the old cost-savers and customer orientated banks, Boland & Perm, and this seems to be what Capitec has used as a benchmark. They are cheap but not for everyone. They are aimed at the unbankable and those that will become unbankable (elderly).

 

[RichardG]

On Saturday had time to open an account with Capitec at first was very skeptical to open an account due to FICA documents etc, walk into the branch with my passport, original rates and taxes at first I thought they would turn me away cause I had a South African Passport normally when I try get anything done at NedBank they want to see an original ID or Drivers license or refuse to help me which is ridiculous and unacceptable as it is proof of identity cause clearly on my passport there is an ID number... Upon entering their branch I have a nice feeling of welcome cause the environment is colourful, seats are comfortable and more than enough staff to attend everyone. Manager assists me cause she is standing by the issue/take (a) number machine, wants to see all the necessary documentation are in order before wasting their time if I don't have the supporting document needed - all in order. . Then she issues me a number takes about 2 minutes later they call my number and a consultant is assigned to me. She mentions the product, fees involved , very friendly consultant the best I have ever dealt with someone who loves her job and has a passion for what she does.
.
I didn't have to fill in any paperwork whatsoever, the consultant(admin work) captures/scans all the necessary documentations, 10 minutes later we are done but stay longer in the branch to add a supplementary card R40 cost...

Service is superb,the consultant told me they are already offering home loans in Johannesburg only and later this year they might introduce a credit card.

Only thing I didn't like about Capitec that they charge you every time you receive an SMS 40cents(cash deposit,cash withdrawal etc) ,going to go into branch and change the notifications amount which will be another cost R3 something

 

[yebocan]

Moved over in March Last year, best decision for 2013 I made...been happy ever since...actually getting competitive interest on my funds...

 

[backstreetboy]

On Saturday had time to open an account with Capitec at first was very skeptical to open an account due to FICA documents etc, walk into the branch with my passport, original rates and taxes at first I thought they would turn me away cause I had a South African Passport normally when I try get anything done at NedBank they want to see an original ID or Drivers license or refuse to help me which is ridiculous and unacceptable as it is proof of identity cause clearly on my passport there is an ID number... Upon entering their branch I have a nice feeling of welcome cause the environment is colourful, seats are comfortable and more than enough staff to attend everyone. Manager assists me cause she is standing by the issue/take (a) number machine, wants to see all the necessary documentation are in order before wasting their time if I don't have the supporting document needed - all in order. . Then she issues me a number takes about 2 minutes later they call my number and a consultant is assigned to me. She mentions the product, fees involved , very friendly consultant the best I have ever dealt with someone who loves her job and has a passion for what she does.
.
I didn't have to fill in any paperwork whatsoever, the consultant(admin work) captures/scans all the necessary documentations, 10 minutes later we are done but stay longer in the branch to add a supplementary card R40 cost...

Service is superb,the consultant told me they are already offering home loans in Johannesburg only and later this year they might introduce a credit card.

Only thing I didn't like about Capitec that they charge you every time you receive an SMS 40cents(cash deposit,cash withdrawal etc) ,going to go into branch and change the notifications amount which will be another cost R3 something

You can change the SMS notification amount to say R500 (I have mine set on that) using online banking under your profile. You can also set the incoming amount to 0 so only transactions out of the account over R500 will trigger a notification. I still need to register the banking app. Just waiting for my new phone.

 

[RichardG]

You can change the SMS notification amount to say R500 (I have mine set on that) using online banking under your profile. You can also set the incoming amount to 0 so only transactions out of the account over R500 will trigger a notification. I still need to register the banking app. Just waiting for my new phone.

Don't have internet banking active as yet! Might purchase the security token. So far I am happy with Capitec Bank they print your name on the card on the same day without any delay whatsoever.

All card transactions/internet purchased are free(no fees whatsoever).

 

[BLIXEMPIE]

Don't have internet banking active as yet! Might purchase the security token. So far I am happy with Capitec Bank they print your name on the card on the same day without any delay whatsoever.

All card transactions/internet purchased are free(no fees whatsoever).

I see they now have an Android app that can produce a security token instead. Perhaps just inquire about that.

 

[Magandroid]

On Saturday had time to open an account with Capitec at first was very skeptical to open an account due to FICA documents etc, walk into the branch with my passport, original rates and taxes at first I thought they would turn me away cause I had a South African Passport normally when I try get anything done at NedBank they want to see an original ID or Drivers license or refuse to help me which is ridiculous and unacceptable as it is proof of identity cause clearly on my passport there is an ID number... Upon entering their branch I have a nice feeling of welcome cause the environment is colourful, seats are comfortable and more than enough staff to attend everyone. Manager assists me cause she is standing by the issue/take (a) number machine, wants to see all the necessary documentation are in order before wasting their time if I don't have the supporting document needed - all in order. . Then she issues me a number takes about 2 minutes later they call my number and a consultant is assigned to me. She mentions the product, fees involved , very friendly consultant the best I have ever dealt with someone who loves her job and has a passion for what she does.
.
I didn't have to fill in any paperwork whatsoever, the consultant(admin work) captures/scans all the necessary documentations, 10 minutes later we are done but stay longer in the branch to add a supplementary card R40 cost...

Service is superb,the consultant told me they are already offering home loans in Johannesburg only and later this year they might introduce a credit card.

Only thing I didn't like about Capitec that they charge you every time you receive an SMS 40cents(cash deposit,cash withdrawal etc) ,going to go into branch and change the notifications amount which will be another cost R3 something

As a matter of interest, my SMS notification is set to R100 and I swipe for most everything. Even then my monthly bank charges only range from between R45 - R55. This is a third of what I was paying at the other bank before I moved over to Capitec 3 years ago and I am still quite happy. Also remember if you pay for goods by swiping there is no charge for the transaction.

 

[googoodoll]

Super happy with Capitec. My interest usually covers my bank charges more or less and the account is so easy and convenient. Never had hassles with them.

 

[oober]

I'm also happy with Capitec but the silly RICA/FICA requirements meant I spent about 3 hours in the branch to open an account.

ps. I had a look at a Money Market fund from AF I think. What does it mean if they charge you 0.25% per year? Is it 0.25% on the interest you made or on your fund value?