So I went to Capitec

[FlashSA]

Did instant transfer from website today to my FNB account, shows correct reference for payment as entered on the Capitec website.

I have a code dongle so no app usage for me.

My bad, I thought it was you who had the reference issue.

@Cavedog, did you use App or Web?

 

[cavedog]

My bad, I thought it was you who had the reference issue.

@Cavedog, did you use App or Web?

I used the web and paid to a ABSA account like I do every month and did not change the reference as it is save. Paid 9 months like that never had an issue until I used the Pay Immediately option for R10 then they say the reference was not carried through to their statement.

So people on Capitec paying to ABSA should confirm.

 

[Ray7905]

Yes. When doing an instant EFT from any bank, the reference gets a bunch of numbers added on the recipient account statement.

 

[supersunbird]

Yes. When doing an instant EFT from any bank, the reference gets a bunch of numbers added on the recipient account statement.

You mean instant payments from any other bank to ABSA?

 

[Ray7905]

You mean instant payments from any other bank to ABSA?

In my experience, from any bank to any bank. Every instant EFT I’ve done between Absa, FNB or Capitec (wife’s account) doesn’t preserve the exact reference. Always has had other junk added.

 

[Ray7905]

Example 1:
From FNB to Capitec. The reference was “Deposit”. What appeared in statement, see below.

160368FE23 was added before Deposit.

Example 2:
From FNB to Absa

I’ve blacked out the reference I used. But as you can see below...

EFTBBC378NLRD002/ was added before the Terence I typed in on IB.

Every instant EFT gets some additional reference added on the recipients side. Which is why I never pay accounts using instant EFT as normally their computers (automated systems) don’t pickup the payment.

 

[supersunbird]

In my experience, from any bank to any bank. Every instant EFT I’ve done between Absa, FNB or Capitec (wife’s account) doesn’t preserve the exact reference. Always has had other junk added.

Well, my instant payment to FNB has the exact ref name as per entered into Capitec, so that must be an exception.

 

[Ray7905]

Another thing. If you pay TO Absa or Capitec. Normal EFT. The funds appear in the Absa or Capitec account the same day, usually after 8pm if you pay before 3pm.

However, if you pay to an FNB account before 3pm, the funds will only appear after midnight, or after 5am the next day.

 

[supersunbird]

Wait, I see what you mean:

Date Description Reference
26 Oct 2017 SSB Capitec 4ad6869a68

The solution is easy then, do not use instant transfers for such things, Capitec shows in day anyway normally.

 

[Ray7905]

Yup. Capitec EFT’s 99% of the time are sane day. Likewise Absa EFTs as well.

 

[Ray7905]

I now realize why you can’t always choose instant EFT when paying a preloaded or public recipient.

 

[Swa]

So we finally get instant eft and it's almost useless. We really need an overhaul of our banking systems.

 

[supersunbird]

So we finally get instant eft and it's almost useless. We really need an overhaul of our banking systems.

Useless for paying things that don't need instant payment anyway.

 

[cr@zydude]

Poor set up with Capitec. If you set up a future dated payment it shows up as a recurring payment on your statement. They have the same cost, but it was hell of a scary when I first saw a payment listed as recurring. Capitec branch staff don't seem to understand the problem. I assume ot has something to do with future and recurring payments being linked on the app.

 

[Swa]

Yes well a recurring payment is probably multiple future dated payments. Would think they'd list them as different though.

 

[Ho3n3r]

Crazy delays on their app today. They seem quite overloaded.

 

[csmith23]

Anyone else being charged a life and disability insurance cover on their credit card?

I'm not from SA yet but I actually understand that one ) Basically at every billing cycle the bank insures your life for whatever amount is outstanding on your credit card, so that should you, like, die before the 20 days when you need to pay, your balance will be covered. But it's usually supposed to be something you chose when signing up for the card, so you should know ahead of time that the charge will exist. Not the specific amount because that depends on the outstanding at the end of every billing cycle.

 

[MoHaG]

Poor set up with Capitec. If you set up a future dated payment it shows up as a recurring payment on your statement. They have the same cost, but it was hell of a scary when I first saw a payment listed as recurring. Capitec branch staff don't seem to understand the problem. I assume ot has something to do with future and recurring payments being linked on the app.

It kind of makes sense - a future dated payment is probably implemented as a recurring payment with one recurrence...

 

[ponder]

I love this bank, had EMV errors tonight trying to pay a restaurant bill, called them and answered within a few seconds. Told them what happened and within a few seconds the lady apologised profusely and told me they picked it up on their side and the chip on the card is fscked and if I would not mind going in tomorrow to collect a new card. Also got a fnb account and out of all the banks I've ever been with this one has been the fastest & most efficient even in branch.

 

[Dean01]

Their call centre is very similar to Allan Grays in my option..fast and efficient