Capitec soothes hacking fears

Their systems failed though, I know someone who received 500 and spent it. They of course want it back
 
when i read the article on news24 it struck me that some of the clients are blaming capitec because they overspent. if u have amount X but keep on spending you should blame yourself.

also strange that such alot of retailers waited so long to collect their money. this time of the year they usually do it quick to ensure you have the funds to pay.
 
A lot of clients were double-billed, so this was not just a simple case of merchants leaving their banking till late. There's definitely something that went wrong on Capitec's side. I doubt it was a genuine hacking attempt though, more likely it was a system error on their side.
 
The problem here that I and many other people experienced was that we are using a DEBIT card and as such when you transact and enter a pin, you expect the money to go out directly.

I transacted on the 16th of December at two stores - cash back at a checkers and payment at a jewelry store...both debit transactions on my global one card and pin authorised. I received the sms's that money was taken out. All good.
Yesterday morning received two sms's that those exact amounts were taken off again.

Go to bank and it checked my statements - on the 16th no money actually left my account, yet I received those sms's stating money left.

Now for me it was not a big deal...but for other people it was. The main gripe here is the fact that it's a damn DEBIT card meaning immediate payment...no money in account...no pay etc.

EDIT: As for the apparent double billing - per your sms's it will definitely look like your are doule billed. On the statement you will see no money left on the date of the original transaction.
Not saying that there weren't genuine case of double billing, but most often than not people just used the sms's as proof and not the physical statements - was the case for 20 odd people at the bank yesterday morning with me.
 
deweyzeph said:
A lot of clients were double-billed, so this was not just a simple case of merchants leaving their banking till late. There's definitely something that went wrong on Capitec's side. I doubt it was a genuine hacking attempt though, more likely it was a system error on their side.
Click to expand...

yeah they do an inital reserve when the transaction goes through but capitec messed up when they took the funds out. another sms and in some cases an additional amount. some honesty from their side would be appreciated though. seems like their "it wasnt us its them" epxlaination doesnt sit well.
 
Orihalcon said:
The problem here that I and many other people experienced was that we are using a DEBIT card and as such when you transact and enter a pin, you expect the money to go out directly.

I transacted on the 16th of December at two stores - cash back at a checkers and payment at a jewelry store...both debit transactions on my global one card and pin authorised. I received the sms's that money was taken out. All good.
Yesterday morning received two sms's that those exact amounts were taken off again.

Go to bank and it checked my statements - on the 16th no money actually left my account, yet I received those sms's stating money left.

Now for me it was not a big deal...but for other people it was. The main gripe here is the fact that it's a damn DEBIT card meaning immediate payment...no money in account...no pay etc.

EDIT: As for the apparent double billing - per your sms's it will definitely look like your are doule billed. On the statement you will see no money left on the date of the original transaction.
Not saying that there weren't genuine case of double billing, but most often than not people just used the sms's as proof and not the physical statements - was the case for 20 odd people at the bank yesterday morning with me.
Click to expand...

my debit card with standard works the same. the amount is reserved. then depending on the retailer is processed during the next 2 weeks.
 
akescpt said:
my debit card with standard works the same. the amount is reserved. then depending on the retailer is processed during the next 2 weeks.
Click to expand...

Now that is interesting...I have never experienced that. If it's a thing...then fine...but I was always under the assumption that a debit card was an immediate eft.

Thank you for the information.
 
I wonder if its just the Mastercard and not the Meastro debit cards affected? Mine not affected but then again I didn't use my card during that time.

And as per their facebook statement the late transactions seems to come mainly from one bank.
 
Last edited:
Orihalcon said:
Now that is interesting...I have never experienced that. If it's a thing...then fine...but I was always under the assumption that a debit card was an immediate eft.

Thank you for the information.
Click to expand...

As far as I know, credit cards are instant (unless the merchant runs that "offline" mode) aren't they?
 
AFAIK all banks have the concept of Available Balance (thats the funds available where authorisations have been reserved but not debited from your account) and Latest Balance (thats how much you have in your account and it does not take reserved authorisations into account). So someone had 10K in their account around 15.12., then spend 8K (which Capitec reserved) and two weeks later those 8K authorisations got cleared (as ABSA seem to have not passed on the debits in time). Then people decide "wohooo" let's blow another 8 grand and now complain that the actual debit had been passed.

Pretty much sounds like "I am not going to pay for electricity if I dont receive an invoice".

Am I getting this wrong? To me it sounds like basic lifestyle management - surely you should ask yourself why your affordability is all of a sudden so good - or? I seriously doubt that people can be so uneducated to not get it (especially since those people have internet access and can complain about it on Facebook)
 
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