Capitec soothes hacking fears

Capitec Bank has allayed fears that it has been hacked following complaints by numerous customers over the weekend who pointed to irregularities on their account.

The bank explained that some merchants banked their Point of Sale Machines late which meant that deductions due in December were only effected on Sunday (6 January).

“This meant that purchases done earlier only reflected on some clients’ accounts today. There is no way to force merchants to bank their machines daily. Machines can be linked to any bank,” Capitec said in a statement on Sunday.

The bank added to that statement on Monday (7 January) with a statement of apology.

“Please accept our sincerest apology for the late deduction of purchases made at Point of Sale machines earlier in December. We are investigating why these deductions were only presented for processing over this past week-end.

“We accept that this issue will inconvenience our clients and we request clients to verify on their statements that these amounts did not go off twice from their accounts. Please be assured that we are fully aware of the frustration to those clients affected and we are liaising closely with the other bank who represents the bulk of these late merchant transactions. Once we have full clarity we will communicate with those affected, individually.”

Capitec clients vented their frustration on Facebook. Eddie Mashego said: “Bad PR exercise Capitec…I will weigh my options as to whether I continue entrusting u with my finances or not.”

Steph Hartung was more forgiving. “Cool no problems thanks for letting us know…these mistakes happen,” he wrote.

In September, Capitec reported a healthy rise in customer numbers (31%) in interim results for the six months ending August 2012. The group added an average of 90,000 new clients per month, to a total of 4.2million.

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Capitec soothes hacking fears