On Friday morning, Capitec customers were shocked to get notifications for deductions that they knew nothing about. The bank said it was a “technical issue.”

While some people went into panic mode and warned others to withdraw their money, others were angry that money had gone from their savings accounts. Some said they had stopped their cards, suspecting fraud.

In a tweet, Capitec assured customers that it was working on the problem.

“We are aware of a technical issue between us & another bank that has caused Capitec clients who transacted on this bank’s card machines to be double deducted. Our IT team is working to rectify the issue. The transactions will be reversed within the next 24 hours.”

The other bank is yet to be named.

Capitec bank apologised for the inconvenience and plans to communicate directly with affected clients.

Customers were not happy though:


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