Capitec Most Complained About Banks in South Africa, Customer Complaints Rose 11% in 2022

• Capitec has been dubbed the most complained-about bank in South Africa by the Ombudsman for Banking Services (OBS)
• Most of Capitec's disgruntled customers complained about mobile banking fraud and vishing
• Following closely behind Capitec is Nedbank, which received an average 1 508 complaints

JOHANNESBURG - Capitec has been handed the title of the most complained-about bank in South Africa.

This is according to the Ombudsman for Banking Services (OBS), which claims the bank received the biggest spike in customer complaints in 2022, TimesLIVE reported.

Reana Steyn of OBS said her office received 47 819 calls from customers complaining about the bank compared to 41 880 in 2021. Capitec's active cases a month averaged 1 424 in 2022, and grievances rose by 11%.

The majority of the complaints revolved around mobile banking fraud and vishing.

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Coming in a close second was Nedbank, for which OBS opened 1 508 cases, IOL reported.

South Africans shared other complaints about Capitec

Below are some comments:

Godfrey Mbhiza complained:

"Mina, I complain about 2 ATMs when they know they have lots of customers."

Thapelo T Selepe added:

"Capitec is no longer cheap."

Bukhosi Ncube griped:

"You go there on Friday, ATMs are said to be full, no depositing, Sunday you try to withdraw, ATMs are empty. Capitec is not good."

Richard Selepe claimed:

"Useless bank where fraudulent acts are happening."

Jack Turrok warned:

"Capitec is gonna go down, they're arrogant."

Ash Butau joked:

"Capitec customers are like that chick who always complains about the boyfriend but still goes to him. Soon after commenting here, they will gladly join the long Capitec queues, lol."

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Sandile Buthelezi chimed:

"My friend just lost some of her cash, but Capitec can't account for it. How pathetic they are, even on their app, the money doesn't show where it went."

Capitec reveals South Africans are getting poorer as incomes fail to match inflation, SA blames SARB and govt

In another story, Briefly News reported that new data from Capitec has confirmed what South Africans have been feeling for a while: citizens are getting poorer.

Capitec provides banking services to 20.1 million clients, over a third of the South African population. The bank says its clients became poorer in the financial year that ended in February.

This comes as South African income levels battle to keep up with rising inflation, News24 reported.

Source: Briefly News