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Both banks have promised that the problem would be solved within 24 hours with the return of the funds to those affected.
Nedbank sign. Image: EWN
JOHANNESBURG – Banking group Capitec said it was working with Nedbank to reimburse thousands of customers who experienced unauthorized payments from their accounts following a technical failure in Nedbank’s card processing system.
The technical error in the Nedbank system affected the billing of thousands of customers.
Both banks have promised that the problem would be resolved in 24 hours with the return of the funds to those affected.
Nedbank said its system was responsible for clients having double deductions.
He said the cause of the additional payments came from a transactional file from Monday that was accidentally processed on Friday.
Capitec’s Charl Nel said they were working around the clock to fix the problem, which left some of their clients puzzled.
“We are working with Nedbank to resolve this issue and get the money back in customer accounts within the next 24 hours.”
The Financial Sector Conduct Authority said it would review banking sector systems and processes to prevent such cases from occurring in the future.
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