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Listeners solve puzzle of queues at Capitec ATMs while cheaper option available

17 November 2021 8:50 PM
Tags:
Banking
The Money Show
Pick n Pay
ATM
Shoprite
Capitec Bank
Capitec
Checkers
Wendy Knowler
cash
Boxer
consumer issues
Bruce Whifield
drawing money
ATM queue

Wendy Knowler comes up with answers after delving deeper into the strange phenomenon of Capitec's long ATM queues - The Money Show
© belchonock/123rf.com

Consumer journalist Wendy Knowler recently raised the subject of Capitec's long ATM queues.

"We were perplexed, as was Capitec."

Knowler wondered why so many of the bank's clients are opting for ATM cash withdrawals when not only is this time-consuming but Capitec charges the highest fees - R7,50 per R1000.

And a cheaper, safer and more convenient option is available:

If they had to draw money at the till point of Shoprite, Checkers, Pick n Pay or Boxer supermarket - having queued to buy groceries - it would cost them a flat fee of R1,60.

Wendy Knowler, Consumer journalist

Capitec responded to her queries, saying the bank itself would like, and encourages, clients to switch.

RELATED: Capitec has highest number of ATM complaints, so why are their queues so long?

This week on The Money Show, Knowler shares the experiences of two listeners who shed some light on the puzzle.

It's to do with having to spend money at one of the participating supermarkets in order to be able to draw cash and being given the runaround when trying to draw cash at the participating supermarkets.

The cashier cannot just open the till when you request money, they tell you to also buy something so that they can open the till.

LR Malele, Capitec client

Many Capitec clients who have minimum income shop at shops like Shoprite, Boxer, and requesting R1,000 cash back from such retail cashiers is like you've asked for a million. You get attitude or you're sent around all the tills, but most often you will not get that amount at such retail stores, so people would rather stand in long queues than deal with cashiers requesting your own money.

George Gumede, Capitec client

Capitec Communications Head Charl Nel agrees that some supermarkets expect you to make a purchase in order to withdraw from your bank account.

He says the best option is still to do it with your shopping.

Regarding the complaint about being given attitude by cashiers, he acknowledges that when a cashier's float is low a client will be asked to go to another till.

Nel promises to get feedback on this problem, saying it should only occur when a till has just been opened.

For more from Wendy Knowler, take a listen:


This article first appeared on CapeTalk : Listeners solve puzzle of queues at Capitec ATMs while cheaper option available




17 November 2021 8:50 PM
Tags:
Banking
The Money Show
Pick n Pay
ATM
Shoprite
Capitec Bank
Capitec
Checkers
Wendy Knowler
cash
Boxer
consumer issues
Bruce Whifield
drawing money
ATM queue

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