Money and Markets

FNB and Standard Bank clients were also charged twice after Nedbank glitch

Business Insider SA
  • FNB and Standard Bank clients were also hit by a glitch at Nedbank.
  • Clients who used Nedbank card terminals last week saw transaction amounts deducted twice.
  • Capitec clients already got their money back, but FNB account holders will only get reimbursed from Monday evening. 
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The fall-out from a glitch at Nedbank last week is continuing, with FNB clients only getting refunded after transaction amounts were deducted twice from Monday night.

Across South Africa, people who used Nedbank card terminals to pay for goods at various stores last week saw double deductions.

According to Nedbank, some transactions at these terminals on Monday 7 September were processed again by mistake on Friday, which resulted in amounts being deducted twice.

On Friday, Nedbank said that a group of Capitec clients and some of its own account holders were affected.

But on Monday, FNB confirmed that a small number of its customers were also impacted by “duplicate transactions for purchases made through another bank’s point of sale devices in the last few days”.

Netwerk24 reports that Standard Bank clients have also seen double deductions.

“Clients from other banks may have been impacted, but the majority were Capitec clients,” a Nedbank spokesperson subsequently confirmed.

A Capitec spokesperson said that its account holders already saw their transactions reversed, and that Nedbank also reimbursed clients for any related transaction fees.

FNB said that the money that was deduced from its clients should be reversed back into its customers’ bank accounts from Monday evening. The bank is communicating directly with its customers.

On Friday afternoon the Financial Sector Conduct Authority (FSCA) said it will engage with the affected banks "to review their systems and processes to avoid such instances occurring in the future".

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