RM
Richard M

1 reviews | Active since Jan 2017

03 Sept 2020, 10:04

ABSA - a bureaucratic mess!

When my mother passed intestate in 2004 my two brothers and I decided to forgo our claim to our portions to her estate. We had a sister who was mentally challenged and institutionalised. We agreed to leave the money in an investment with AIMS (ABSA) as it was my late mother's bank. We took advice from AIMS who took the money and created an investment in our sister's name and made the three brothers beneficiaries should she predecease us. Sadly she passed away in June 2020. I contacted ABSA who referred me to Anna-Marie Schultz of AIMS. She asked for relevant documentation to close out the investment and to pay us out each a third of the current value of the investment. After prompting she told me that it would take three weeks to finalise and pay out. Well, the three weeks has come and gone and no payout. I finally managed to contact her and she tells me that there is now another document to get to get paid out expeditiously, a letter of curatorship. This has never been on the cards and it seems that AIMS will continually throw stumbling blocks in the way to avoid paying this money to its rightful recipients. ABSA's customer complaints service has yet to respond to my complaint logged with them

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Replies (1)
Absa
Absa's reply03 Sept 2020, 12:03
Official
Dear Richard, Thank you for bringing this unfortunate matter to my attention and please accept my sincere apology for inconvenience caused. Your case reference number is C-***5 . I will review the matter, and provide you with an expected timeframe for further feedback within the next hour.  Kind regards,
 Basani Hlungwane
 Group Customer Care
 Absa Bank Ltd