Absa Accounts for Minors

I went to Absa this morning for another attempt at opening an account for my minor children after having been sent away yesterday. Apparently a South African government issued passport with all of its security features is not good enough for Absa to open a children’s savings account.

So this morning, I arrived with passports and unabridged birth certificates in hand. After an hour of the consultant tinkering around, she informed me that I cannot open an account for my step-son as I do not appear on his birth certificate. This is simply **************.

Furthermore, after waiting for another hour, the system froze and the consultant had to begin scanning the many documents that Absa requires from the beginning.

I have been a client with Absa for 20 years. I have made the decision to remove my account, credit card facility, Private One facility, insurances and will from Absa. I will be doing this over time as is convenient for me.

Absa’s policies make this bank more bureaucratic and unpleasant to do business with than is tolerable. I suspect that in years to come, only after losing significant market share to other more competitive banks, will Absa realize their folly.