ABSA bank is where small businesses go to die

<p>I opened a business bank account with ABSA online and went to the Centurion Branch to collect my card. Less than 3 months after having opened this account, ABSA put a hold on my account . The reason given was that they needed to verify the source of funds that came into the account. This was the 17th of August 2016. ABSA contacted my client and verified the funds. My business banker got this information from investigators within ABSA that did the verification.</p> <p>Fastforward to the 26th of September 2016 I still cannot access my account. In the past few weeks it is alleged that ********** activity was taking place on my account. I sent an affidavit to declare that I have no knowledge of the transactions they are referring to. Today I have had to send confidential company information to ABSA so that they can have better knowledge of my company. I find this treatment appalling to say the least and I have to finance my company activities from borrowed funds because ABSA is holding on to my funds that they have verified. </p> <p>I have been more than patient with this institution and want them to release my money and close the account. The hold on the account is strangling my business. When I call or visit the relevant ABSA representatives I get promised that this will come to an end but it is still carrying on until today. I regret the day I started a relationship with this anti-small business institution. </p>