ABSA cheque control system failure

I had many transactions on my cheque account that were in the pending status for months without being paid. Some up to 6 months. As normal with pending transactions money was reserved for these transactions. However on the 11-10-2017 all the delayed transactions was paid, not from the reserves, but from my current amount available. This cause my account to goes to R48 000 in the red. I don’t have an overdraft agreement on my cheque account.

All the transactions that is in pending status should have reserves available, That is the difference between balance and amount available. The amount available is what you can spend. However when this 73 transactions came through it was deducted from my amount available. What happened to the money that should have been reserved for pending transactions? If you don’t have overdraft agreements you cannot go in the red. There should always be money reserved for pending transactions.

All the 73 transactions were indicated on the statement with an effective date of 11-09-2017. This is bull****! It was transactions over the past 6 months that was never paid.

The branch could not help me with this critical issue and have to email their head office which have a turnaround time of 48 hours. ABSA bank have a major system failure and there is no direct line to inform them! Ridiculous. This will result in major reputational damage for ABSA if they don't act quickly.

And what do we do? Your next month's income is gone, not being able to pay the debit orders, additional costs added, personal credit rating issues and who cares? NOT ABSA!