CK
Christopher K

1 reviews | Active since Mar 2012

04 Oct 2018, 11:25

Absa Credit LIfe in contradiction with FSB requirements!

On the 01/10/2018 I noticed a charge for a Credit Life product which had never been there before suddenly start to deduct from my Credit card.

Startled by this I went into my branch and arranged to call the Absa Crerdit Life department and I was unceremoniously told that I would have to send a written request along with a certified copy of my ID for the product to be cancelled. Under protest I comp**** and sent in a written request along with my account number as the subject of the e-mail and a certified copy of my ID.

I am now horrified to discover that further paperwork is required of me which requires me to among other things provide the policy number!

Absa did not consult me to add this product, Absa did not get my consent to add this product, Absa has not even furnished me with policy documentation which would show a policy number, Absa misled me into believing that I had fulfilled my obligations when I provided my written request to cancel the policy upon my initial inquiry, Absa have failed to comply with FSB regulations that all information be provided upfront and in full, Absa has **********ly added their own financial product to my portfolio without my knowledge or consent!

Any further attempts made by me to cancel this product and respond to the e-mails that Absa have sent have been automated responses signed by one Refiloe Tshukudu with the same cancellation form requesting information from me which I do not possess because Absa has failed to follow the laws and regulations set out by the FSB in relation to the selling and implementation of a financial product of this nature!

I have lost all trust and confidence in this financial supplier to treat me fairly in accordance with the laws that are set out which are meant to protect me as a consumer/client.

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Replies (1)
Absa
Absa's reply04 Oct 2018, 13:58
Official

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback once matter has been resolved.

Kind regards
Daphne Le Grange
Group Customer Care
Absa Bank Ltd