1 reviews | Active since May 2015
I have multiple home loans with Absa, both with a flexireserve facility. This is the only reason to keep the accounts active as the outstanding amounts are carefully controlled. In effect the properties are paid off and regular transfers are made to and from the accounts. They also have a monthly premium in excess of what is required in place. I tried to access the oldest account (40 years) to transfer money. The flexireserve facility was locked. 4 agents later, none of whom could initially see this specific account for one or or other reason, explained that it is due to my external property insurance not loaded/recognised/received. I have to submit this annually. I have done this for the past 5 years with an inflation related value increase every year. This year I was told that an Absa evaluator must visit the properties to see if the coverage is adequate. This was 6 months ago and nobody contacted me again. Strange enough all properties are covered by the same external provider but the other flexi reserves can be accessed. No further notification was given to me. Up to 5 working days might be needed to lift the block I was told. And then the agent asked to rate their service! Absa, this is not on! Please get your house in order.
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