IS
Igshaan S

1 reviews | Active since Feb 2018

29 Jun 2022, 00:08

ABSA Freezes Bank Account Without Any Notification Because Of FICA

Early in May 2022, I received an email from my bank manager regarding FICA regulations. I then emailed my bank manager a few days later with a latest copy of our municipal account for our Body Corporate Trust account. The same ABSA bank manager has visited our building a few times to get papers signed. I also called him to confirm whether he has received my municipal account. He also has copies of our ID documents of both trustees. Then on Thursday 23 June, we were unable to make payments on bank account. When I visited the nearest ABSA branch, I was told our account is on hold because of FICA. My bank manager promised that it would be sorted out over the weekend. Then on Monday 27 June, I visited the ABSA branch in Claremont and spent more than 2 hours there waiting for them to sort out our bank account. Up until today the 28 June, we still unable to pay salaries or service providers because our account has been blocked. This is unacceptable service from ABSA. After I emailed ABSA a copy of our municipal account and after I called bank manager, I did not receive any further notifications that FICA was not accepted. Our bank account was simply frozen without any notification. ABSA did not question whether FICA was even necessary or even if their own staff was inefficient in update their customer's bank accounts. So now we have to suffer because of their inefficient staff. In the past I had endless problems with their internet banking service where you have to constantly visit a branch to activate their bank app. Also sometimes you try to withdraw money at ATM, then you receive slip that transaction was unsuccessful and you have to wait 24hours for money to bounce back. I understand that sometimes bank managers are overwhelmed with their workload and their forgot to update customer's bank accounts. I can accept a mistake. But I am now waiting more than 4 days for them to unblock the account. Everyday I get told our bank account will be active in next few hours. Looking at the other complaints on this website regarding similar issue with FICA, I have noticed that some customers mentioned that they have been waiting for weeks for account to be active again. This is the last straw. Tomorrow I am visiting another bank, maybe FNB and switching all my personal, business and all ABSA accounts to another bank. This is truly pathetic service. Blocking bank accounts for FICA is reserved for ********* with suspicious activity in accounts. Our bank account for our body corporate has very little funds and its not even applicable to us, because the bank have all ID documents of trustees and they even visited property. Its sad that after being with ABSA for almost 30 years, that I now have to leave and join another bank. But I think this is best. I have given up on ABSA sorting out their problems.

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Replies (3)
IS
Igshaan S's update21 Jul 2022, 21:10
Reviewer Update
Today is 21 July and I am still waiting for ABSA to sort out this bank account. I am unable to do payments or link my iphone to the account. It was linked before and ABSA unlinked me. Remember I even took off from work on three separate days to visit their branch and sort this out, but until now, I am not able to access my bank account. I called bank manager twice already this month to inform him that I am still blocked from the system and he keeps saying he'll come back to me. Even If I don't like it, I have no choice but to visit another bank and close all my ABSA accounts. I read on this page that other ABSA users waited three months for their bank accounts to be sorted out. This is not acceptable. I have been extremely patient with ABSA, but this is the final straw for me.
IS
Igshaan S's update25 Jul 2022, 15:56
Reviewer Update
ABSA still has not sorted out this problem. Their staff in the bank says our bank account was blocked because of FICA, but up until now, nobody has request any documentation from us. If they request FICA documents and we refused to supply, then I will accept if account has been blocked. But ABSA blocked our account since 20 June and up until now has not requested anything from us. Our bank manager told us, our account was blocked in error, but I have no idea why they taking more than a month to unblock it. ABSA is incredibly inefficient. How can they expect us to continue banking with them. It seems this account will never be unblocked. I will have to pay staff salaries again this month from my personal bank account. I will most likely recieve a third reference number from ABSA with regards to this complaint, but the problem will remain unresolved. There is simply no service from ABSA. Pathetic Bank.
IS
Igshaan S's update01 Sept 2022, 20:24
Reviewer Update
We now going into September and we are still unable to make payments or access our bank account. Every month, when I call ABSA, they apologize and then the accounts works maybe for 1-2 weeks and then it is blocked again because of FICA. But ABSA does not request anything or give a warning they going to block our account. This is now getting ridiculous. You are forcing me to close all my bank accounts and move to another bank. I should have done it back in May when this started.