1 reviews | Active since Feb 2018
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.
