Absa giving wrong information and withholding vital info to make you pay a full settlement of entire amount owed iso advising to give 90-day notice

Our email directed to Absa Head office and Ceo and Absa Ombudsman and still no reply. We have been battling to get the correct amount to settle and cancel the bond after 3 months we are told we must give 90 days' notice which we tried but not one person gave us information throughout the entire process of trying to get help. We only receive case numbers that end up to dissolve. We are in the process of buying a new property and Absa has been giving us the run around with false and incorrect information. they want us to settle the full amount outstanding of 231 months interest and withholding the info that if you give 90 days' notice you will only be penalised 90 days for early settlement. They claim hat they do not work like that they work on daily interest and calculated monthly and when you settle the entire 231 months must be paid.

In September 2024, my wife, a co-owner of our mortgage account (Account number: 80-9***), initiated contact with ABSA Bank to seek assistance. Regrettably, she encountered significant challenges as the bank failed to recognize her email and personal details. I, too, attempted to engage with the bank using my email account; however, my information was also unrecognized, resulting in our inquiries remaining unanswered. Subsequent to my wife’s initial communication, she submitted a follow-up email and was informed that it was necessary for us to complete a Know Your Customer (KYC) process. Upon fulfilling this requirement, I requested a telephonic consultation for further assistance; however, no response was received. Furthermore, my wife formally lodged a complaint regarding our experience. While her complaint received some attention, the underlying issue persists without resolution. On 15 October 2024, my wife visited the ABSA branch in Vredenburg with the intent of providing a cancellation notice. During her visit, she was apprised that a home loan specialist was not available at that location. Subsequently, ABSA contacted a home loan specialist, Makitzie, for assistance. My wife was informed that interest is calculated on a daily basis and capitalized monthly. Regarding the inquiry about a 90-day notice, Makitzie indicated that ABSA does not provide a 90-day notice for cancellation. On 9 November 2024, a representative from ABSA reached out to facilitate the opening of an account, which she successfully completed. I then inquired about the possibility of establishing a wealth account. In conjunction with the process of purchasing a new property, it was arranged for a home loan specialist to contact me on 13 November 2024 at 11:00 AM South Africa time; regrettably, I did not receive the anticipated follow-up communication. We also engaged a bond originator to assist us; however, they encountered similar obstacles with ABSA. After a waiting period of two to three weeks, we finally received a quote; nevertheless, the approved amount was notably less than expected, as other financial institutions had sanctioned the full 100% of our request. Upon discussing this matter with our property agent, I learned that there may have been a personal issue with the ABSA evaluator from Saint Helena Bay, identified as Danie or Dawie, who reportedly terminated a call with the property manager when she tried explaining that the interior fixtures would increase the value of the property, he only valuated the house without the interior fixtures. This situation has raised concerns regarding the rationale behind the lower bond approval amount that we received as all the other Banks provided 100% bond. In light of the continued inadequate service and lack of support, I made the decision to close my current account and cancel my card with ABSA , which I did. I experienced difficulties with the delivery of the card, and to date had no response as to where the card might be as it was never delivered, I was also told that I do not qualify to have Online Banking, I needed to link the newly opened cheque account to my home loan, no one could assist me with this too. Two months later, on 27 November, a private banker advised us of the requirement to submit a 90-day notice, which we duly completed. However, it is particularly disconcerting that, throughout the preceding two months, no staff member communicated this requisite to us. We had placed our trust in Makitzie’s guidance, resulting in considerable frustration due to the inefficiencies associated with the notice process. We hereby, due to the above-mentioned difficulties dispute the further wait of 90 days’ notice and request that it be calculated from our initial date of communication in September 2024.