ABSA HAS NO transparency and commitment to fulfilling promises

Absa Bank's practices have been quite disappointing, to say the least. My grandmother held a transaction account with them, which included a R5,000 lump sum cover. However, upon her passing this year, when we filed a claim, it was rejected. According to the bank, she app**** in 2013, but the coverage only commenced in 2022.

I also hold a golden cheque account with a R20,000 lump sum coverage, but I'm concerned that I may encounter a similar issue in the future. I urge fellow loyal customers to exercise caution with this institution.

It was disheartening to learn that the bank misrepresented information when my grandmother opened her account. They now claim that the coverage was not part of the terms and conditions she agreed to back then. However, it is worth noting that such benefits are often not explicitly stated in the terms and conditions at the time of signing.

It's unfortunate that we have had this experience, and it raises concerns about the bank’s transparency and commitment to fulfilling promises.