ABSA is a Underhanded bank

In January 2025, I approached ABSA directly with the intention to increase my existing bond. My application was declined on the basis that my affordability did not meet your internal criteria. In an effort to pursue this further, I then enlisted the services of OOBA, a reputable bond originator, to re-apply on my behalf — again with ABSA. Unfortunately, their attempt was also unsuccessful, and I received the same response regarding affordability. Having exhausted all reasonable efforts to remain with ABSA, and being left with no alternative, I decided to approach SA Home Loans. My application with them was successful, and they agreed to take over the bond. After this process, I was then informed by ABSA that I would be penalized for not giving three months’ notice before the bond cancellation — a penalty equating to three months’ interest, calculated daily until the bond registration is complete with SA Home Loans. This outcome is both frustrating and disheartening. I have been a loyal client of ABSA for over 15 years, and I believe I have shown due diligence and good faith by first attempting not once, but twice, to resolve my financial needs with your institution. Your repeated refusals effectively forced me to seek financial relief elsewhere — a decision I did not take lightly. It is wholly unjust for ABSA to now impose a financial penalty on me when the sequence of events clearly shows that your refusal to support my bond increase led to this outcome.