ABSA - no thanks

I have been on a premium bank account for almost 5 years and a client at Absa for more than 10 years.

This month I had an experience where I was charged R150 per transaction for two simultaneous debit orders that did not go through. I understand that I must ensure that there are funds in my account, however, the moment I got the notification that my debit order bounced, I paid funds into the account. Only for those funds to go towards an exorbitant transaction fee.

Upon enquiring this, I was told by the "investigator" that they have a policy in place that for your 4th missed debit order in a 12 month cycle, you get charged R150 onwards.

This is blatant *******. Are you telling me that you can only have 3 debit orders bounce back in a year before you are being charged more than the actual debit order itself?

I am using a premium account that I am, guess what, paying large amounts for. So Absa decides to further exploit their paying clients with large transaction fees just because they seem to be able to afford it?

Absa is very quick and urgent on sending promotional emails, SMSes and notifications, but you are telling me you cannot at least warn me after the third instance that from now on, I will be charged outrageous fees? Simple client service goes a long way.

Further, after logging a complaint, the solution Absa provides me is to choose a cheaper banking option so that the charges are not that big. Wow, thanks for allowing me this opportunity!

I am considering your suggestion Absa, I will gladly take my business to a different bank with better options and fair fees. If you choose to have exploiting amounts for transaction fees, I no longer want to have you look after my finances.