ABSA NOT ADHERING TO THE REGULATIONS OF FSCA

On 9 March 2011 I forwarded correspondence to add both my parents as additional members to a funeral policy I already had with ABSA as well as to increase my benefit on the same policy . Only one request was forwarded to ABSA with all the instructions listed an not numerous requests. No correspondence was received back from ABSA and when I checked my account statements, the premiums on the policy did increase. I figured all the instructions that were submitted to ABSA were successfully processed and the policy was accordingly updated, as indicated by the premium increase. Last year my father passed away and upon submitting the claim against the funeral policy, I was notified that ABSA only attended to a part of the requests and not everything. At no stage did ABSA confirm that they failed and or just refused to attended to the all the listed requests and just blatantly stated that I cannot submit a claim on for my father. All correspondence showing the request to ABSA was forwarded to ABSA, but up to date, ABSA still fail to address the query or confirm why only part of the request was handled. For years I have been paying the increased premium unbeknown to me that ABSA only attended to the increase benefit and added my mother without adding my father as instructed.

Since October 2018 I have queried this with ABSA and TEN months down the line I am no closer to any answers from this "professional" finance institution. As an ABSA client and employee it saddens me that that they do not adhere to the TCF (treating client's fairly) outcome as regulated by the FSCA. I hope this can be attended to and finalized as soon as possible.