Absa not resolving query on lower interest rate paid on investment, than the rate advertised.

I would like to tell my story about Absa not acting in the best interest of their customers. Watch your investments and the interest they pay. Here are excerpts from my query:

Hello Peter post: 27 July 2018

I invested money in a fixed deposit. According to Absa the product was outdated and they therefore did not pay the interest on the account as advertised on their website, but approximately a third less. I sent several emails (more than five) requesting an investigation and printouts of the interest given on this account, but only received a curt PR response and thereafter silence.

I received replies from Absa, but they did not resolve the query. Several emails were sent.

Hello Peter post: 4 September 2018

After my previous post on Hello Peter, an Absa representative refused to reply to my request for information on the interest paid on these accounts. They falsely stated that they had rep****. After I sent repeated emails referring them to my request that followed a very dismissive message from them - total silence. It is as if I do not exist. Surely I have the right to information regarding my investments?

Unfortunately I cannot find my correspondence from 2019.

Hello Peter post: 9 November 2020

It has been two years and still the matter has not been resolved. Absa makes it too difficult to obtain information, or do not provide it, or stonewalls the process or just does not respond. It is my expectation that Absa provides me with information on the interest they paid on my investment as well as the reasons for me being paid a much lower interest rate as the one advertised on their website. This is how they treat their clients and they are well aware of the fact that normal people cannot afford to take legal action in these matters, mainly because of the costs involved. Absa of course can afford a whole panel of legal experts, paid for by the money they do not pay out in interest, to clients who are rightfully entitled to it. I saved up for years and my elderly parents also helped to save for my children's education and I entrusted this money with Absa, only to find out that they do not act in good faith.

In the interim, Absa sent statements of the investment accounts to me, but did not address my query on why these investments received a lower interest rate. I sent a follow up email to Absa - *** - on 28 March 2021, as well as the representative I had been corresponding with previously:

I have had no feedback since November 2020, therefore I am lodging the complaint again for 2021.

Surely someone could have figured this out by now?

Please get back to me. My work email is ******** (please cc me in on that email, since I am on it daily) and my numbers are *********.

I refer you to your values: “We are obsessed with the customer. We are curious we anticipate the customer’s needs. We each take ownership of delivering the “One Absa” customer experience. We outperform by going beyond customer expectations.”

It was my reasonable expectation that you would inform me of changes in the product. Note that the name of the fixed deposit did not change, only your interest rates. I will not let this go.

Your urgent attention will be appreciated.

The following response was received on 29 March 2021

Dear ******** (addressed to the wrong person)

We refer to your complaint (C-***1). I am currently investigating your complaint and will contact you within 2-3 working days.

I have had no response since.