AF
Annelle F

1 reviews | Active since Jul 2018

04 Sept 2018, 23:40

Absa refuses to provide information on investments.

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 According to absa the product was outdated and they therefore did not pay the interest on the account as advertised on their website, but approximately a third less.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.

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?

0
Replies (4)
Absa
Absa's reply11 Sept 2018, 10:25
Official

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback once matter has been resolved.

Kind regards
Daphne Le Grange
Group Customer Care
Absa Bank Ltd

Absa
Absa's reply11 Sept 2018, 11:28
Official

Hi Ms Flanagan

My name is Daphne Le Grange. I will facilitate the resolution process for you. Your complaint reference number is *** Progress will be provided within the next 2 working day. Please feel free to contact me on ***. Alternatively reach me at *** if you are unable to get hold of me on the number provided

AF
Annelle F's update09 Nov 2020, 13:36
Reviewer Update
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.
Absa
Absa's reply11 Nov 2020, 06:08
Official
Dear Annelle Flanagan
 
We acknowledge receipt of your posting
 
Your further  concern will be reviewed.
 
Your complaint reference number is C-***5
 
Regards
 
Daphne Le Grange