PP
Prem P

1 reviews | Active since May 2019

29 May 2019, 15:59

ABSA STOCKBROKERS RIPS OFF CLIENTS

I opened a TFSA account at ABSA STOCKBROKERS in which i had cash, when i want to xfer it to their bank and close the stockbroking account , the stockbroking side wants to charge me R200 for a tax certificate to move the money out ,is this fair? this was not communicated to me when i opened the account also they chaging abmin and brokerage fees on no transactions is this fair? , they say As of 1 April 2018 our price adjustment became effective which was communicated in March 2018. This price adjustment includes the transfer costs on TFS accounts, but looking the T&C nowhere does it say a fee of R200 to close a TFSA and move the money else where. Think twice before opening Stockbroking Accounts with ABSA not the best of people to deal with they have client consultants who do not know what they are talking about, how do they engage such staff

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Replies (1)
Absa
Absa's reply30 May 2019, 11:03
Official
 Dear  Prem Partab ,  Thank you for bringing this matter to our attention.  We sincerely apologies on any inconvenience caused.  Kindly provide our office with a id number or account number to ensure effective investigation and feedback

Regards
Daphne Le Grange