ABSA systems designed to take advantage of clients

<p>I would like to ask ABSA why they automatically deduct all the premiums for home insurance in the beginning of the year and add this to the bond amount. This then forces the client to pay interest on the insurance as well as the bond amount. I am still in this situation and they are not interested in changing it, even though I don't owe them anything on my bond anymore. I am in the process of selling my house but ABSA will take the lump sum for next years home owners insurance in January, charge me interest on this and maybe refund part of the premium when they feel like it. The reason is purely because this is how the system works even though it does not make any logical sense.</p> <p>Another great service by ABSA. I would recommend that anyone with a bond arranged through ABSA, immediately arrange alternative insurance from another insurance company and save yourselves a fortune. Maybe ABSA would then be more inclined to listen to their customers.</p> <p> </p> <p>I will expect another "Thank you for talking to us, we will look into it" response but I hope this will make people look at their insurance and do something about it. Dont let them take more money from you that you do not have to pay.</p>