JK
Jason K

1 reviews | Active since Apr 2009

02 Oct 2015, 16:03

ABSA unable to administer the easiest of estates

My Mother passed away in April, and she left ABSA the executor of the estate, they have made so many mistakes on this estate ranging from missing a major portion of her investments (40%) with 2 well known banks (investec and Nedbank) to not understanding the process of administering the estate. I even got a liquidation and distribution account that had an investment on that did not exist. Staff changes happen and the process needs to restart (only after the staff member has left) They did not even know that they need to supply originals to the banks in order to get balances. They ignore emails with requests for information from the other banks and parties who are assisting in the estate. They only found out 6 months into the process that tax returns are needed before they can distribute funds. They do not follow up on communication they send to other parties, this has to be done by you. <br> <br> I have a colleague whose mother also passed away a few months before and he has informed me that he has exactly the same issues. My current thoughts are that the delays by ABSA are to maximise the interest they make off each estate and that *********** staff is part of their plan.<br> <br> Don't use ABSA

0
Replies (1)
Absa
Absa's reply05 Oct 2015, 10:55
Official
Hello jasonkir,

Dear Customer

Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards

Daphne Le Grange

Group Customer Care

Absa Bank Ltd