1 reviews | Active since Jul 2011
ABSA unable/unwilling to give person internet access to their money
Multiple calls to the call centre and visits to different branches has shown that ABSA is unable or unwilling to provide assistance outside of their "template answers" and no-one will will go out of their way to help find a solution.
This is wanted: Party in UK wants money from (to be closed by ABSA) money market fund to be available in a new ABSA bank account in their name. This new bank account must allow for funds (as needed) to be paid to their UK account via internet banking or to be withdrawn in the UK via a bank card.
The problem 1. Party in UK notified by email of Money Market Fund account closure but they're unable to do anything without internet banking, and cannot get internet banking without a bank card and ABSA won't send bank cards to their UK address or to a ZA address of someone else. Party in UK has access to a ZA phone number so this isn't a hinderance to internet banking but ABSA can't handle a UK address with a ZA phone number. 2. Party in UK told by ABSA call centre that ABSA won't accept written or telephonic instructions regarding Money Market Fund account closure, they will only accept instructions received via internet banking or verbally at a branch by account holder or someone with power of attorney on their behalf. 3. ABSA will not allow funds from force closed money market account to be paid to an account in different account holder name, regardless of whether this is an ABSA or non-ABSA account in ZA. 4. ABSA will not allow funds from force closed money market account to be paid into an account in the same person's name where the account is in a different country. 5. ABSA will allow UK party to create another bank account via the internet, but will not be able to give them access to this account via the internet because ABSA cannot deliver a bank card to the UK (card needed to create internet banking profile).
What we've tried 1. There is a power of attorney from the UK party for a ZA party to act on their behalf, but ABSA doesn't accept it because both parties need to appear in person in a branch together. Irrelevant to ABSA that both parties are in different countries and UK party cannot travel to ZA. 2. Without POA registered, party in ZA cannot do anything to assist party in UK.
What we've been told after calls to call centre from both parties plus from visits to different ranches by ZA party: Don't worry, money will be transferred as per default route if no instructions received otherwise, and one day when UK party is able to visit ZA they can come to a branch and get access to their money. They won't get a bank card because their address isn't local and thus cannot get internet banking but will be able to close the account. In the meantime, don't worry, your money will be safe at ABSA.
To me this is utter garbage that a bank can refuse someone access to their money simply because their "customer service" staff are too lazy or too bound to template processes and answers that they are unable or unwilling to help determine a solution.
If anyone can suggest a solution, please respond on this review, and thanks in advance for any help given.
The complaint reference is redacted and I've had no SMS, WhatsApp, email or telephone contact as indicated above. I trust you are still investigating and will contact me with a solution.
The complaint reference is redacted and I've had no SMS, WhatsApp, email or telephone contact as indicated above. I trust you are still investigating and will contact me with a solution.
For anyone in a similar situation the best I can suggest is to persevere until you get an ABSA person who is willing and able to help you with the journey as your direct ABSA contact. They're scarce but do exist.
After getting "our person" the only other challenge was the type and format of paperwork required where
(1) ABSA required physical items (paperwork, signatures, affidavits) whereas the UK works electronically and thus getting some of the physical requirements complete in the UK during covid restrictions was an issue.
(2) ABSA didn't have "fit to case" forms and thus multiple forms had to be complete to see which would be accepted, and there was a lot of duplication across the paperwork . "Our ABSA person" explained and apologised about this as he was equally constrained on his side.
(3) Paperwork expired and needed to be resupp**** on more than one occasion, e.g. bank statements, FICA documentation, affidavit, ABSA forms.
For anyone in a similar situation the best I can suggest is to persevere until you get an ABSA person who is willing and able to help you with the journey as your direct ABSA contact. They're scarce but do exist.
After getting "our person" the only other challenge was the type and format of paperwork required where
(1) ABSA required physical items (paperwork, signatures, affidavits) whereas the UK works electronically and thus getting some of the physical requirements complete in the UK during covid restrictions was an issue.
(2) ABSA didn't have "fit to case" forms and thus multiple forms had to be complete to see which would be accepted, and there was a lot of duplication across the paperwork . "Our ABSA person" explained and apologised about this as he was equally constrained on his side.
(3) Paperwork expired and needed to be resupp**** on more than one occasion, e.g. bank statements, FICA documentation, affidavit, ABSA forms.