ABSA's slogan of "stewardship helping people achieve their ambitions - the right way" really means "we have no respect and integrity when dealing with clients".

During 2015 we purchased a property and ABSA granted a bond for the property, however, during a recent storm in Krugersdorp one of the boundary walls collapsed. ABSA Insure refused to pay for the collapsed wall and damaged electric fence as the wall is not built according to building regulations, but only informed us 4 weeks later, leaving our security exposed for this time. At the time when we app**** for the bond, we had to pay approximately R5,000.00 (if I remember correctly) for a valuation on ABSA’s instance and “request” and pay insurance for a year in advance (almost R8,000.00 which we had to include in the bond as we did not have the money to pay of these expenses) . When asking for a copy of the valuator’s report after ABSA’s refusal to pay for the damage, ABSA came with the excuse that the valuation is solely for internal purposes, and that it can't be used if there is a dispute about insurance, but if that is the case, why did I have to pay for it and not ABSA? My opinion is that ownership of the valuation report vests in me, yet ABSA shuns away from being transparent about the valuation and refuses to let me have a copy thereof, despite their attention being drawn to Section 32 of the Constitution and Section 33 of PAIA. I am apparently to lodge a complaint with the Ombudsman. The question at hand is why I had to pay for a valuation report which I am not entitled to see? What is the purpose of a valuation report if it does not take a visible (to the eye of an expert such as a valuator) defective boundary wall into account, which surely forms part of the value attached to the entire property? Should a lay person really be held accountable if existing boundary walls do not adhere to building regulations? Is ABSA’s refusal to hand me a copy of the report and payment of insurance a year in advance really fair, reasonable and justifiable? I think not. ABSA shamelessly exploited my need for a bond and now refuses to let me have what I paid for and I am not the only person who ever app**** for a bond at ABSA.