ANSA Bond Premium increased without explanation - Extremely poor service received from ABSA in trying to resolve issue

I am so dissapointed with ABSA due to recent unexplainded increase on my Bond account with them.

I have been a loyal Absa customer for many years and with several accounts, including savings (+20 Years), cheque, (+20 years) credit cards (+15 Years) and a Bond account (+17 Years). During this relationship over several years, I never had any missed payments or anyother issues with ABSA.

For the last fewe moinths on 2021, my Bond account was juyst over R8200, which included about R1200 Insurance Premium (also with ABSA). THis amount went up in October and November to just over R8500 due to interest rate increase.

I did receive an e-mail from ABSA at the end of November 2021 advising me that my new premium for my Bond account would go up to Over R9700 and will be deducted end of December 2021. No Reason were provided for the new increased premium of over R1200.

Despite over 15 phone calls and including a visit to my loical ABSA branch, no one could give me an understandable or valid reason as to why ABSA decided to ***** an additional R1200 + from my bond account. Several possible reasons were provided and I have been transferred to insurance division and back to bond division several time and the last feedback that I received that the terms were updated. Nothing has changed in our contract and we have not requested any changhes to either the bond or insurance contracts.

When nobody could give me a reasonable explanation on increased premium, Iwas advised to log a complaint at the ABSA complaints department, which I did.

After logging the complaint, I did receive a reference number and als two follow upSMS messages confirming that the complaint is being investigated.

Within 7 days, I receive another SMS advising me that my complaint has been closed. This is without even receiving a single SMS, e-mail or telephone call from anybody at ABSA. I can confirm that I received a single phone call from a number (listed as spam)on my cellphone on the same day that the call was closed. At the time I was driving and unable to take the call.

If this is the way that Absa handle their loyal customers, I am no longer willing to be part of this organization and will be starting the process to move all my accounts to another bank, including the bank accounts from my family memebers