Avoid This Bank

Pray hard that a friend or relative that passes away did not bank with ABSA. My father passed away in May (5 months ago) and left a relatively small amount of money in his ABSA savings account.

It was a simple will. It appointed myself as Executor and my wife and I as the only beneficiaries. There are a few debtors that have to be paid and they are screaming for their money.

Since then, I have spent, on various occasions, a total of more than 5 hours in the ABSA Hartbee****rt branch. Even with an Executor’s Letter, the money could not be released. No, the whole process had to be transferred to their “NATIONAL DECEASED ESTATES” division where a so-called ESTATE LATE account had to be opened.

According to them, the whole process had to be FICA-ed again. A lot of documentation was forwarded to them via the Hartbee****rt Branch already in August (more than two months ago). An acknowledgement of receipt in the form of a totally hollow expression of “condolences” was received weeks later. This was obviously on a preformed email that meant absolutely nothing to them. Or to us.

Meanwhile, we were twice contacted by Hartbee****rt branch to put money into this ESTATE LATE account to “activate” it. THIS IS WHAT ****ERS DO!

After about two months and numerous follow-ups, on 13 October, I was informed that the FICA for the account had been “approved”. I immediately requested in the return email that the funds be transferred to an account to which I had access. NO REPLY FROM THEM.

Any request to expedite the matter is simply met with “We have a back log.” With this type of blatant inefficiency and incompetence it is not surprising.

When this money is eventually transferred, I will immediately transfer it to a more client-friendly bank and will hopefully never have to set foot in an ABSA establishment again. I keep wondering what the estate is going to be charged for all this unnecessary “work”.

Meanwhile, I suggest all of you reading this, seriously considered transferring your business to African Bank. They are much more concerned about their smaller clients and we have had nothing but good service from them.

Meanwhile, I will spread this message far and wide as I can.