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Lynn M

1 reviews | Active since Aug 2011

08 Sept 2017, 18:57

Bank is trying to profit from an ******* transaction

I bought a car from a dealer and gother finance with absa. I drove the car for over a just over a year and made payment of over R2000.00 per month every month.

In July 2017 I received a call from police who wanted to inspect the car as it was a ****** vehicle. On inspection they confirmed the car is ****** and they immediately impounded it.

I notified the dealer, my insurance and absa immediately. The dealer paid all the money back to the bank. The dealer also paid me my deposit back. My insurance reimbursed me all my premiums on the basis that the entire transaction is *******.

I have been trying for months to get absa to refund me my money. They are wanting to refund me R14000. This is unacceptable to me as I have paid far more than that over the months I had the car in my possession. Their reason is they are looking deducting money for "wear and tear", even though it was myself that looked after the servicing and upkeep of the car.

The bank is in effect trying to make a profit from my misfortune, and essentially they are trying to profit from an ******* transaction.

I have been trying to get them to send me a statement of my account for months as well as tried repeatedly to get a full refund. They have stalled and delayed and basically ignored me. All the while monthly installments are still being paid on a car I no longer legally have in my possession.

Absa are *******....

I want my money back. I am not asking for anything that does not belong to me in the first place. They have sent me no documentation reflecting how they come to the sum of R14000 due to me and I simply do not accept that I should not be paid all my money back that I am due.

Be careful of absa, in my opinion they are just as bad as any common ******** except they feel they can get away with this behavior it seems.

Absa bank have no ethics and are committing a crime...

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Replies (7)
Absa
Absa's reply11 Sept 2017, 10:41
Official

Dear Customer

Thank you for bringing this matter to our attention. Kindly provide us with your account/ID number to log a formal complaint for investigation. Also use the private reply for me to see the details. We will investigate the matter and furnish feedback shortly.

Kind regards
Nthabiseng Sibande
Group Customer Care
Absa Bank Ltd

Absa
Absa's reply11 Sept 2017, 16:30
Official

Hi Lynn

I have noticed that the account/case is with one of our case managers.

Will ensure that they speed up the process.

LM
Lynn M's update12 Sept 2017, 10:24
Reviewer Update
So again I have been told by ABSA that they have no intention of paying me the full amount back, they insist on giving me R14000.00 and deducting the balance of my money for "usage". I was the one who maintained the vehicle and was responsible for the servicing, and let me remind absa that this was not a rental agreement but a sale agreement, which has turned out ton be *******... you are obliged to refund me. I AGAIN REQUEST A BREAKDOWN OF MY ACCOUNT, AND PLEASE SHOW WHERE IN THE SALE AGREEMENT IT STIPULATES THAT YOU MAY KEEP MY MONEY IF THE CAR TURNS OUT TO BE ****** WHEN I BOUGHT IT FROM A DEALRESHIP??????????????????????????????????? I will be laying ******** charges against ABSA...
LM
Lynn M's update12 Sept 2017, 10:45
Reviewer Update
and please also remember, absa does not own the vehicle... so absa is charging me for usage ON A ****** CAR!!!!!! ????? Your legal department must be sleeping....
LM
Lynn M's update12 Sept 2017, 12:32
Reviewer Update
the care was not ****** from me... IT WAS AN ******* PURCHASE BECAUSE WHEN I SIGNED THE PAPERWORK WITH ABSA, THE CAR WAS ****** AS IT STOOD IN THE DEALERSHIP..... the police inspected it and then it was impounded. I really do not think ABSA is understanding the facts of my complaint. If the vehicle became ****** once it was in my possession, then yes... they could charge me for usage. But in this case THE CAR WAS ****** BEFORE I EVEN SIGNED THE PAPERWORK ON IT......
LM
Lynn M's update16 Sept 2017, 23:20
Reviewer Update
I still to date have not received a copy of my statement on my account. I has to go to an absa branch today and request that I get confirmation that the account be cancelled so that I at least am not going to be debited again at the end of September. When the police took the car in July I immediately informed the bank and sent them the form provided to me by the police and I attempted to cancel. I was told by Carmen Williams that any money deducted after i reported this to the bank would be paid back to me once the dealership paid the bank. I have been paying installments and I do not even have the car. Today I was promised that I will not be charged at the end of September but we shall see... I am also still waiting for the so called settlement offer of 14000 to be sent to me in writing. This too is not forthcoming... on receipt thereof I'll be taking this matter up with the omnudsman. This was not the first car that I financed through absa but it is the last time I trust absa bank that I can promise you. Looking forward to finally receiving a statement of account and the offer in writing....
LM
Lynn M's update16 Sept 2020, 11:18
Reviewer Update
I took this complaint to the banking Ombudsman, ABSA bank was instructed to REPAY ME ALL THE FUNDS, which they did.

I will never deal with ABSA for anything in future after the experience I had with them.