CM
CAROL M

1 reviews | Active since Feb 2014

16 Nov 2017, 21:28

Double charged on instant loan initiation fee

On the 13th of October I app**** for a 3000 instant loan with ABSA online. The conditions of the loan was repayment of full amount with extra initiation fee of 342 on the 26th of October. But to my surprise the 342 was deducted almost the same day. And again when ABSA deducted the repayment on the agreed day they still deducted the amount of 3342 meaning the initiation fee was deducted twice. I've been calling absa been to their branch no-one is able to assist me. In addition instant loan deductions do not reflect as a payment in your bank statement instead they feedle with ur overdraft balance so it's not easy to pick up but luckily I worked out the difference on my available balance before and after the instalment went through and it was exactly 3342. The call centre agent told me that the initiation fee cannot be deducted before the agreed time but were still unable to help me. I'm tired of going back and forth without any help over a mere 342 but I refuse for absa to rob me off my hard earned money. I hope there will be someone who will attend to this.

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Replies (2)
Absa
Absa's reply17 Nov 2017, 14:46
Official

Dear Customer


Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards

Daphne Le Grange

Group Customer Care

Absa Bank Ltd

Absa
Absa's reply24 Nov 2017, 21:29
Official

Dear Customer


Thank you for bringing this matter to our attention. We will investigate the matter and furnish feedback shortly.

Kind regards

Daphne Le Grange

Group Customer Care

Absa Bank Ltd