SE
Sunette E

1 reviews | Active since Aug 2015

12 Aug 2015, 10:19

Extra funds not available on flexi reserve account

When I app**** for a bond earlier this year I was granted a flexi reserve account with Absa and they advised that any payments I make over and above my normal monthly installment would be available to me at any time. This is also how they advertise the product on their website. I am currently in advance with more than a months' installment, but can only access funds up to the amount originally granted to me. This is a very important qualification left out by Absa when the product was explained to me. If Absa had explained this to me I would not have paid the extra funds into my bond account and would rather have kept it in my savings account. I paid the funds into my bond account with the view of saving more interest for that period than what I would earn in my savings account, for that same period. Not nice.

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Replies (1)
Absa
Absa's reply12 Aug 2015, 12:37
Official
Hello S.everts101,

Dear Customer

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

We sincerely apologize for any inconvenience caused.

Kind regards

Danzig Boyce
Group Customer Care
Absa Bank Ltd