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VUSUMZI K

1 reviews | Active since Sept 2010

26 Nov 2015, 19:55

FAIS Legislation Breach by ABSA Bank

On 30 September 2015, I visited Absa branch in Tableview, requesting changing of my fees structure on my existing Current account ***, as I am no longer using this account often. I met with 2 Priority Bankers, a Black and a Coloured gentlemen, who took me through different fees structures and I chose the one of R49.00, and I indicated to them that they may cancel Internet banking as I had learnt that for the month of September alone, I was charged more than R500 on Internet banking alone.<br> <br> Though the two gentlemen jointly confirmed that on the newly selected fees structure I would not be charged for Internet banking and I took their Disclosure as being true, and to my shock, on 01/11/2015, I have been charged R113,90 for Internet banking, so they Misled me, WHY? I want this charge Reversed.<br> <br> According to my discussion with the above 2, I was told that i would be charged the Monthly account fee of R49,00, Debit Interest of my Overdraft Facility. And to my Shock in November 2015, I have been charged R57,00 and R414 (x2) then they reversed one. What are now these surprise charges for, in terms of FAIS, are we not supposed to Disclose all material information to client? REFUND.

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Replies (1)
Absa
Absa's reply27 Nov 2015, 13:16
Official
Hello Vusumzi,

Dear Customer

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

Kind regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd