FUNDS ARBITRARILY TAKEN FROM ACCOUNT

I have a business account with ABSA (Business Essentials Lite Package). On 1 Feb 2019 ABSA debited my account with R100 for "Unauthorised Debit Balance". On 1 March 2019 my account was once again debited with R100 for "Unauthorised Debit Balance". Same thing happened again on 1 April 2019.

On page 12 of ABSA's 2019 Pricing document it is stated that: "An unauthorised debit balance fee is applicable when an account without an approved limit goes into a debit position"

On 1 February, 1 March and 1 April, my account had a CREDIT balance, so I did not understand why ABSA was taking a R100 a month from my account for having a credit balance. So at this point, on 24 April 2019, I e-mailed my business banker as I was concerned that on 1 May (and every month to come), ABSA will take R100 from my account and penalise me for having money in the account.

Two days went by without a response, so I sent another e-mail to follow up. I was then advised that my business banker "printed my enquiries and will attend and let me know asap".

I also followed up with a phone call and was then advised that the R30 statement fee that I have also been paying every month was an error (something I had also queried before, to no avail). I took the opportunity to ask the banker why I am also paying arbitrary "transaction charges" of R0.55, R1.15, R0.60, R1.20 if the Bundled Pricing for the Business Essentials Lite Package clearly states that 10 transactions per month are included in the monthly account fee. At this point it is worth mentioning that the only transactions on my business account are the payment of the monthy bank fees. So I am then paying transaction charges on the payment of my bank fees that I transfer from my personal account to the business account every month. I also paid R30 "internet bank fee" on 28 February. I also don't know what that is for as it should be included in my monthly account fee of R115. Since I opened this account I have only paid this "internet fee" once, totally arbitrary. The banker assured me that I should only be paying the monthly fee and no additional charges as the monthly fee includeds 10 transactions per month. I was also told that ABSA will look into the R100 fee I am paying every month for "unauthorised debit balance". So I waited for their further feedback.

I then received the following e-mail:

"The findings are as follows:

· On the 01/01/2019 a deduction was made which made the account fall on a negative and then Absa penalised you the R100 (for Jan in Feb)

· The statement fees we will do a reversal on it as it’s the system error"

First of all, if my account was in arrears in January and I paid R100 in February, I accept that. But what about the R100 that was debited on 1 March and 1 April. (I reiterate that on 1 Jan, 1 Feb, 1 March and 1 April my account had a credit balance). My account went into arrears in January when ABSA deducted a R28.25 admin charge that I still do not know what for as there are no transactions on this account aside from payment of monthly bank fees.

ABSA offered no explanation for the additional R100 deductions on 1 March and 1 April.

The statement fees of R30 that I have been paying every month (I don't receive any statements via post or e-mail or in any other way), are now being refunded to me as it was due to "a system error". No apology offered for ABSA in effect *****ing my money every month.

I still don't know why the R100 was deducted on 1 March and 1 April and I am sure another R100 will be deducted on 1 May.

It is very concerning that had I not brought this up, ABSA would have continued taking money from my account for no reason whatsoever, probably for years to come.

I still don't have satisfactory feedback on the rest of the funds (R100 on 1 March, R100 on 1 April, internet bank fee of R30, transaction charges etc.)

I have been an ABSA client for many many years. I also have a cheque account, savings account and credit card with ABSA. My husband also has a cheque account, credit card, car loan and savings account with ABSA. He also recently had an enquiry about fees debited from his account, not mentioned in the pricing package, and he's been waiting 3 weeks for feedback. T

We recently got a home loan from ABSA, even though they initially offered the worst interest rate out of all the banks. We are loyal clients so we negotiated for a better interest rate and accepted the ABSA loan, which we are now regretting and considering switching to a different bank.

At this point I am so disgusted with ABSA's despicable service, that we want to close all our accounts as we have lost trust in a financial service provider that seems to be arbitrarily taking money from our accounts. I believe such action should also be reported.

I urge prospectice ABSA clients to reconsider.

Regards