I want to move my trust account

Formal Complaint Regarding Withheld Trust Funds and Lack of Transparency by ABSA Bank

Greetings,

I am writing to formally complain about the ongoing issues I have experienced with ABSA Bank regarding the administration and release of funds held in a trust established from a Road Accident Fund payout I received when I was a minor. At the time, I suffered a serious head injury that not only left lasting physical pain but also caused learning disabilities, ultimately affecting my educational and career opportunities.

Following my accident, a RAF payout was placed into a trust for my benefit. I was a minor when this trust was set up, and I have never been provided with access to these funds. Recently, ABSA Bank informed me that an agreement—purportedly drafted by a lawyer who has since “gone overseas”—restricts my ability to access my money.

Despite multiple requests, ABSA Bank has refused to show me the original trust agreement or any documentation detailing the terms under which my funds may be accessed. As a beneficiary, I believe I am entitled under South African law to full disclosure of how my trust is managed and why these funds remain unavailable.

The withholding of my funds has had significant adverse effects on my life:

I have been unable to pay for my education, preventing me from obtaining academic results that are critical for job applications.

My financial independence has been severely compromised, leaving me uncertain about my future and that of my child. This lack of access and transparency appears to contravene the fiduciary duty ABSA Bank owes me as the beneficiary of this trust. I respectfully request for an investigation in this matter and help bring attention to the following issues: 1. The refusal of ABSA Bank to provide the trust agreement and related documents. 2. ⁠The legality of enforcing restrictions on my access to funds that are rightfully mine, especially considering I was a minor when the trust was established. 3. ⁠The potential breach of fiduciary duty and the impact this has on my educational, financial, and personal well-being. I am eager to obtain clarification and, if necessary, pursue legal avenues to secure my rights as a beneficiary. I would greatly appreciate any guidance or support the team can offer in helping to resolve this matter.

Thank you for your time and consideration.

Sincerely,

Rulani Kubayi ***