Is there a cooling off period in SA for banking products?

I wanted to change my bond account from another institution to ABSA and move everything to ABSA. We only owe small amount on the bond but the reward scheme at ABSA is just very good that we thought let's move everything back to ABSA.

So In order to maximise the rewards I spoke to a private banker and it was agreed we will open the cheque account with an overdraft and get a personal loan (for a small amount - big enough to qualify for rewards).

This was all approved within the last 2 days. Then when I realised I will have to pay at least R20k to move the bond to absa when I only owe about that much I now want to cancel.

Now they want me to pay all the initiation fees and so forth. I said to cancel the cheque with overdraft and the personal loan. They both had initiation fees...

To my knowledge there is a cooling off period in South Africa.

Can anyone help me please?