BG
Boipelo G

1 reviews | Active since Jan 2020

08 Jan 2020, 16:22

Non disclosure of bank charges on Absa savings accounts

After going to the ATM to check my Absa savings balance which reflected as R0.00, i then proceeded to the teller for the NET balance including all bank charges. She then confirmed that it is indeed R0.00 which then informed my decision to deposit my critically needed money into the account with the hope of using it for urgent matters. To my dismay there was about R700 of undisclosed bank charges which the teller failed to make me aware of. Moreover, Absa is misleading savings account clients as far as what the true reflection of what the NET bank balance is. NET of bank charges by capping the balance at R0.00. In actual fact it is supposed to reflect as negative amount after all bank charges at all times. This capping of the bank balace at R0.00 without showing the NET effect of bank charges including monthly fees is surely ********* and misleading.

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Replies (1)
Absa
Absa's reply09 Jan 2020, 14:16
Official
Dear Boipelo Gopane
 
Thank you for bringing this unfortunate matter/incident to my attention and please accept my sincere apology . I will review and provide you with my specific contact details as well as your unique complaint reference number, and an expected timeframe for further feedback/resolution via email or making contact with you telephonically within the next hour . 
 
 
Kind regards,
Rezona Louw 
Group Customer Care