Non-disclosure of fees by Absa Consultant

On 6 February I visited the Newton Park branch in Port Elizabeth to arrange an overdraft - it was made clear from the onset that the funds were required for 2 to 3 weeks only. The consultant who assisted me was firstly very unprofessional and secondly did not disclose material facts to me. He was making jokes with the person doing the overrides and kept on looking at his cellphone which was on the workstation. He asked me to sign electronically and gave me printouts before I left - I still asked him if it was all and he confirmed. At no stage did he disclose an activation fee or the credit life policy I now have at R34 per month.

I inquired today regarding the debit of R 1207.50 on my account. I called the Branch manager who was not very helpful and just referred me to the printed contract. The consultant called me back and admitted that he remembered that I only needed the funds for a short period of time.

How is a fee of R1 207.50 fair in anyone's books for access to an overdraft of R15 000 for 2 to 3 weeks. There are many other options available to obtain credit which would be much cheaper. As a loyal customer, I visited my branch first. I would never have agreed to the activation fee and would have explored more reasonable options. The credit life was definitely not discussed as I have enough life cover and the period of the overdraft was not even a month.