DL
Dean L

1 reviews | Active since Jul 2016

06 Dec 2023, 16:09

Pathetic and No interest in managing estate after receiving in the region of 80k

I want to express my deep disappointment regarding the lack of substantive action on your part in addressing the current issue by Absa. Despite our lengthy telephonic discussion where I provided you with comprehensive details and highlighted the crux of the complaint, specifically ABSA's failure to pursue the funds owed to my late father's estate under the POPIA act and the unfulfilled promise of an insurance payout exceeding R20,000 by Patricia Moos, your silence on the matter leaves me feeling that your responsibilities are not being adequately fulfilled. I've made it clear that I prefer not to involve Patricia Moos in this matter due to her apparent ineffectiveness in resolving the issue. The recent emails only reinforces this sentiment. It is disheartening to perceive a lack of action, especially considering the gravity of the situation. I can't help but wonder if the inaction is due to the relatively insignificant payout for the shares involved. This situation is not only frustrating but also raises concerns about how matters would be handled if the amounts involved were more substantial. As mentioned in the previous email chain, I am urging for the prompt resolution of the ABSA insurance fund payout. It's essential to highlight that all the premiums paid towards the insurance seem to have been futile. Consequently, we are formally requesting a full refund. Nedbank has committed to contributing a specific amount, so it raises concerns about the delay on ABSA's part. I want to emphasize that this issue needs to be treated separately from the matter involving Standard Bank. The JSE has already confirmed that the account details belonged to my late father, a fact reiterated by the branch manager during my visit. It is imperative that Standard Bank takes accountability for recycling my father's account, and the protection afforded by POPIA should not shield blatant wrongdoing. As assured, ABSA has committed to delivering comprehensive feedback, this from your dispute resolution department but all my emails and calls are not returned. My question is, if I provided evidence that an investor has paid insurance to the incorrect part, as a result of a bank account being reallocated, how can absa not get involved as the estate by indicating that the Popia act protects the client whom wrongfully benefited,what if it was millions of rands? Secondly when will the insurance be transferred to my mother’s account?

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Replies (7)
Absa
Absa's reply07 Dec 2023, 08:53
Official
Dear Dean Lukas
 
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 the expected timeframe for further feedback/resolution via email or by making contact with you telephonically.  
 
The reference number to your complaint is C-***1.
 
Kind regards,
Group Customer Care
Rezona Louw
DL
Dean L's update10 Dec 2023, 16:44
Reviewer Update
Good Afternoon Rezona

Following your email and my most recent response regarding the requested documentation, it would be appreciated if you could make contact with me. This matter is long outstanding. Also noting that your complaints/dispute department has not responded or honoured their commitment in resolving the issue by the 1st December.
Absa
Absa's reply11 Dec 2023, 10:03
Official
Dear Dean Lukas
 
Thank you for your posting.

We are busy with the investigation.
 
Kind regards,
Group Customer Care
Rezona Louw 
DL
Dean L's update16 Dec 2023, 06:31
Reviewer Update
Dear Rezona,

I trust this communication finds you well. I have recently received your correspondence regarding the closure of the matter based on the preliminary response provided by the investigation team. I would like to express my concerns as the report submitted by the assigned investigator essentially reiterated the details of my initial complaint.

To provide clarity, the issue at hand pertains to the reluctance of Absa in facilitating the insurance payout due to my mother. As per your instructions, Nedbank did fulfill a partial payment at the end of December; however, there has been a lack of compliance from your organization in fulfilling the agreed-upon commitment to disburse the monies my mother paid towards the insurance for the entire duration.

Moreover, it has come to my attention that there has been a failure on Absa's part as the executor to follow my instructions regarding the mix-up or reallocation of my late father's Standard Bank account. I explicitly conveyed to the investigator the necessity of contacting my father's previous employer to confirm his details. I also emphasized the importance of engaging the technical team of Standard Bank to ascertain the account's ownership history. Evidence provided by Investec has indicated that someone benefited from dividends due to my late father, and it is imperative that these discrepancies are thoroughly investigated.

Regrettably, I must convey my dissatisfaction with the investigator's handling of the case. It appears that minimal progress has been made on these critical matters. I request prompt and comprehensive feedback on both the insurance payout and the resolution of the Standard Bank account issue, which have been pending for an extended period.


Your attention to this matter is greatly appreciated, and I anticipate a swift and satisfactory resolution.

Regards
Dean


DL
Dean L's update19 Dec 2023, 06:40
Reviewer Update

Dear Russell Edwards,


I hope this message finds you well. I wanted to bring to your attention that Mr. Mthombeni has not been responsive to my calls, despite my efforts to contact him. I have emailed him directly, providing evidence of my attempts to initiate communication and emphasizing the importance of his response to my case. Unfortunately, there has been no substantial progress, with Mr. Mthombeni merely reiterating the concerns in his preliminary report which I outlined in my initial complaint

I opted to use this platform in the hope that your department could offer assistance. Given the lack of resolution and communication, I strongly urge someone from your team to reach out to me via phone. It seems the bank is not actively working towards a resolution, and I believe direct communication is crucial at this point.


Best regards,
Dean Lukas

DL
Dean L's update28 Dec 2023, 09:29
Reviewer Update
I am disappointed with the recent service experience regarding estate matters. The call was abruptly ended when a solution couldn't be provided, and my inquiry to Mr. Mthombeni about the timeline for wrapping up the estate resulted in the offer of a brochure, which I find unsatisfactory. The overall professionalism of the service has been lacking, with the exception of Mr. Edwards. Mr. Mthombeni directed me back to Patricia, the manager, who, as indicated, was involved in a situation leading to an excessive payment of over R22k for the estate. The absence of a clear timeline for concluding the estate process, despite minimal assets involved, is concerning. I urge Absa to enhance its service standards in this regard.
Absa
Absa's reply28 Dec 2023, 11:18
Official
Dear Dean Lukas
 
Thank you for your posting.

The matter has been escalated to the management team.

Absa Trust will be in further contact with you.
 
Kind regards,
Group Customer Care
Rezona Louw