RD
Richard D

1 reviews | Active since Jun 2018

15 Dec 2025, 14:19

Poor service client service for ABSA

I have a fixed dynamic account invested since 6/12/24, on 6/12/25 the investment matured. Today I went to ABSA branch and I was told that I only had 5 days to take action on the investment and that ABSA invested my money automatically for 2 years and I must pay a penalty to release my funds. ABSA did not discuss the interest rate with me and there was no communication form ABSA. I did not reinvest my money nor did I sign to allowed ABSA to reinvest my funds. I have to pay a R43 000 penalty to release y money, this is just crazy and unacceptable. Can ABSA please show me the approval where I gave the permission to reinvest my money .I am still waiting for ABSA response. ABSA must not be allowed to make decisions on my behalf without my approval.

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Replies (1)
Absa
Absa's reply15 Dec 2025, 16:11
Official
Dear Richard, Thank you for bringing this unfortunate matter to my attention, and please accept my sincere apologies for the inconvenience. Your case reference number is C-***1. I will review the matter and provide you with an expected timeframe for further feedback.  Kind regards,Basani HlungwaneAbsa Bank Ltd