Shocking service from ABSA bank

I am writing on behalf of a family member who has been a client with ABSA bank for years and years. Banking with ABSA bank whereby the business turn over P.A went as high as R100 000 000. From being a wealth banking client and getting this treatment now is shocking.

My family member has informed ABSA, his business banker and the credit manager that the company is currently suffering an extreme difficulties and that the business is currently running at a loss. He further requested that they look into his term loan of the repayment structure as the company cannot afford to re pay at the moment a R200 000 + instalment per month - ABSA assisted and reduce this for 4 months to just over R100 000 per month.

We then made contact closer to the 4 months expire and advise that the business is still suffering and that he can get access to lump sum funds to settle this account in two set of payments which ABSA bank (his private banker rejected) and if they can re calculate the interest in order to meet the proposal of settlement provided too them.

We then went to the Ombudsman for assistance, once we received confirmation from the Ombudsman that they reached out to ABSA we receive another letter on another account (his overdraft account) which is not behind with any payments that they now cancelling this and requesting full payment of close to R1 000 000 within 10 business days. ABSA knew since last year that the company is going into a dip and yet they only cancelling this now since the Ombudsman has been involved.

Their saying "We here to Assist you" is a lie, they are not there for good standing clients who has banked with them for years made them millions and when you find yourself in hot water they kick you away and think anything of you.

We are in South Africa and any business can take a dip but ABSA must not forget that one can stand up and recover again and when that day happens who would want to bank with them. I am totally shock to hear and see what ABSA is doing to my family member who was faithful to ABSA bank. He is the one who made contact with them explaining what his facing before any accounts started going behind making sure he informs his bank what is going on. As we stand today from all the accounts his got with ABSA bank there is only one that is behind with a payment of 18days late and yet they are canceling accounts that is up to date saying they are linked together and he has signed surety on his personal home. This tells me that ABSA will do what ever they can to get access to a persons home. We requested for their legal teams details to deal with them and this was also rejected because the file is not even at legal yet.

We are trying to reach to an agreement whereby we can resolve this matter and have not avoid ABSA bank - in actual fact it is us calling after them but then receive response by demanding full payments in such a short time frame knowing that is cannot be met.