JV
Jakes V

1 reviews | Active since Aug 2014

07 Jul 2016, 17:18

Still waiting for feedback after 10days on "Refund not available in Flexi Bond Account" No email or phone call

<p>Still waiting for feedback after 10days on this matter and haven't had a call or email to resolve it, except this littel message at the bottem that they will be looking into it however it isn't happening. ABSA is *******ly benefiting from this refund and per CPA law they are not allowed!</p> <p>"Hi,</p> <p>ABSA Building Insurance forgot to cancel my insurance so I paid it monthly unknowingly for 2 1/2years. I luckily picked it up the other day and had it cancelled after few emails up and down.</p> <p>Now they refunded me to the bond account however they haven’t made the refund available in my flexi account and keep say they will not.</p> <p> </p> <p>But how I see it, I have paid this monthly fee for the Building Insurance from my personal FNB account to the ABSA Bond account and the ABSA Building Insurance have deducted the money from my ABSA bond account ever year. But now they only capitalise the Bond account but I do not have access to my refund.</p> <p>As per CPA law this is not allowed if the refund is not available to the client. Otherwise the Bond account is benefiting from the refund and not the client. Who have been paying the monthly fee from the FNB account to the ABSA Bond account. CPA law states the refund should be done to the clients account where the money came from or should be available to the client to withdraw. But it isn’t. I need this corrected that the refund be available in the ABSA Flexi Bond account.</p> <p>Regards"</p>

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Replies (1)
Absa
Absa's reply08 Jul 2016, 07:41
Official

Dear Customer

Mavis from Homeloans tried contacting you on ********** Yesterday the 07 July 2016

Kind regards
Vanessa Crowe
Group Customer Care
Absa Bank Ltd