1 reviews | Active since May 2016

12 Nov 2018, 18:50

Tellers not open and honest about clearance times!

I deposited a cheque (Nedbank) into my Absa savings account. At the teller I was told this will take 3 to 7 days. (Where I had to add "business days" as it was not freely stated by the teller.)

I did enquire regarding special clearance and was told that would bring it down to 4 days but it's not worth it as the cheques usually clear by day 3 and I would have wasted my money on special clearance... So my own fault for not doing the special clearance but also on recommendation of the teller!

Reading up on this, I get a lot of cases where people complain the teller said a lot less days than it actually took... I also phoned Absa and was then told that all cheques will take exactly 10 days without special clearance and that special clearance can only be done at deposit. (Again, I had to add the "business days" part...)

So why not be open and honest with your clients regarding clearance times/process? Even if it takes long, I would be much happier if I know from day one where I stand rather than later realize I've been **** to... Also, if I have the correct info at the start, I can make the choise if I want to spend the money on special clearance or not. (Which I see as my money, my choise...)

Also, I get that cheque clearance has a mostly to do with ***** and everyone wants to be safe but I also know clearance have to do with banks wanting to discourage cheques (I also think this is an ancient and no longer needed process...) but I can not help if I get a cheque payment and I need to deposit this cheque as I can not just leave the money...

Please be open about processes so that clients can make desisions based on facts and not be disappointed later... (I made my choises on the info from the teller and actually needed the money today for medical reasons which I have now indefinatly postponed until I actually see the money cleared in my account, so in hindsight I would have been better off spending the money on special clearance!)

Ps. I am an extreamly happy Absa customer and never at any other point have had any issue, keep up the good name!

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Replies (1)
Absa
Absa's reply13 Nov 2018, 09:11
Official
Dear Customer
Thank you for bringing this matter to our attention.
Please can you provide me with your ID or Account number to enable me to log a formal complaint for you, this information can be sent via private message.
Regards
Claudette