Urgent Complaint Regarding Lack of Resolution on Home Loan Account

I am submitting this formal complaint regarding the unacceptable service I have received from ABSA Bank regarding my home loan account. Since 14 December 2024, I have made multiple attempts to obtain clarity on why my home loan balance has increased over the years instead of decreasing, despite consistent payments being made since 2007. The lack of response and accountability from ABSA has been extremely frustrating. ________________________________________ Summary of My Experience: • Repeated Phone Calls: I have contacted ABSA multiple times, only to be told “Sorry, we cannot help you. You must visit a branch.” • Multiple Branch Visits: Upon visiting ABSA branches, I was informed that they did not have the necessary permissions to access my loan details. • Emails Sent with No Response: Despite sending emails since 14 December 2024, I have yet to receive a proper response. • No Resolution or Explanation: I still do not have a clear answer as to why my bond balance has increased by R200,000 over 17 years instead of decreasing. ________________________________________ What I Am Requesting: I require a Senior Manager—someone with full access to the ABSA system—to: 1. Provide a detailed breakdown of my home loan from 2007 to 2025, including all transactions and interest calculations. 2. Offer a clear explanation, supported by figures, of why my loan amount has increased instead of decreasing. 3. Directly engage with me to resolve this issue without further delays. ________________________________________ Next Steps: Should this issue not be resolved urgently, I will have no choice but to escalate it further by: • Lodging a formal complaint with the Ombudsman for Banking Services. • Seeking legal intervention for a thorough review of my loan. • Publicly addressing ABSA’s lack of transparency and accountability. ABSA is a leading bank and should be capable of providing basic customer service and transparency. This failure to assist a longstanding customer is completely unacceptable. I expect a written response within five (5) working days addressing my concerns in full. Please treat this matter with the urgency it deserves.