1 reviews | Active since Oct 2017
On Saturday 14 January 2023 I went to ABSA Brackenhurst at 08:00. Myself, my mom and my brother was with me.
My mom and I decided to open up Tax Free Savings accounts. With the whole idea of placing R36000 into the account on 14 January 2023 and then on 1 March 2023 an additional R36000 as it will be the next tax year and you are allowed to contribute R36000 per tax year.
The sales consultant was P Gwaza. She was the only sales consultant working on that particular day. She assisted my mom and opened a Tax-Free Fixed Deposit Account. After assisting my mom she helped me open two accounts one of which was supposed to be a Tax-Free Savings Account.
During the whole process Ms. P. Gwana never asked a lot of questions. The ROA Questionnaire was never discussed with me and also not with my mom.
I had to sign and documents were printed and handed over to us. I was asked to add these accounts to online banking app and then was asked to transfer the money into the relevant accounts.
As I got home I went through my documents and noticed that I was never given a Tax-Free Savings Account but rather a Dynamic Fixed Deposit Account. Me receiving this account was never discussed with me.
I went back to the bank and get this sorted out. The front desk assistant ask me what I wanted to do at the bank and I explained the issue to her. She went and spoke to Ms. P Gwaza. When the front desk assistant came back she told me that Ms. Gwaza opened up a Dynamic Fixed Deposit Account for me as I am still working and not on pension and that's the reason why my mom got at a tax-free savings account. She also gave me a printout of my account and showed it is Tax-free Fixed deposit.
I made contact with an employee of ABSA at head office to have a look at what is going on. The person informed me that is wasn't the product I asked for and that the Dynamic Fixed Deposit Account is most probably the worst product I can have and what ABSA can offer. The person requested that I go back to ABSA Brackenhurst branch to get it sorted out and if I do not get the assistance I needed I should talk to the branch manager.
Unfortunately I am not able to go to the bank during the week due to work responsibilities. I went to the Brackenhurst branch on 21 January 2023 to get the issue sorted out.
The only person assisting customers with account was the Personal Banker (Not sure what his name is). I explained the issue I had to him. He made copies of the front pages of my Dynamic Fixed Deposit Account and my mom's Tax free fixed deposit account and said that he will need to discuss it with the branch manager and will phone me on Monday 23 January 2023.
Today it is 26 January 2023 and still no word from ABSA Brackenhurst.
When will this issue be sorted out?
Best regards,
Best regards,
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