African Bank Deposit Charges

I am extremely disappointed with the way African Bank has handled my complaint regarding an excessive cash deposit fee.

On 27 July 2026, I deposited R70,000 at an African Bank branch. At the time of making the deposit, I was not informed that such a substantial fee would be charged for the transaction.

On 28 July 2026, African Bank deducted:

* R6,391.30 — Deposit Fee * R958.70 — VAT on Deposit

That is a total of R7,350.00 in charges on a R70,000 deposit.

I immediately contacted African Bank because I found these charges excessive and I had not been made aware of them before making the deposit. The consultant I spoke to acknowledged that the branch should have informed me about the applicable charges and advised me to check African Bank’s online platform for future deposits.

I was then given the following complaint reference:

Complaint ***

I subsequently received another call from an African Bank representative later that week. She asked me questions regarding the transaction and advised me that the matter would be investigated with the branch. During this conversation, I was also told that if I did not get the money back, it would essentially be my loss.

I was advised that the complaint would take 21 business days to investigate. I have now been waiting for feedback and have still not received a resolution or a proper explanation regarding these charges or whether my money will be refunded.

My concern is not simply that African Bank has fees. My concern is that I was not informed at the branch that depositing R70,000 would result in R7,350 being deducted, and I would have reconsidered the method and amount of my deposit had I known the cost beforehand.

I am therefore requesting:

1. A full explanation of why I was charged R7,350. 2. Confirmation of the applicable fee structure and where I was informed/consented to these charges. 3. An explanation of why I was not informed of the charges before making the deposit. 4. Feedback on the investigation into the branch. 5. A refund/reversal of the charges 6. An explanation as to why I have not received feedback within the promised 21-business-day period.

African Bank, I am asking you to please resolve this matter urgently. R7,350 is a significant amount of money, and I should not have to repeatedly follow up simply to receive feedback on a formal complaint.

Complaint ***

I would appreciate a proper written response and resolution rather than being left waiting indefinitely.