1 reviews | Active since Mar 2009
African Bank has no clue, Do not open an account with them
I got all our staff to open African Bank Tax Free Accounts. The last employee sent through her application. The first email remained unanswered so she sent it through again reminding them of this application. The Application Confirmation, which needed a signature, came back with the incorrect address, which differed from the application form that she sent through together with her ID and proof of address. She unfortunately cannot call during the day but can email, so she sent back her application form with ID and proof of address and the Application Confirmation asking them to correct this. This was too difficult for SCC Invest department to do and kept insisting that she calls them. She then told them that she wanted to cancel the account. They said they couldn't update the Confirmation of Application but they could update the system and send through a statement with the correct address on it. When she received the statement, the address, was still incorrect. She then told them again that she wants to cancel. They sent an email saying that the account was now cancelled and the amount she had deposited would be deposited in her account in a couple of days. Today she got another email saying they cannot pay out her balance as there is a system error, but if she deposits another R150 then they can pay the money into her account. What on earth is going on here? I was the one who encouraged her and our other 2 employees to open at African Bank, both my husband and I too opened an account too. After this experience I am going to get all out employees to move their account to another banks. and so will my husband and I as African Bank has no clue what is going on and I now feel it is risky to keep ones money there and they could crash again. So I would not advise anyone to open an account with them.
