Africanbank dishonours their 60 months investments

Lately be careful and review your investments with Africanbank South Africa. Based on my interactions and dealings with the bank, are red flags all over and they might be going under. Remember our Reserve Bank gives them a way out to only pay a maximum of R100K regardless of how much is owned to you and i think Africanbank is dishonourest to be taking money from the investors knowing the can cry insolvency at the end.

AfricanBank is due to pay my 60 months investments tomorrow and today they send me an sms advising me that my account is frozen due to KYC. 2 months bank i have been getting 2 SMSs a week requesting me to reinvest my money and even got call to ask if the money can be reinvested. i declined the offer and advised them that i would like to minimise my risk and move my money to another bank. Then a month ago i started getting different SMSs every week then advising me that i need to KYC my account, and that confirmed the sred flags i have been sensing with the media releases regarding AfricanBank. I anticipated that my payout will be an issue and acted on the KYC SMSs. I went to they woodmead branch and gave the the originals of the documents they need to KYC and filled in their documents which were then emailed to "investments" office by the lady who was assisting. Lase week, we got different call advising us we need to KYC out account again and they did admit that our documents we email to them but our account was not updated, documents were just laying there and they were hoping by miracle the system will update itself (maybe they are so advanced in IT and are using AI and bots to read emails, download document, recognize texts in documents and correctly update records). Following this call, we filled in the documents again on our side and this time emailed them form our mail boxes to the investment account again (this is not the 1st time i emailed them with the KYC document, i did this 2 years ago and i assumed they were maintaining compliance). Today now i am advised that my money won't be paid out.

My advise is invest with them at your own risk and if you have an existing monies with them, be warned.