*****ed and ******* AFRICAN BANK

My wife had a fixed interest investment in African Bank (R 116k) which matured on 17th July. When she opened the account she included in the form that the funds on maturity were to go to her Investec Prime Saver Account. A few days before African bank tried to phone her but was a missed call. She responded by message that she did NOT wish to re-invest as their rates were no longer competitive. which was a clear instruction to transfer the funds to her Investec Account. The completely ignored my instructions and put the funds into a My World Account, which was totally contrary to my instructions. They sent an email which apologised and stated that interest will continue until they transfer the funds. Funds were eventually transferred on 29th July 12 days late, BUT they still owe the outstanding interest of R 268.00.

They ignored the instructions completed on the deposit opening procedures to send the funds on maturity to my Investec account.

My wife had a missed call and voice mail to return call which I did. My wife knew from past experience it would be an agent asking why my wife did not want to reinvest. She left a voice message to say she wanted the funds to go to her Investec account as instructed on opening the investment account.

The reason she does not reinvest is your current rate is not competitive.

My wife is very angry that they did not comply with her original instructions and the ensuing debacle because she is currently in UK your agent emailed to say you cannot contact me by phone to verify transactions. Untrue , my SA phone receives sms which I can respond to. I received one from your bank on 29th July.

Anyway, my current problem is that you have not paid the interest due to me as per email below , from the maturity of my account on 17th July till you finally transferred the funds on 29th July. Please forward to my Investec account the amount of R 267.18 ( 12 days at 7% ) in respect of the interest accrued by your error

A similar problem occurred with my husband's account maturing 24th July and you paid him the 7% due for the 2 delayed days.

Anne Ellis