SW
Sydney W

1 reviews | Active since Oct 2014

07 Apr 2025, 10:13

FECKLESS AFRICAN BANK

I have invested quite a bit of money on fixed deposit with AFRICAN BANK over the past 6 years. I must admit that their interest rates were among the best and their website and notifications quite useful. BUT, this is how they deviously catch you out. When you open an investment account and deposit your money, "as a standard practice" they open a MyWorld account in your name. Be aware of this! Now you didn't ask for this account; nor do you need it. A dormant account is fine, but here's the devious act on AFRICAN BANK'S part - they levy charges on this account. You don't want or need the account, or transact on it, but you pay the Bank for the existence of the account. To try to get the Bank to close the account is nigh impossible. Eventually, after lodging complaint after complaint, the bank says it will investigate - this will take 30 days!! I'm not prepared to wait another 30 days after raising my complaint two months ago. The Banking Ombudsman will have to assist. Banks today are "faceless" in the way they deal with customers, but AFRICAN BANK is "FECKLESS" - very inept in trying to deal with a simple matter, and doesn't seem to care much.

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Replies (3)
African Bank
African Bank's reply07 Apr 2025, 12:48
Official
Thanks for speaking up and calling us out. We'd like to call you and listen to your concern in detail, but we can't get hold of you. Please give us a call on ***so that we can get to the bottom of this.

We hope to talk to you soon.

Your African Bank Support Specialist team
SW
Sydney W's update11 Apr 2025, 17:19
Reviewer Update
It has taken a bit of time and some frustration, but I must say that eventually African Bank persisted in contacting me and resolved this matter. I am grateful and must commend Thabo Tswanya of African Bank for his effort to make this work.
African Bank
African Bank's reply11 Apr 2025, 18:24
Official
We've escalated your concern to our internal complaints department for the attention it deserves. Our African Bank Complaints team will be in touch as soon as the matter is resolved.

Your African Bank Support Specialist team
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