CG
Charmaine G

1 reviews | Active since Dec 2010

07 Jul 2023, 08:47

Perhaps it's time to take my TFSA elsewhere

I have invested over R80K with African Bank but I wonder if it's time to rethink this. I transfer R3000 from my Nedbank account into my TFSA every month but for June, I cannot make any payment into African Bank Investments - even if I select the account from a pre-approved bank recipient, the system says there is no such account. So then I decided to set up a debit order for African Bank to take the funds directly from my Nedback account, yet again their system wouldn't allow a debit order of R3000 but only a maximum of R2750, I don't know why!! Now they have debited these funds but it's sitting in my current balance and not my available balance on my TFSA so the interest paid into my account is less than it should've been - again I don't know why!!! I tried calling the Investments contact centre on Saturday and no one picked up after making me hold for more than 10mins, I have emailed SCC investments and no response is forthcoming for 5 days. For over two years investing with African Bank, I now feel it may be time to take my investment elsewhere!!!

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Replies (5)
African Bank
African Bank's reply07 Jul 2023, 13:13
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
CG
Charmaine G's update07 Jul 2023, 15:45
Reviewer Update
I didn't get a missed call from you and I have sent two emails to *** so if you couldn't get hold of me telephonically, you could have easily responded to my emails. I am sure will call me back again.
CG
Charmaine G's update10 Jul 2023, 17:33
Reviewer Update
Talk to me soon? When will that be exactly??? No one has called me, no one has responded to my email sent to *** on the 01st of July - you keep responding to this and closing it like it's resolved yet nothing has been resolved!!
CG
Charmaine G's update10 Jul 2023, 17:36
Reviewer Update
Please email me a form to complete to transfer my TFSA from African Bank to another institution, I've had enough!
African Bank
African Bank's reply10 Jul 2023, 19:26
Official
Thanks for speaking up and calling us out. We're giving your concern our full attention and we'll get back to you shortly.

Talk to you soon.

Your African Bank Support Specialist team
***