AB
Alvin B

1 reviews | Active since Jun 2014

05 Aug 2019, 10:57

Account on hold

My account has been frozen for 4 weeks now going for 5 weeks and I m failing to understand how two contracts can be merge into one.

and there are still deducting bank charges and monthly installments for swap machines are being taken from the account but my debt orders are not being paid I have 2 business accounts with FNB and there are all different in terms for different companies their operations are different, and suddenly one gentlemen from FNB, decided to freeze the accounts because he doesn’t understand why Galo City is a business administration I asked him to go onto our website and see for himself but he was not interested. www.galocity.co.za I want further to explain that we deal with government and on his personal view he doesn’t see how it can be business administration. We at Galo City administer 15 business on CSD “ Central Supplier Database” and including our own and Galo City ”Galo24”, if you go through our transection on our account it’s clear that we receive payments from government different departments and the other business we administer. Due to the freezing off our account it’s now affecting the operational of the business and we are now unable to pay staff. My understanding is when I opened the business account its solely stand for itself and its terms and condition are for that company, if there is a dispute with my other company I don’t see why my other business gets involved while there is nothing connected to it. To make matters worse after the business account is frozen I’m still being charged bank charges meaning the little cash which is in the account is going to be finish which is the one as an SMME we use to generate cash. The reason why my accounts are frozen was because of one of my companies called PayMyBill, the first time I called to find out why I could transact I was told that we are charging 10% to send ewallet for people to my surprise there was no proof of any transaction which we did and if you go through our account we has few ewallet which went out to my employees and for petty cash or payment of service but there are not even more than 5 a month. And looking at the amount FNB charges me for an ewallet that means I will be running a loss because it’s about R15 and it wouldn’t make sense. But what I don’t understand is how and why Galo City was and separate company got involved in this, as it’s a separate entity. I M writing on this on behave of Galo City as I would take up this matter as 2 company as I feel its best each company be treated as separate the same way I opened the account I signed each terms and conditions for each company separately and I would’t understand why the 2 company should be merged. For example if I decide to close one account does it mean all the companies will be closed or if I can a package for one company does it mean all the packages will be changed? And does it mean if I come to apply for a loan for Galo City does it means the same condition will apply for both companies as their income flow are different. Please I’m asking for your assist in this regard as FNB Care to resolve this issue for Galo City, for the other company will have to deal with the issue separate

0
Replies (0)