AB
Aubrey B

1 reviews | Active since Jun 2009

21 Sept 2017, 13:27

Alleged ******** freezing of bank accounts

I am the Secretary of an Association with a business account at the Merchant branch in Sandton of FNB. The account is semi-dormant due to two deposits a year. FNB and at least two other major banks adopted a policy of freezing accounts with no "transactions" after three months, apparently bank charges are ignored. I used to received the banks statements by email. Freezing the account is nothing new. From memory this started during 2014. From about May 2016 FNB stopped sending statements to me which I required for audit purposes. During July 2017, when I requested the bank statements for the year, I was given a list of requirements purportedly under FICA. I eventually comp**** with all the requirements including an instruction to close the account but the branch failed to comply and came with new requirements including that they lack the ability to transfer the balance to a third party bank. Eventually out of frustration I wrote to the CEO of FNB, Mr Jacques Celliers on the 4 August 2017 with two demands. 1) Closure of the account within 7 days and copies of the bank statements from July 2016 to June 2017. 2) Release to me of the legislated mandate to freeze semi dormant accounts having the effect of not accepting deposits, not sending bank statements to a client not recognizing bank charges as a transaction and delaying an annual audit. Not even the courtesy of a reply from Jacques Celliers.

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Replies (1)
FNB (First National Bank)
FNB (First National Bank)'s reply21 Sept 2017, 14:26
Official

Good Day

Thank you for your posting,

We have tried calling you on the number provided and was advised that its the incorrect number.

Can you provide us with the account or previous reference number in order for us to escalate this matter further.

Apologies for the frustration caused.

***

Kind regards,

Hello Peter Complaints