An unauthorized Overdraft Facility that I was unaware of causing huge penalties of over R 7,000

Very Disappointed. I have had an account with FNB over 12 years including a business account and 3 x personal accounts. For the past 3 years they have been charging me huge amounts of interest, sometimes R 200 for being R 150 overdrawn, in an ''Overdraft'' that I was not aware of - I never approved an overdraft facility - and I am not eligible for one since I am on a passport.

I am writing to lodge a formal complaint regarding recurring penalty charges on my account for going into an overdraft facility which I have never app**** for, agreed to, or signed any contract to use.

Upon reviewing my bank statements from 2023 to date, I have identified the following penalty charges under “Item Paid – No Funds” and other similar descriptions:

2023: R915

2024: R1,035 (so far)

2025: R5,479 (to date)

Total: R7,429

I do not have an overdraft facility — as I am on a passport, I am not eligible to apply for one. Yet my account is repeatedly allowed to go into negative balances, sometimes as much as -R1,500, followed by penalty fees of approximately R400 per instance.

If there are insufficient funds in my account, FNB should decline the transaction — not approve it and then penalise me for the shortfall. Allowing the transaction and then charging me for it is both ********* and, in my opinion, potentially ********.

I have raised this issue at my branch multiple times, asking FNB to prevent my account from going into negative figures. No action has been taken. Recently, I also requested that the BYC facility be removed, as this was causing unexpected transfers from my main account to my savings account without prior SMS notification. This left me believing I had more funds than I did, which again resulted in negative balances and penalty fees.

For example: If I had R4,000 in my account, FNB might transfer R1,200 to my savings account without notifying me. I would then make a purchase of R3,800, believing I had the funds, only to be charged a penalty of R400 when the transaction was processed.

I consider this practice unacceptable.

I am requesting the following:

1. Full reimbur*****t of all overdraft-related penalties and charges as listed above (R7,429).

2. Written confirmation that my account has been configured to decline all transactions when there are insufficient funds, preventing this from occurring again.

If my request is not actioned, I will have no choice but to:

Move all my banking (including my children’s accounts) to another institution.

Escalate the matter to the Financial Ombudsman.

I look forward to your prompt response and a resolution within 7 working days.