GS
Gerhard S

1 reviews | Active since Oct 2021

21 Oct 2021, 08:40

Bad service and incompetence from FNB share investing

Terrible service. I have struggled for more than a month to transfer 139 of my own shares from my company share account to my wife's FNB share investing account. I have forwarded FNB share investing the necessary transfer documents beginning of October. Almost three weeks later I received communication from FNB that I need to fill out the transfer documents needed for the the transfer of the shares. I reluctantly sent them the same documents that I already sent them beginning of October again.

Secondly the shares will be transferred from my name to my wife FNB share investing account. I received an email yesterday that we need to accept the SST costs. I made it clear according to my knowledge if the total value of shares that will be transferred is less than R40 000 not SST is payable. In my case total value of shares that need to be transferred (139 shares X R220.41 base cost)= R30 636. So we were told we just need to accept the SST costs. We then asked them to tell us how much the SST costs will be for the transfer and we still haven't received an answer. I expect a bank like FNB to be able to tell us what the costs will be that we need to accept? We cannot accept any costs if the service provider cannot tell us what the costs will be.

A simple transfer of 139 shares is taking way too long and taking too much of my time.

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