BE aware of your FNB Private Banker – 50% Ebucks Misleading Information

I`ve been with FNB for more than 10 years and am completely disgusted by what transpired this year. Especially during tough economic times due to the pandemic COVID 19 We were not aware of the 50% ebucks for first time home owners. It was brought to our attention whilst signing paperwork at the FNB attorneys’ offices. I decided to make contact and confirm this with my FNB Private Banker Megan Hoffman.

17 August Email to private banker: “We purchased a property and due to the pandemic it was only registered not so long ago, with the debit order going off 01 September 2020 Kindly confirm when we will receive the "50% of our first basic home loan repayment amount in eBucks?"

Expectation was created but needed to verify with bank

25 August Email from private banker: “Apologies for the delayed response. The Ebucks pay-out usually occurs after first homeloan debit order has been updated. That should be after 1 September”

Expectation confirmed

25 August Email from private banker. “If no Ebucks is received within 5 days of the homeloan debit updating then I can definitely escalated it for you”.

Due to the pandemic I went onto short time + no commission earned. We did not apply for any payment holiday from FNB, we kept up to date with all payments and amended our budget accordingly. We made reference to the fact that our ebucks will come through and assist us.

18 September Email to private banker. “We have still not received our ebucks as previously discussed.”

18 September Email from private banker. “Thanks for advising I am going to escalate this for you and will revert back”

21 September Email to private banker. “Thank you. I`ll await your soonest feedback”.

21 September Email from private banker. “I have enquired about the Ebucks new homeloan pay-out and was advised that the pay-out can occur within 2 to 3 months after the first debit order has been collected.

Highly disappointed, financially we included the ebucks in our budget to assist us during these trying times, as my sector was and still is not fully operational.

14 October Email to private banker. “I`ve been in communication with you since August and now would like some clarity and confirmation with regards to the ebucks update. As you can see the time period went from after the first debit order, to now 3 months. If it is 3 months then as of 01 November 2020 it will be 3 months, allowing for processing my ebucks should be updated by Friday 06 November 2020”

14 October Email from private banker. “I have escalated the request to our homeloans department to get clarity on the pay-out date and they have just advised that you concluded the application via a Mortgage Originator the Ebucks pay-out on the bond instalment is a benefit offered to clients who initiated and concluded the bond application via the FNB Home Loan channels e.g. Banking App via NAV Home or via the FNB Homeloan Specialists.”

26 October FNB Internal email to my private banker (we were copied in). “Good morning @Hoffman, Megan please can you advise on the below.

FNB internal email to which we were copied in. “We can allocate but the cost must come from the business company and cost centre. Please provide us with the company and cost centre number”

28 October I received a call from FNB Enrico Petersen to clarify what transpired. I informed him that all this is on email. He then advised that the request has been denied, as 2 people are against me receiving the ebucks. I informed him that we were copied into an internal email and from what we understand the finance department agreed. He said unfortunately the home loans division did not agree. I asked him to put this in writing and to please respond to my questions asked.

10 November Email from Enrico Petersen. “Thank you for the your patience with this matter. Please see attached formal response and feedback regarding your complaint. We would like to take this opportunity to apologize for the incorrect information that was conveyed to you. Kindly be advised that the following is the value proposition for the eBucks campaign” 2 attachments received. The attached letter received was from Kalin Mudaly. The letter was not signed and had no contact details. The second attachment was their value proposition.

10 November Email to Enrico Petersen “To some this all up and gain complete clarity, as a resolution: FNB put to paper their value proposition + a gesture of goodwill offering me 3 months’ account fees. As a FNB Private Client I was misled and given false information again and again which ultimately created expectations and yet FNB is taking no responsibility. Please confirm that my understanding is correct.”

11 November Email from Enrico Petersen. “Your concerns in respect of qualification of the eBucks rebate on your recent mortgage bond has been taken up along with investigation to understand the respective concerns raised. The outcome of this is that your application would not have qualified for the rebate due to not meeting the required qualification criteria as detailed in our formal response supp****. We do apologise for the time taken to provide finality on the matter and as such the gesture of goodwill noted below. Kindly confirm if we should still proceed with the goodwill gesture.”

Megan Hoffman took over my account and her introductory email to me stipulates "It is our priority to ensure you continue to benefit from advice and service of the highest standard" If this is true, why did she not fami****ize herself with my portfolio and information. Did she verify the information that she was giving me, as my personal banker? If she escalated the matter per her email, why did she not mention then, that we do not qualify for the 50% ebucks? Why allow the expectation to continue? FNB please confirm how the information which was given to me over the past 3 months is of the highest standard.

Eric Petersen is hounding on the fact that we do not qualify, that is not the issue here. My issue with FNB is that my Private Banker gave me false misleading information, creating false expectations to me the client. In tough economic times like these, we expect our financial institution to partner with us, assist us and guide us. Not Mislead and give us false financial hope.