Complaint Regarding Overcharging on FNB Credit Card and Overdraft Facility

I am writing to express my disappointment and frustration regarding the overcharging on my FNB credit card and overdraft facility. In July 2020, I noticed I was being charged 17.5% on my credit card instead of the agreed-upon 10.5%. Although this issue was resolved by my then Private Wealth Advisor, Petrea Van Aswegen, and I received a refund on the overcharge, it raised concerns for me about the potential for FNB to overcharge clients who may not notice the discrepancy.

More recently, in November 2022, I agreed to an interest rate of 11.75% on my overdraft facility, but FNB charged me 1.1% more interest. When I brought this to my Private Banker Analyst, Reitumetse Makutoane, because at the time, I didn't have a Private Wealth Advisor assigned to me, it took over four weeks to resolve. I had to request contact information for the complaints department before the issue was resolved. Complaints department contacts were not shared with me; hence I am writing here.

Despite this partial resolution (I was overcharged in February 2023), I still have concerns about the processes within FNB that allow overcharging to occur in the first place. I asked Reitumetse to query the relevant team why I was being overcharged and take the necessary steps to prevent it from happening again, and I had been waiting for feedback for over eight weeks. It is unacceptable that FNB takes such a long time to respond to a client's request, and my concerns are not being taken seriously.

Furthermore, when I requested a refund of approximately R 31 for the overdraft overcharge in February 2023, Reitumetse advised me that this was declined because I had used the overdraft facility. I know and acknowledge that I used the overdraft. I was still overcharged, which is the issue. The FNB team handling my case needs to fully understand my concerns and take appropriate action to address them.

While I appreciate the efforts of Reitumetse, I am concerned that the Private Wealth Advisor is not involved in resolving my issues. I urge FNB to investigate why overcharging is occurring and to take steps to prevent it from happening. I expect prompt feedback on this matter and a satisfactory resolution to the ongoing overcharge issues I am experiencing.