1 reviews | Active since Sept 2015
Defective Forex Platform
For years my company was able to be paid in ZAR from our customers who hold FNB accounts outside of South Africa for example Namibia. When the account facility fell due for settlement and they processed an EFT the funds would reflect immediately in our FNB account. Recently all payments made in ZAR from foreign FNB accounts are treated as a 'Forex Transaction' which now requires our approval. While this already is extremely annoying, what I have a serious problem with is that FNB's own instructions to release the payment into our account simply does not work. Each time we receive the following email: Forex transfer application with Reference Number: ************X
Your FNB account was allocated funds from an offs**** account, however you are required to authorise the release of these funds into your account.
Please bear in mind you have 30 days in which to complete this transaction. Should you not do so, the funds will be returned to the originating bank and you may be charged the costs relating to this returned transaction. To complete this transaction via FNB Business Online Banking, follow these steps: Step 1: Login to FNB Business Online Banking Step 2: Select the Forex tab Step 3: Select Global Receipts tab Step 4: Select the payment you wish to authorise Step 5: Complete the reason for the transaction and request a quote Step 6: Review and accept quote
Should you have any queries, please contact your Banker or the Forex Advisory Team on ***, option 2, for assistance.
Regards FNB Forex Tel: 0860 1 FOREX(36739) | Email: ***
As I have pointed out to FNB multiple times these foreign payments never reflect on the FNB Web Portal and each and every time I am forced to waste my time by phoning the "Forex Advisory Team' and answering numerous questions because they treat you like a ******** who is involved in money laundering. I have emailed *** multiple times with actual screen shots of what I see on my portal and all I get is read receipts and zero response. To make matters worse FNB claims from the above email that you can "contact your banker" which brings me to my second complaint which is the so-called 'Banker' assigned to me by FNB Private Wealth by the name of Mr. Thabiso Mathelela does not either respond to emails. I have sent him multiple emails down the past few months with ZERO response and do bear in mind FNB Private Wealth clients are charged a very high monthly service fee which begs the question what am I paying these sky high service fees for when FNB can't even be bothered to respond to emails ????????????? Any company I send an email to that does not bother to respond I find it unprofessional and downright rude. As a client with FNB holding multiple accounts for almost 30 years I am seriously considering closing all my FNB accounts and migrating to an FNB competitor as clearly FNB does not give a F*CK about its clients!
