Executor Charges not Negotiable.....best offer, less 10% which is less than the Vat

Executors Fee NOT NEGOTIABLE beyond 10%

After receiving the First and Final Distribution account I was disappointed to learn that despite the Estate having shortfall of R146 826.38 FNB wants their Full Executor Fee of R81 541.15 ......nearly half the total shortfall.

I have been a FNB client for 44 years, and in my hour of need I thought I would ask them for help; but was told the best they could do was 10% discount (less than the VAT amount).

Can the Bank not look at each case on merit? Especially where an Estate is in trouble, if approached by a long standing customer, consider some sort of leverage?

I approached them again, asking them to reconsider, I was told that the 3.5% plus VAT is gazetted.

I’ve read that the rate should have been negotiated with the bank when drafting the will. This means that rates CAN negotiated if the client is aware of when to do this.

I am very disappointed in FNB. “how can we help you” does not really mean what it says.