Extremely Poor Service from FNB – Account Closed Without Explanation

I have been banking with FNB for nearly two years, holding a business account with a monthly turnover of almost R10 million. I initially opened the account at the Woodmead branch early in 2023. However, in July 2024, I received an email stating that FNB intended to close my account.

Concerned, I went to the branch, and the banker assured me that he would get feedback and update me. Unfortunately, I never heard back. I made several attempts to contact the branch and was repeatedly ignored. After weeks of trying, I finally managed to get a response, only to be told that FNB was terminating its relationship with me. When I asked for a reason, I was met with silence—no explanation whatsoever.

To make matters worse, a day later, my accounts were suspended without warning. Both my business and personal funds were frozen. This caused chaos for my business. I couldn’t access my money, pay salaries, settle instalments, or even operate my business. I am still in the dark about why FNB has taken these actions, despite phoning daily to seek clarity.

Clients are making payments into my account, but the funds are not reflecting even though they have left their accounts. This is highly unprofessional, and I am left unable to manage my business. I am beyond frustrated with FNB’s lack of communication and accountability.

This experience has been extremely stressful, and I would not recommend FNB to any business owner. If this is how they treat loyal customers with significant turnovers, I cannot imagine what others must be going through.