FNB DEBT REVIEW TEAM

I am absolutely disgusted by the level of service, or lack thereof, that I have received from FNB. I am currently under Debt Review and decided to request my statements directly from them so that I could check my balance. After doing so It was brought to my attention that they are NOT charging the negotiated ANNUAL interest rate as per the Court order but instead they are charging me the Negotiated interest rate MONTHLY. I have requested on numerous occasions to have my balance recalculated since placed under Debt Review, my Debt Counselling Team has also requested this but still NOTHING!! When I called the call centre I spoke to "Person A" who was starting to get snarky with me until I gave the phone over to my legal adviser, because this call was recorded suddenly a gentleman, who's name shall remain anonymous was in agreement with the fact that my account is being incorrectly calculated. This is why so many people are depressed about their financial state, because people like me are working hard to ensure that we meet our legal obligation to make payments on our accounts and then places like FNB have the audacity to trample on us with rude staff, poor service (not sticking to their turn around times, SLA) and completely ignore the spirit of TCF and the approaching RDR regime. All institutions should really be getting their customer service houses in order!! I want answers!

The email sent to FNB from me reads as follows:

Good day

I have just got off the phone with your call centre. I spoke to "Person A" Please refer to your recorded phone calls. I have previously queried the interest app**** to my account. As per the attached court order the interest rate should be 0.28% per annum. A simple calculation of the interest that is added monthly however shows that the interest is closer to 8% per annum. When I previously queried this matter, I was advised that it would be rectified. My latest statement shows that it has not been rectified as promised.

The current balance outstanding is R17,094.68. "Person A" and I did a simple interest calculation at the correct rate of 0.28% per annum. The annual interest applicable was R47.87. If that is divided by 12 to come to a monthly interest amount applicable, that is R3.99 (R4). As per "Person A's" telephonic confirmation, the interest that has most recently been app**** is ±R109. Very much in excess of R4.

The interest that is applicable is not in dispute. Both call centre agents that I have spoken to have confirmed that they are in possession of the court order that stipulates the applicable 0.28% annual interest that should apply. It is also not in dispute that the incorrect interest amount has been app**** to this account from the beginning.

My written request is that you please do a recon of my account, reflecting the correct interest amount that should have been charged from inception of the account.

May I please have a response to this email within 7 days from the date hereof.

Awaiting your return.

And Guess what "STILL NO RESPONSE" ......