JR
John R

1 reviews | Active since Dec 2018

18 Nov 2020, 11:07

FNB done away Telegraphic Transfer rates received from Overseas

FNB rates foreign exchange used to publish A selling rate, a TELEGRAPHIC TRANSFER RATE, a buying rate for Euro , British Pounds, and US dollar now they only publish a selling and buying rate from a global receipient. The telegraphic transfer rate was better than Fnb buying rate, so the FNB bank is robbing their own clients. This since about from Oct 2020. On a big foreign amount from overseas you talking of getting( according to daily foreign exchange rates) a difference of say R600.00 less. FNB need to be taken to the Banking board about why the sudden change and paying their clients at a lesser foreign exchange rate i.e. they taking only buying rate and erased the higher ' telegraphic transfer rate'. I am disatisfied and private banking FNB and Foreign exchange FNB are not able to explain. The FNB foreign exchange operator a lady told me there is no such TELEGRAPHIC TRANSFER rate before on their daily foreign exchange rates indicators making me out as if I don't know what I am talking about. I demand an explanation from FNB this removal of telegraphic transfer rates is robbing the FNB clients of Rand difference and the lower buying rate.

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