EC
Erick C

1 reviews | Active since Aug 2023

26 Feb 2026, 18:33

FNB double dipping and deceptive

From being a loyal Private client of over 20 years the time has come to move my business elsewhere due to ongoing poor service and service failures the last 2 years, this despite 3 face-to-face engagements at Port Side during this period to try and resolve the issues.

The account closure process in itself has been challenging to say the least. Due to having a Share Invest account one must have an active transactional account. I thus proceeded to downgrade my Private account to a Premier account (whilst the share transfer process is taking its course) for which I was double billed the monthly account fees, one for the full account fee at the beginning of the month and then another prorated amount later in that month. This was subsequently resolved by reversing the double billed amount.

The share invest transfer took place by the fee per holding charged was higher than the amount stipulated in the share invest transfer form to which FNB claims VAT needs to be app****. This was not indicated on the form at all with no reference that the fee is VAT exclusive, deceptive to say the least.

Most account transfers is now at a stage where I qualify to downgrade to an Easy account whilst the last matters are resolved. Yet again I have been double billed the Premier account monthly fee, once for the full amount on the 2nd of Feb and now again on the 26th a prorated amount for the month. This matters remains unresolved.

What has happened to FNB the last 2 years?

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