1 reviews | Active since May 2024
FNB Failed to Execute My Investment Instruction Resulting in Financial Loss
I am extremely disappointed with the handling of my investment matter by FNB Savannah branch.
In 2025, I visited the branch to open an investment account for approximately R400,000. The consultant assisted me, discussed the investment maturity details, and advised when I should return to either reinvest or terminate the investment. I was also sent the Terms and Conditions relating to the investment account.
Recently, I discovered that the investment was apparently never correctly processed, which resulted in me not earning interest on my funds. When I raised the matter with the branch, I was initially told there was “no evidence” that I had visited the branch or opened the investment account.
After escalating the matter, FNB responded by saying there was merely a “system issue” that caused the Terms and Conditions to be sent late. However, this completely avoids the actual complaint.
My complaint is not about delayed Terms and Conditions. My complaint is that FNB failed to correctly execute and process my investment instruction, resulting in financial loss.
To date, FNB has not properly explained:
- Why the investment was not correctly processed; - What happened to the investment instruction; - Why maturity details were discussed if the investment allegedly did not exist; and - Whether I will be reimbursed for the lost interest.
I do not consider this matter resolved and I am requesting that FNB conduct a proper investigation and take accountability for the financial prejudice I have suffered.
The reference for my poorly handled complaint: ***
While FNB acknowledges that I deposited R400,000 into my account in October 2025 and later opened a Fixed Deposit in February 2026, they claim there is “no evidence” that the original investment instruction was captured at the branch.
What concerns me most is that the investigation appears to rely only on the absence of system records, while no effort was made to share supporting evidence from the internal Hogan system, consultant notes, or sales activity records that may confirm the interaction and intended investment instruction.
Customers place trust in branch consultants when seeking assistance with investments and financial products. It is unreasonable for accountability to rest entirely on the customer when branch processes and internal system controls are also involved.
I have requested that FNB provide greater transparency by sharing any internal records linked to the consultant interaction and reported sales activity. I believe this matter deserves a fair and independent review.
I hope FNB will reconsider the matter and strengthen its internal controls to protect customers from similar experiences in future.
While FNB acknowledges that I deposited R400,000 into my account in October 2025 and later opened a Fixed Deposit in February 2026, they claim there is “no evidence” that the original investment instruction was captured at the branch.
What concerns me most is that the investigation appears to rely only on the absence of system records, while no effort was made to share supporting evidence from the internal Hogan system, consultant notes, or sales activity records that may confirm the interaction and intended investment instruction.
Customers place trust in branch consultants when seeking assistance with investments and financial products. It is unreasonable for accountability to rest entirely on the customer when branch processes and internal system controls are also involved.
I have requested that FNB provide greater transparency by sharing any internal records linked to the consultant interaction and reported sales activity. I believe this matter deserves a fair and independent review.
I hope FNB will reconsider the matter and strengthen its internal controls to protect customers from similar experiences in future.
However, the final response then shifted position and stated there was “no evidence” supporting my investment instruction.
This raises an important question: if technical and system issues were already acknowledged by the bank, were all internal records properly reviewed before the complaint was rejected?
I have requested that FNB provide evidence from the Hogan system, consultant notes, and internal sales activity records because I strongly believe the consultant captured the intended investment instruction and reported the sale internally.
Customers deserve transparency and fair investigations, especially where significant amounts and potential financial prejudice are involved.
However, the final response then shifted position and stated there was “no evidence” supporting my investment instruction.
This raises an important question: if technical and system issues were already acknowledged by the bank, were all internal records properly reviewed before the complaint was rejected?
I have requested that FNB provide evidence from the Hogan system, consultant notes, and internal sales activity records because I strongly believe the consultant captured the intended investment instruction and reported the sale internally.
Customers deserve transparency and fair investigations, especially where significant amounts and potential financial prejudice are involved.