FNB Fiduciary froze deceased estate account for 30 days – employees unpaid, zero accountability

FNB Fiduciary froze a deceased estate account on 03 November claiming they needed to “verify” the Letter of Executorship (LOE). For 30 days nothing happened. Only on 15 December was I told the matter was being “escalated”.

This delay is completely unjustified. The Master’s Office issues LOEs with QR codes, which allow instant verification of executor details. This does not require a month-long freeze. The delay is clearly an internal FNB inefficiency, not a regulatory requirement.

As a direct result of FNB’s inaction: • Estate employees have gone unpaid • No urgency or care was shown despite repeated calls • I experienced dismissive service from a consultant named Robyn, who showed no interest in resolving the matter

None of this was disclosed when the account was opened. Had I known FNB could freeze an estate account indefinitely with no SLA, I would never have opened the account.

To make matters worse, when I tried to close the estate account and move the funds to another bank, I was told I cannot do so because I am “still being verified” — a problem entirely created by FNB. This effectively traps clients in a broken process with no exit.

This is poor fiduciary conduct, lack of accountability, and complete disregard for the financial harm caused. I deeply regret choosing FNB Fiduciary and will be closing both the estate account and my personal accounts once this is resolved.

Extremely disappointed.