FNB goes Rogue

FNB says that they are allowed to create a new loan account for a customer without the consent of that specific customer.

The term this new loan account a debt recovery account and said that they are allowed to close a customers account if it goes into areas and open a new account on behalf of the customer.

FNB further indicates that this is legal and is within the national credit act (allowed).

Please can you send me the following: My original signed loan agreement for account number ********** 595162;

The statement of account since inception for account ********** 595162;

The terms and conditions for the loan account ********** 595162 (the copy that I had signed when taking the loan);

The policy or procedure document from FNB that indicates that a new ['legal'] account can be opened on behalf of a client in the absence of consensus.

The section within with National Credit Act that indicates that the bank is allowed to create new accounts on behalf of the clients in the absence of consensus

The manager from FNB (Irving Marshal) told me that even standard bank does this but I told him that i bank with standard bank and when i was in areas i had never had standard bank close my account and open a new account for me.

Wesbank is a part of FNB, and there was a time when I fell behind on my wesbank vehicle payments. I was in arears for more than a year. The collections department (Consol) had contacted me at the time and said that my account handed over - no new legal account was created for me.

I find this hard to believe because:

1 . I did have a loan account that was in areas

2. I did not consent to FNB opening a new account without me knowing

3. I would never have agreed to have a new account opened (because my original loan was R60000 and I had already paid back R80000 on the loan only to have this loan closed and a new loan open with a balance of R62000.

4. I was never notified that this new loan account was opened and only found out when I received a free credit report about 3 years back.